Revolving Loan Fund

Impacted Business Revolving Loan Fund

About the Program

The City of Plattsburgh recognizes the importance of its downtown business community and the critical role that community plays in the local economy. This is one of the reasons that completion of the full-depth road reconstruction project currently underway on Margaret, Court, and Brinkerhoff streets was made a high priority. As with any road reconstruction project and despite the City’s best efforts, there exist  ongoing detrimental impacts to businesses directly adjacent to the construction zone.

The Impacted Business Revolving Loan Fund (IBRLF), a subprogram of the City’s recently revived Community Development Revolving Loan Fund (CDRLF), will offer loans of up to $30,000 to downtown businesses who were directly impacted by this summer’s Margaret Street Reconstruction project.

Click to Watch the Recorded IBRLF Workshop Held on October 3, 2023

Eligible Businesses:

Eligible businesses are those located in areas directly impacted by changes to  pedestrian or vehicular traffic flow necessitated by the construction work. Those areas are as follows:

  • Margaret St. between Broad St. and Cornelia St.
  • Brinkerhoff St. between Margaret St. and Oak St.
  • Court St. between Margaret St. and Oak St.
  • Clinton St. between Margaret St. and Oak St.
  • Marion St. between Brinkerhoff St. and Court St.

Eligible Uses

IBRLF funds can be used towards:

  • Working capital 
  • Improvements to commercial real estate (including façade renovations)
  • Machinery and Equipment 
  • Furniture and Fixtures
  • Accounts receivable 
  • Inventory
Business Support

Businesses participating in the IBRLF may elect to have all interest accruals deferred during the first two years of their loans by opting to receive business support provided by the Small Business Development Center (SBDC). Participants pursuing this track will be required to attend workshops with the SBDC and submit to the City within one year after loan closing a complete business plan with both financial and marketing components detailed within the plan.


Assistance Track


Track 1: 
Business Receiving Support


Track 2: 
Business Waiving Support (Default Track)

 0-12 months 0 Payments, 0 Interest 0 payments, 0 Interest
13-24 months Payments, 0 Interest Payments + Interest
25-36 months Payments + Interest  Payments + Interest


Community Development Revolving Loan Fund

About the Program

The City of Plattsburgh’s Community Development Revolving Loan Fund (CDRLF) is a federally funded source of capital offering competitive rates and flexible terms to provide borrowers with access to an affordable financing source. The primary objective of the CDRLF is the development of viable urban communities, by providing decent housing, a suitable living environment, and expanding economic opportunities, principally for persons of low and moderate income.


The program is funded via Community Development Block Grants made available to the City by the U.S. Department of Housing and Urban Development.

National Objectives

Any CDBG-funded activity must meet one of three national objectives:

  1. Benefit Low-and-Moderate Income Persons
  2. Prevention and Elimination of Slums or Blight
  3. Address an Urgent Need

Types of Program Assistance:

  1. Single Family Housing Rehabilitation
  2. Multi-Family Rental Housing Rehabilitation
  3. Economic Development Activities and Projects
  4. Microenterprise Business Development
  5. Single Family Homeownership Assistance

Eligible Activities:

Real Property:

  • Acquisition
  • Rehabilitation
  • Development
  • Façade renovations
  • Code enforcement
  • Lead-based paint hazard evaluation and reduction
  • Historic preservation
  • Clearance, demolition, removal, and reconstruction
  • Energy conservation and efficiency improvements
  • Construction or improvement of disaster-safe shelters for residents of manufactured housing

Business/Economic Development & Microenterprise Assistance

  • Economic development projects that minimize displacement of existing businesses and jobs
  • Financing for the establishment, stabilization, and expansion of microenterprises
  • Working capital, real estate, machinery/equipment, furniture/fixtures, and/or inventory

Direct Homeownership Assistance

  • Subsidize interest rates and mortgage principal amounts
  • Acquisition of housing already occupied by the homebuyers
  • Up to 50% of down payment
  • Closing costs


View the Program Policies and Procedures Manual
View Loan Types, Terms, Amounts, LTV Ratios, and Security
View the CDRLF FAQ's

To Apply:
Click to Download Application

For inquiries regarding the program: 

Phone: (518) 563-7642