Finance, Loan & Grant Opportunities

Below are llisted several programs and loans for businesses located in Cattaraugus County. There is a booklet available for downloading in our Downloads section (above).

Cattaraugus County Microenterprise Development Loan Fund Program (MDLF) 

The primary objective of the loan fund is to create opportunity for the establishment and expansion of microenterprise business within Cattaraugus County, to promote employment opportunities for low-to moderate-income County residents, and to preserve and expand the County's tax base. Contact us by filling out our contact form or call us at (716)938-2311.

Southern Tier Enterprise Development Organization (STEDO) 

The STEDO loan program is for businesses in Allegany, Cattaraugus, and Chautauqua Counties.  The primary purpose of STEDO is to create and/or retain jobs and stimulate development of small to mid-sized businesses within the region.  STEDO has a strong history of working closely with businesses and lenders to assemble financial packages flexible enough to accommodate the needs of most small business owners.  A STEDO loan application must be completed.

County of Cattaraugus IDA/CRC Financing Assistance Programs

The purpose of the County of Cattaraugus Industrial Development Agency (CCIDA)/Capital Resource Corporation (CRC) is to promote, encourage and attract such facilities in order to retain and attract job and business opportunities and economically sound commerce and industry in the various cities, towns and villages located within Cattaraugus County, New York.

Salamanca IDA

Activities funded are subject to HUD regulations and therefore must meet one of the following objectives: benefit low to moderate income persons, prevention or elimination of slums or blight, or meet community development needs having particular urgency (i.e. serious and immediate threat to health or welfare). The Agency may authorize loans for facility construction, acquisition, rehabilitation, or improvement of industrial or manufacturing facilities, research and development facilities, or other eligible business facilities located within the city. In addition, the agency may also finance a portion of the cost of a firm’s machinery and equipment to be used and located within the city.

City of Olean Community Development

The Olean Revolving Loan Fund has been designed to assist business development and expansion, to increase employment, and to improve the tax base of the City of Olean by offering low interest financing to existing or new concerns in conjunction with conventional financial institutions, public agency assistance or private equity.

New York State's Empire State Development

The Small Business Revolving Loan Fund (SBRLF) is a $50 million fund designed to create economic activity by providing greater access to capital for main street everyday small businesses. The program is targeted to small businesses that have had difficulty accessing regular credit markets. Access to information about this fund and many other Empire State Development loans and programs can be found at - Search for Business Loans, Grants and Financing

Fill out this form to find financing for your small business. The form provides a guide to programs for which you may be eligible

Paul Hoffman, Lender Relations Specialist
130 South Elmwood Avenue, Suite 540
Buffalo, NY 14202
(716) 551-4301 Ext. 306 

SBA Loans

If you’re planning to start a business or expand an existing business, you might need financing help. SBA participates in a number ofloan programs designed for business owners who may have trouble qualifying for a traditional bank loan. Visit for more information.

Venture Capital

Venture capital is a type of equity financing that addresses the funding needs of entrepreneurial companies that for reasons of size, assets, and stage of development cannot seek capital from more traditional sources, such as public markets and banks. Venture capital investments are generally made as cash in exchange for shares and an active role in the invested company.

New York Business Development Corporation (NYBDC)

A complement to conventional banking, working in partnership with banks to provide term loans, many of which do not meet the requirements for traditional financing. Their goal is to be more creative in underwriting. In many cases, they include multiple participations, SBA guarantees, flexible amortization and long-term payouts. NYBDC also manages the Empire State Certified Development Corporation which is otherwise known as The 504 Company. Empire State CDC is licensed by the U.S. Small Business Administration (SBA) to provide the SBA 504 Loan Program – a fixed-asset economic development program designed to promote growth and job creation in small businesses -- to eligible New York State businesses. A third component of NYBDC is the Statewide Zone Capital Corporation (SZCC), a privately owned loan and investment fund whose capital is used to promote the expansion and growth of new and existing businesses located within New York’s participating Empire Zones. For loan information visit -


The federal government does NOT provide grants for starting and expanding a business. Government grants are funded by your tax dollars and therefore require very stringent compliance and reporting measures to ensure the money is well spent.  As you can imagine, grants are not given away indiscriminately. Grants from the federal government are only available to non-commercial organizations, such as non-profits and educational institutions in areas such as, medicine, education, scientific research and technology development. The federal government also provides grants to state and local governments to assist them with economic development. Some business grants are available through state and local programs, non-profit organizations and other groups. For example, some states provide grants for expanding child care centers; creating energy efficient technology; and developing marketing campaigns for tourism. These grants are not necessarily free money, and usually require the recipient to match funds or combine the grant with other forms of financing such as a loan. The amount of the grant money available varies with each business and each grantor.

Catalog of Federal Domestic Assistance -

New York State Grant Programs -