The Suffolk County Economic Development Corporation (SCEDC) is pleased to introduce a First Generation Transit Oriented Development Retail Revolving Loan Fund (TOD Retail RLF) intended to provide small business loans for retailers seeking to locate their businesses in commercial spaces in designated transit oriented developments throughout Suffolk County.
SCEDC will partner with the National Development Council (NDC) to administer the fund. The loans range from $20,000 up to $75,000, priced at a fixed rate of 3%, and are available to fund leasehold improvements, machinery and equipment, and working capital. The loans may be senior debt instruments or be subordinated to certain bank loans. The loans are awarded on a competitive basis, at the SCEDC discretion and are subject to applicant qualifications. The loans are subject to the TOD Retail RLF policies and procedures and subject to availability of funding.
For more information, call (631) 853-4800 or send email to SuffolkEDC@suffolkcountyny.gov