Akwesasne Revolving Loan Fund
Office of Economic Development
Mission: To promote economic self-sufficiency through the provision of training, technical assistance and financing designed to support the development of new and expanded businesses, which shall support a strengthened and diversified economy, while creating new employment opportunities.
The ARLF was established to help support the Akwesasne business community, create a diversified economy and generate new employment opportunities. New and existing businesses may apply to the ARLF. The business must be 51% Native owned by a registered member of the Saint Regis Mohawk Tribe (over the age of 18) and must be located on the southern portion of Akwesasne (U.S. side). Existing businesses must have fewer than 50 employees and annual gross revenues of less than one million ($1,000,000) to qualify.
The loan can be used to acquire real property, construction and rehabilitation, equipment and other machinery purchases, inventory and working capital. All proposed projects must be in compliance with Tribal codes and zoning. Loan proceeds may not be used to perform debt consolidation or for housing purposes. Other ineligible uses would be for activities which consist solely of housing or which include housing as a predominant component, production of agricultural products, comprehensive area wide type planning, programs operated by cable TV systems, projects dependent on other funding unless a firm commitment of other funding exists.
This loan fund supports requests from $1,000 up to $10,000. Larger amounts may be subject to additional documentation credit and collateral requirements. Loans must be repaid in five years or less.