07/31/2026
Ulster County Announces Launch of Revolving Loan Fund for Businesses and Nonprofit Organizations
Informational Webinar Scheduled for August 20
KINGSTON, NY - Ulster County Executive Jen Metzger today announced the opening of the Ulster County Revolving Loan Fund through the Ulster County Economic Development Alliance (UCEDA), in partnership with the Ulster County Department of Economic Development. The program will offer low‑interest, fixed‑rate loans ranging from $7,500 to $150,000 to help small businesses and nonprofit organizations in Ulster County meet capital needs for improvements or expansion and close financing gaps.
A virtual information webinar for prospective borrowers will be held August 20, 2–3 PM, where staff will walk attendees through eligibility criteria, loan products, and the application process. Participants are encouraged to bring questions. To register for the webinar, visit ulstercountyny.gov/revolving-loan-fund.
The updated RLF includes three loan categories designed to meet common financing challenges faced by small businesses and nonprofits:
• Micro Loans — $7,500 to $15,000 for small‑scale capital needs, especially for businesses with limited collateral or credit history.
• Gap Loans — Up to $75,000 to supplement commercial financing, close remaining funding gaps, and bring down borrowing costs.
• Bridge Loans — Up to $150,000 for nonprofits awaiting grant reimbursements.
Loans may be used for commercial property acquisition and redevelopment, building construction and renovation, machinery and equipment purchases, site improvements, working capital, inventory, and other project‑related costs.
The pre‑application opens today, July 31, with separate forms for businesses and nonprofits. The formal application period opens August 21, after which applications will be accepted on a rolling basis as long as funds remain available. Once formal applications open, County staff will contact all pre‑applicants to schedule an in‑person meeting to review eligibility and next steps. Eligible applicants will then be invited to submit a full application.
“The Revolving Loan Fund is a powerful tool to help our local businesses and nonprofits grow and flourish,” said County Executive Jen Metzger. “The loan products have been thoughtfully designed to meet the financing needs and challenges they face, especially small businesses, which are truly the backbone of our economy in Ulster County."
“The launch of the Revolving Loan Fund represents an important step toward ensuring that the businesses and nonprofits of Ulster County have the resources they need to grow, and in turn, strengthen our local economy,” said Leslie Wellington, Interim Director of Economic Development. “We’re eager to partner with our incredible network of community organizations, municipalities, lenders, and business-support organizations to fully connect this program with Ulster County’s vibrant business community.”
“The relaunch of the Revolving Loan Fund is an important step in making sure Ulster County’s small businesses and nonprofits have access to the capital they need to grow,” said Brian Cahill, UCEDA Vice Chair. “Too many local enterprises struggle to secure affordable financing, and this program helps close that gap with flexible, low‑interest loans. As a board, we’re committed to supporting the people and organizations that drive our local economy, and the RLF is a practical, sustainable way to do just that.”
“This program update enables us to serve urgent needs of our community by improving access to capital and reducing lending costs,” said Jelka Wickham, Deputy Director of Economic Development and Program Manager. “I’m excited to work with our local businesses and lending partners to help bring projects to life that might not otherwise become a reality.”
“The Ulster Chamber of Commerce is delighted with the news that Ulster County will once again be administering a Revolving Loan Fund for local small businesses and nonprofit agencies. It is our understanding that these will be low-interest fixed rate loans and offer much-needed gap-financing for businesses or projects here in Ulster County,” said Ward Todd, Ulster County Chamber of Commerce president, and member of UCEDA. “The added benefit to Ulster County and our members, is that, as borrowers repay their loans, the funds revolve back in to be loaned out again, creating a self-sustaining source of capital. The Chamber will work to ensure that our members and all local small businesses here in Ulster County are aware of these funds and take advantage of the program.”
The Revolving Loan Fund is designed to expand access to capital for small businesses and nonprofits that face barriers to traditional financing, strengthen long‑term economic resilience and business growth across Ulster County, create a sustainable lending resource by recycling repaid loans into future lending, and fill critical financing gaps in the market — complementing commercial lenders rather than competing with them.
The program is intended for established small businesses and nonprofits that are financially sound, positioned for growth, and able to demonstrate repayment ability. Owner equity, personal guarantees, collateral, and a completed business or project plan are required.
Interested applicants should review program guidelines and complete the pre‑application form at ulstercountyny.gov/revolving-loan-fund, which is also where you can register for the August 20 webinar. Questions may be directed to the Ulster County Department of Economic Development at [email protected] or (845) 340‑3556. A full list of eligible applicants, uses, terms, and fees is available at ulstercountyny.gov/revolving-loan-fund.
# # #
Ulstercountyny.gov
