Warren County Local Development Corporation

See schedule o:a County wide program to assist low-income homeowners to improve their housing and lender of last resort loans to small businesses who employ low to moderate income individuals. Loan fund: inquiries regarding funding sources for small businesses in Warren County were received on a less than regular basis throughout 2022 due in large part to the existence of more favorable funding sources such as Warren County's arpa grants for businesses affected by the pandemic; the lake george lake champlain regional planning board's no-interest loan program; and arpa funds available through the city of glens falls economic Development corporation. Potential borrowers were directed to apply for these other funds, so no applications were forwarded to borrowers in 2022. Nonetheless, wcldc staff met with six businesses looking for funding, business start-up recommendations, networking opportunities or introductions. The following is a geographic breakdown of where businesses were located and the number of inquiries for each location: 1 glens falls, 1 bolton, 3 queensbury and 1 for Warren County at large.- three (3) loans were paid off during 2022- two (2) delinquent loans were deemed uncollectible and were written off- one (1) delinquent loan reached a settlement for partial payment and the remainder was written off- two 10-week cyle classes of startup adk (aka microenterprise assistance program) took place in collaboration with suny adirondack and Washington County ldc. The spring class had 9 participants; the fall class had 9 participants.- significant discussions were held at the wcldc board level on a potential additional use of wcldc funds to meet evolving community needs in the areas of pre-development housing funds, land banks, critical repairs, childcare, workforce training and other means to support the business and general community. This will continue to be a focus of the wcldc in 2023.no grants were approved during 2022.