The Small Business Development and Revolving Loan Fund has been active since the 1980s and makes low-interest loans of up to $15,000 and microgrants up to $5000. Because this is replenished by loan payments paid back to the fund, new funding is not always available. There is no guarantee of awards at the maximum amount.

The Process

Interested businesses should fill out a statement of interest with a preliminary budget and brief project description.

Note: Those looking to acquire a building and business and have a budget higher than the amount MARK can award will be encouraged to reach out to Catskill Watershed Corporation or Delaware County Economic Development.

The MARK Review panel (comprised of MARK Board Members) will accept statements of interest on a rolling basis and upon review and potentially a preliminary interview, the Review Committee will invite full applications to be submitted on a quarterly basis, providing there are available funds.

If invited to apply, the applicant will be subject to a competitive process.

Items that need to be submitted with the full application

New start-up businesses: A five-year business plan that has been reviewed by an external financial institution or source and a personal guarantee

Existing Businesses: Last three years P & L and collateral

Eligible use of funds

• Working capital

• Equipment Purchases

• Property improvements (if the applicant does not own the property, a letter of permission from the landlord must be submitted with the application)

• Signage

• Marketing and Promotion

Ineligible use of funds

• Personal expenses

• Travel

• Expenses for work that was completed prior to award announcement

If a favorable decision of funding is made, the recipient will be required to sign a promissory note and sign a commitment of collateral, which will be filed with the County Clerk’s Office