Lending Programs

Revolving Loan Fund Program

The Monroe County Industrial Development Corporation Revolving Loan Fund (MCIDC RLF) program provides gap loan financing to Monroe County businesses which do not qualify for the SBA 504 program. Funding for MCIDC RLF loans are in conjunction with a bank/financial institution and will match the bank term, up to 7 years.

Ineligible projects include:

  • Retail
  • Medical facilities
  • Debt refinancing
  • Professional services
  • Real estate development

Approval is subject to MCIDC Loan Committee and MCIDC Board of Directors.

SBA 504 LOAN PROGRAM

The SBA 504 Loan Program, administered by the Monroe County Industrial Development Corporation (MCIDC), provides long-term financing for the purchase of land, buildings and equipment at a fixed-rate of interest. Funding for SBA 504 loans is provided through a partnership between the Small Business Administration and a private sector lender such as a bank.

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C-PACE

Open C-PACE (Commercial-Property Assessed Clean Energy) is now available in Monroe County! Monroe County passed a local law enabling C-Pace and became a member of the Energy Improvement Corporation (EIC) in 2021. By participating in Open C-PACE, commercial and non-profit building owners are able to invest in energy upgrades to their buildings or build new construction to higher energy standards using private capital from participating lenders, thus allowing property owners to improve their properties, lower operating expenses, and positively impact their communities.

Open C-PACE differs from traditional bank loans:

  • Financing is available for up to 100% of the project cost, or can be combined with other financing
  • Competitive private financing from EIC-approved capital providers
  • Customizable loan terms up to the expected life of the improvement(s) (generally 20-30 years)
  • Automatically transfers to new owner upon sale of property
  • Available for energy efficiency and renewable energy measures (Projects are qualified according to NYSERDA’s C-PACE Guidelines)

To see if your project is eligible visit: https://www.eicpace.org/financeapplication

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Micro Advantage Loan Program

The Micro Advantage Loan Program can be used for nearly any business financing need, from working capital to equipment purchases and more. Most small businesses are eligible with special features for certified M/WBE and Service Disabled Veteran owned businesses.

This Micro Advantage Loan Program provides loans from $10,000 to $50,000 to help small businesses with most business related costs. The Micro Advantage Loan Program provides funds to businesses that may not otherwise be a candidate for traditional bank loans. This loan program gives you the opportunity to secure funding while learning the loan process and building your credit.

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