JCIDA Revolving Loan Fund

The Jefferson County Industrial Development Agency/Revolving Loan Fund (RLF) is a financing program targeted at manufacturing projects located within Jefferson County.

Eligibility Criteria

  1. Loans generally range from $25,000 – $250,000 or 40% of total project costs, whichever is less. Multiple loans can be made with a maximum aggregate amount not to exceed $500,000.
  2. Generally, interest rates range from prime minus one percent to prime plus two percent. Rates and terms determined on a project specific basis.
  3. Businesses located within the Watertown Empire Zone may be eligible for a deferred interest program in regard to the JCIDA/RLF.
Completed and reviewed applications (click here to download) are due the first day of the month, and are reviewed by the board on the first Thursday of the following month.
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JCIDA Microenterprise Revolving Loan Fund

The JCIDA’s Microenterprise Revolving Loan Fund is to stimulate small business development activity through start-up and expansion projects in all sectors of the local economy. The program targets businesses which create and retain job opportunities, for low to moderate income residents.

Types of eligible businesses will include manufacturing, retail, service, tourism, and agriculture.

Loan proceeds shall be used by the borrower for the acquisition of machinery and equipment, working capital, furniture, fixtures, and real property. Loan can be up to $40,000, and will generally not exceed 40% of total project costs, whichever is less. Multiple loans can be made with a maximum aggregate amount not to exceed $120,000. Generally, interest rates range from prime minus one percent to prime plus two percent. Rates determined on a project specific basis. The term of the loan shall not exceed twelve (12) years.

The JCIDA strongly encourages applicants to obtain assistance from the Small Business Development Center at Jefferson Community College.

Eligibility Criteria

  1. Business having five (5) or fewer employees and must include the owner as an employee.
  2. Equity participation of at least 10% of the total project costs.
  3. Microenterprise business owners must be income-eligible or pledge to create jobs that will be held by income eligible individuals.

Completed and reviewed applications (click here to download) are due the first day of the month and are reviewed by the board on the first Thursday of the following month.

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JCIDA Industrial Revenue Bonds

A primary way the Jefferson County IDA promotes economic growth is through the issuance of tax exempt or taxable industrial revenue bonds for businesses that either wish to locate or expand their operations in Jefferson County. This financing offers the following advantages:

  1. Competitive interest rates
  2. Versatile financing in that the IDA may finance up to 100% of a project or may be combined with equity, conventional financing, or public financing to create a well-rounded financial package.
  3. Cost effective for borrowers seeking financing for projects $1,500,000 and larger.
  4. This program is available via application (click here to download ) to the Industrial Development Agency.

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Additional Financial Assistance

Additional financing may be available through the JCIDA’s regional economic development partners where needed. The JCIDA can also help eligible projects to access state-level financial assistance, tax credits, and workforce training programs.