N.F.C. Development Corporation Direct Loan Program
City of Niagara Falls gap financing for business projects that create or retain permanent jobs.
About this program
The N.F.C. Development Corporation Direct Loan Program provides limited direct loans to help complete financing packages for projects that create new permanent jobs or significantly improve economic conditions in the City of Niagara Falls. The program functions as subordinate fixed-asset financing used with borrower equity and other loan funds. Eligible businesses must be located in the city, demonstrate need and repayment ability, be current on real estate taxes, provide collateral, and create or retain jobs at a program benchmark of one job for every $35,000 funded.
Eligibility
Businesses located in the jurisdictional limits of the City of Niagara Falls that are in good standing, have eligible job-creating or job-retaining projects, need gap financing, and can repay a secured loan.
Requirements
- Business must be located in the City of Niagara Falls
- Project must create or retain one job for every $35,000 funded
- Applicant must show need for financing and ability to complete the project and repay the loan