HVADC Agribusiness Loan Fund

Purpose: Specialized lending for agribusiness providing alternative credit instrument for businesses that may not access sufficient capital through traditional institutions

Geographic Scope: Hudson Valley region of New York State

Loan Features:

• Loan Sizes: $25,000 to $1,000,000+
• Loan Terms: One to ten years
• Loan Rates: Generally Prime -1.00% to Prime +2.75% (inquire for current rates based upon loan size, use and term)
• Loan Types:

- Traditional variable rate structured loans
- Short-term bridge/gap loans

Eligible Loan Uses:

• Working capital
• Equipment purchase
• Real estate acquisition (conditional)
• Leasehold improvements
• Business expansion

Eligible Applicants:
Businesses in agriculture or those using/selling agricultural products including:

• Local farms
• Value-add product manufacturing
• Food processors
• Food aggregators
• Food distributors
• Craft beverage producers
• Wineries
• Retail businesses
• Restaurants
• Other food/agriculture related businesses

Ideal Candidates:

• Growth-oriented businesses looking to expand operations or value-added product offerings
• Businesses owned by entrepreneurs of all backgrounds, particularly women, veterans, LGBTQ+, BIPOC and those from lower-income backgrounds or communities
• Established small businesses seeking working capital
• Businesses investing in equipment, inventory or technology upgrades
• Businesses receiving grant funding on reimbursement basis needing bridge financing
• Businesses with revenues over $100,000
• Those with difficulty obtaining credit from traditional bank sources
• Those challenged by rising costs and high interest rates

Lender Philosophy:
Non-profit lender that understands unique missions, finances, challenges and operations of agriculture-related businesses and shares commitment to land stewardship and growth of local agriculture

Additional Support:
HVADC can:

• Work with clients to complete applications
• Connect applicants with required resources or advisors
• Provide business development consultation and solutions

Contact Information:

• Duane Stanton, Business Service Coordinator
• Phone: 518-432-5360 Ext 402
• Email: dstanton@hvadc.org
• Address: 507 Warren St., 2nd Floor, Hudson, NY 12534

Application Process

1. Initial Consultation:
- Contact Duane Stanton, Business Service Coordinator at 518-432-5360 Ext 402 or dstanton@hvadc.org to discuss loan needs and feasibility

2. Online Portal Submission:
- After initial consultation, applicants are directed to secure portal
- Provide basic information about business
- Upload relevant documentation

3. Required Documentation:
- Three years of complete federal tax returns for the business
- Additional materials as specified in secure portal

4. Submission:
- Safely submit completed application and attachments through secure portal
- Contact HVADC if you have questions