Expand Your Business
My family has done business in Geneva for generations. When it was time to grow, the City and its partners stood ready with critical financing to support our growth.
Bill Legott
Owner, Club 86
Financial Stimulus Sustaining Growth
Retaining and growing our existing business is our highest priority. When your existing business in Geneva is ready to grow, the City and our partners stand ready to support you in your expansion efforts. As your expansion plans firm up, the City can facilitate the financing you need to achieve your growth goals. Whether it's making a connection with a local lender, facilitating a loan with one of our partners, or supporting you through our own Revolving Loan Fund program, we can help you put together a financing package.
The Local Development Corporation (LDC) manages investments in business growth through our Revolving Loan Fund that are used for:
- Equipment acquisition
- Facility rent
- Payroll
- Working capital
The Microenterprise Assistance Program offers grants up to $25,000 to help build and expand businesses with five or fewer employees (including the owners). Contact Erica Collins via email or at 315-789-6104 for more information.
The Industrial Development Agency (IDA) supports qualified projects through locally-developed incentives through:
- Land-cost write-downs
- Mortgage and sales tax abatements
- Property tax phase-ins
Other Sources of Capital
Other sources of capital that can be paired with city mandated funds to round out your financial package include:
- Local Non-Profit PathStone
- Ontario County's Economic Development Corporation, who offer revolving loans
- Small Business Administration