These are the tools for starting, maintaining, and growing a business in the Saranac Lake area...
We are armed with small business experience, and we understand your perspective and have the know-how to get things done. Throughout the region there are area experts backed by reputable organizations to provide the attention that you need in order to run a business.
New York Forward
The NY Forward Loan Fund is a resource for New York State Businesses. "The NYFLF targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees (90% of all businesses), nonprofits and small landlords that have seen a loss of rental income. The NYFLF is specifically timed to support businesses and organizations as they proceed to reopen and have upfront expenses to comply with guidelines (e.g., inventory, marketing, refitting for new social distancing guidelines) under the New York Forward Plan." Learn more
COVID-19 Small Business Guidance & Loan Resources
The Small Business Administration (SBA) has several programs and initiatives intended to assist business owners with whatever needs they have right now. The documents below provide information about the programs and how to apply, including the Paycheck Protection Program, Economic Injury Disaster Loans/Advance, SBA Debt Relief, SBA Bridge Loans, and Pandemic Unemployment Insurance.
- Franklin County IDA Resource Guide - includes a list of documents to gather to get started
- Comparison of Paycheck Protection Program & Economic Injury Disaster Loans
- Essex County IDA Resource Guide
- SBA Coronavirus Relief Options webpage
- List of Local SBA Lenders
- Summary of SBA Paycheck Protection Program
- National Council of Nonprofits Guide to the CARES Act
- Unemployment Insurance Information from Department of Labor
If you have a business idea and a detailed business plan, then your next step is to acquire business funding to actually get the business started. The financing you need to launch, maintain or grow your business can come from a variety of sources, including banks, SBA, crowdfunding, or grants. Learn more
Adirondack Economic Development Corp. (AEDC)
AEDC works with would-be business owners of all shapes and sizes to develop formal business plans. It also provides a comprehensive entrepreneurship-training course taught by certified instructors that provides business owners – or those who would like to be business owners – with a wide range of skills they will need to be successful in the long term. AEDC also offers business loans for those looking to get started or to take their business to the next level. Learn more
County of Franklin IDA
The Franklin County IDA staff provide assistance to new and existing businesses. Services offered include:
- A broad range of financing resources such as bonding, payments-in-lieu-of-taxes (PILOT) along with tax treatment for bonds, sales and use taxes and mortgage recording tax.
- Assistance with site selection and development for both commercial and industrial purposes
- Loans for real estate, equipment and machinery, inventory and working capital
- Assistance with navigating the various incentives programs offered by state agencies (e.g. ESD, NYSERDA, NYPA, etc.)
Essex County IDA
The Essex County IDA (ECIDA) offeres a variety of incentive and financing opportunities. The ECIDA is also able to partner with New York State and other Regional development organizations. Learn more
- Essex County IDA Loan Program
- Tax-Exempt Industrial Bonds (IRB's)
- Straight Lease Transactions
- PILOT (Payment in lieu of Taxes)
- Property Tax Abatement
North Country Center for Businesses in Transition
The Adirondack North Country Center for Businesses in Transition addresses the loss of area businesses by providing matchmaking services with potential buyers, access to planning tools and connection with existing services. The goal is to help owners sell their businesses on the open market, complete intergenerational family transitions or convert to an employee-owned or cooperative model. Learn more
Small Business Development Center (SBDC)
The SBDC is a great place to start if you are looking to:
- Write a business plan
- Discover sources of funding
- Prepare for e-commerce
- Develop a marketing plan
- Assess an invention’s viability
- Comply with licensing & regulations
These services are FREE of charge! Learn more
Now is the time to pay attention to New York's phased reopening plan, known as New York Forward. Businesses need to follow the state-issued guidelines and consumers are advised to learn about expectations in-store. Visit the website to find guidelines and safety plan templates for businesses as well as metrics being used to inform the reopening plan. Questions can be directed to the State here.
The mission of the Saranac Lake Area Chamber of Commerce provides services and representation for the members and generates economic development through promotional and marketing strategies. The Chamber provides business-building initiatives that focus on the critical priorities of the Saranac Lake community.
The North Country Chamber of Commerce is a regional chamber serving Clinton, Essex, Franklin, Hamilton and northern Warren Counties in New York State and southern Quebec. With more than 3,200 members, it is the largest business and economic development alliance in northern New York. Visit the website for a full list of services and activities.