Loan Programs
CCIDA
CCIDA offers various types of low-interest business loans to assist with a variety of needs, with the goal of creating or retaining jobs within Chautauqua County. Our loan programs have assisted numerous businesses, including the 2023 purchase of Weber Knapp in Jamestown by Rhonda Johnson and Wayne Rishell (pictured), ensuring Weber-Knapp remains locally-owned and competitive on the global stage.
Chautauqua Revolving Loan Fund (CRLF)
Eligibility for the Chautauqua Revolving Loan Fund is for businesses, although other projects may be eligible. The CRLF can be used toward purchasing real estate, machinery and equipment financing, working capital, and renovations. The loan limit is typically $75,000, maturing in 5 years, and must result in job creation and/or retention.
AL Tech Revolving Loan Fund
The AL (Allegany Ludlum) Tech Revolving Loan Fund is primarily used toward manufacturing, industrial, warehousing/distribution, technology, and agri-business concerns in Chautauqua County for the purchase of real estate, machinery, and/or equipment, along with renovations and working capital. The loan limit is 40% of eligible project costs with a maximum of $1 million and a 7 – 20 year maturity and must result in job creation and/or retention.
Brownfield Remediation Revolving Loan Fund
Funded through a grant from the U.S. Environmental Protection Agency (EPA), the CCIDA Brownfield RLF was established in 2023 to provide loans and subgrants to qualified applicants for remediation projects on eligible properties in Chautauqua County. The fund will be used to support cleanup activities for brownfield sites contaminated with hazardous substances and/or petroleum. The RLF will encourage capital investment, job creation, and sustainable growth in Chautauqua County on existing brownfield sites, while also ensuring public health and environmental protection.
MORE DETAILS ABOUT OUR FINANCIAL INCENTIVES
CCIDA Loans
Uses may be for reimbursement of Acquisition, Construction/Renovation and Equipment, and also for Working Capital. AL Tech RLF, EDA CARES Act Funds, and/or Chautauqua Revolving Loan Fund (CRLF) are all administered locally by CCIDA.
- “Take-out” lending (reimbursement basis)
- Bridge funding needed (cash or bank bridge loan) in certain circumstances
- 4.00% A.P.R. Fixed and Fully Amortized
- Terms ranging 5-20 years
- Includes 1.25% Mortgage Recording Tax Exemption, where applicable
- Application and all supporting exhibits/documentation including the Environmental Assessment Form are due on or before 1st of the month
- $250 Application Fee
- IDA Fee 1% of Loan Amount
- IDA Counsel Fee dependent on type of loan and work performed
- Processing typically within one month.
Tax Lease/PILOT
For projects with larger capital investment resulting in significant increased assessment.
- Real Property Tax exemption on the “new assessment” due to improvements can be provided for certain types of projects/business sectors
- 8% Sales Tax Exemption generally on items with useful life greater than 1 year, and also potentially on rental equipment. Approval required in advance, not reimbursable
- 1.25% Mortgage Recording Tax exemption
- Application and all supporting exhibits/documentation due on or before 1st of the month
- $2,000 Application Fee/Counsel Deposit
- IDA Fee is 1% of the Project Total
- IDA Counsel Fee depends on work performed
- It’s a more involved process, but provides the greatest incentive. Processing generally takes two months, sometimes longer, due to various legal requirements
- For more information, review our Uniform Tax Exemption Policy and Guidelines provided above.
LEAD
For smaller projects we facilitate the CCIDA LEAD program for Sales Tax Exemption only, and connect clients to the local Assessor for additional potential Real Property Tax exemptions.
- Application and all supporting exhibits/documentation due on or before 1st of month
- $250 Application Fee
- $1,500 IDA Fee
- $850 IDA Counsel Fee
- Processing typically within one month.
In addition to our loan programs, CCIDA also offers other forms of Financial Incentives to assist local businesses.