USDA Rural Business Development Grant Program Capital Lease

USDA Rural Business Development Grant Program

Administrator: Mohawk Valley EDGE

Geographic Scope: Mohawk Valley region (eligible rural areas)

Overview:
Grant program that enables businesses to invest in machinery and equipment through a capital lease structure. As capital leases are paid down, funds go into a revolving loan fund that can be deployed as new capital leases, helping businesses preserve cash flow.

Eligibility:

• Rural businesses in eligible areas
• Businesses needing machinery and equipment investment

What Funding Supports:

• Machinery and equipment through capital leases
• Business equipment investments

Key Benefits:

• Preserves business cash flow compared to amortized loans
• Creates revolving loan fund for future deployments
• Reduces interest burden

Contact:

• Tim Fitzgerald, Vice President Economic Development
• Email: tfitzgerald@mvedge.org
• Phone: (315) 338-0393
• Address: 584 Phoenix Drive, Rome, NY 13441

Discrimination Statement: Mohawk Valley EDGE does not discriminate on the basis of race, color, national origin, sex, age, or disability in its program or activities.

Application Process

• Contact Tim Fitzgerald, Vice President Economic Development at tfitzgerald@mvedge.org or (315) 338-0393
• Discuss equipment and machinery needs
• EDGE will assess eligibility and project fit
• Capital lease structure will be discussed
• Application submitted through USDA Rural Development with EDGE assistance