Financing and Incentives - Revolving Loan Funds
The Town of Esopus Waterfront Development Loan Fund was capitalized with $2 million from the U.S. Department of Housing and Urban Development's (HUD) Section 108 loan program. Through the fund, the Town provides financing to Esopus businesses for projects that range from a $50,000 minimum to a $1 million maximum. Loans are for development and job creation for new and existing businesses. The interest rates are between three and one-half percent (3.5%) and four and three-quarters percent (4.75%) depending on project size.
Prior to submitting an application, interested businesses are encouraged to meet with representatives from the Town, who can explain the process in order to avoid unnecessary delays in application processing.
Additional financing and incentives are available to Town businesses through the Ulster County Office of Economic Development. More info on these programs can be found at the Ulster County Office of Economic Development.
John D. Cutrone
Town Of Esopus Economic Development Committee