Small Business Training Program
A Small Business Training Program is offered each fall to assist existing and potential small business owners with the training and resources needed to develop a business plan for their enterprise. The Business Plan is the first step to access financing for your business and this class will walk you through the steps involved to write your own. Once you have a completed Business Plan, the business may be eligible for loan financing through the County's Revolving Loan Fund (Below), other local financing from the Sullivan County Partnership or Industrial Development Agency, bank financing and potential grant programs.
Sullivan County Revolving Loan Fund
The Sullivan County Revolving Loan Funds provide seed capital and early stage loans to eligible entrepreneurial companies who want to establish or expand within the county. Special consideration shall be given to assisting businesses owned and operated by persons of low-to moderate-income, as required by the specific program.
The Sullivan County Division of Planning, Community Development and Real Property administers four different revolving loan program funds that assist entrepreneurs looking to establish or expand businesses: Agri-Business Loan Program; Agri-Business Micro-Enterprise Loan Program; Main Street Business Loan Program; Main Street Micro-Enterprise Loan Program. Loans range from up to $10,000 to up to $100,000 depending on various criteria including the percentage of owner equity involved, the number of jobs created, and location of business. Rates for all loans are set at 1% below the prime interest rate, with a base minimum of 2% and a maximum of 6%. Terms are generally set at up to ten (10) years and are commensurate with items being financed. Applicants must hold at least a 20% share in the businesses and must sign a personal guarantee for the repayment of the loan. A non-refundable application processing fee of $50 applies to all applicants and a closing fee of $100 is required for all approved loans. For additional information on these loan programs please contact us at 845-807-0527.
If you are interested in any of the above programs:
The pre-application will enable us to determine
which programs you may be eligible for.