Ulster County to launch revolving loan fund for business and non-profits

KINGSTON – The opening of the Ulster County Revolving Loan Fund to help small businesses and nonprofits in Ulster County was announced on Friday.

The program will offer low-interest, fixed-rate loans ranging from $7,500 to $150,000 to help them meet capital needs for improvements or expansion and close financing gaps.

The fund will be through the Ulster County Economic Development Alliance.

Loans may be used for commercial property acquisition and redevelopment, building construction and renovation, machinery and equipment purchases, site improvements, working capital, inventory, and other project-related costs.

County Executive Jen Metzger said the fund is a “powerful tool to help our local businesses and non-profits grow and flourish.”

She called small business “the backbone of our economy in Ulster County.”

“The relaunch of the Revolving Loan Fund is an important step in making sure Ulster County’s small businesses and non-profits have access to the capital they need to grow,” said Brian Cahill, the vice chair of the county economic development alliance.