Grow Your Business

Secure Growth Capital

With new ideas come new funding needs! Canandaigua, Ontario County, and New York state administer a wide range of low-interest financing programs, tax incentives, and grant opportunities that can help support you in achieving your business development goals, whether it’s commercializing a new product, acquiring a new building, or piece of equipment, or securing working capital to fund an expansion.

TRADITIONAL LENDERS

• Canandaigua is home to a number of community-centered banks and credit unions that provide commercial banking and small business lending.

  • Canandaigua National Bank & Trust

  • Five Star Bank

  • Lyons National Bank

  • Citizens Bank

  • Community Bank

  • Key Bank

  • Chase Bank

  • Woodforest National Bank 

LOCAL BUSINESS LOAN PROGRAMS

• City of Canandaigua Small Business Development Loan Program New and existing small businesses that locate or expand in the City of Canandaigua are eligible for low-interest loans of $5,000-$50,000 to finance property acquisition, construction, or infrastructure improvements, as well as the purchase of equipment, fixtures, and furnishings, or leasehold improvements. Contact us [Link to CLDC contact page] to discuss your specific needs.

GRANT FUNDING FOR UPSTATE NY BUSINESSES

• FuzeHub Jeff Lawrence Innovation Fund Supports a set of activities designed to spur technology development and commercialization across New York State, including Manufacturing Grants, a Commercialization Competition, and other activities to accelerate small to medium-sized manufacturing and technology companies.

• Cornell Center for Materials Research Jumpstart Program Through collaborations with Cornell University experts and with matching funds from New York state, the JumpStart program helps New York-Based small businesses solve identifiable problems related to materials.

• Cornell Center for Materials Research Invest-NY program Provides New York State-based businesses with a fast and flexible way to conduct an R&D project with a Cornell faculty member, or to pursue the development of a system/technology/prototype beyond proof-of-concept, leading to scale-up and manufacturing. The program provides 25% of matching funds to complement other resources such as FuzeHub or SBIR funding (not to exceed $12,500 per project).

• Grow-NY Food and Agriculture Competition A business competition focused on growing an enduring food and agriculture innovation cluster in the Finger Lakes, Southern Tier, and Central New York regions. Finalists pitch their business ideas for a chance to win up to $1 million, and winning companies are required to execute bold plans to grow jobs, connect with local industry partners, and contribute to a thriving Upstate economy.

TAX INCENTIVES

• Ontario County Industrial Development Agency Tax Incentives Incentives designed to help businesses build or improve their manufacturing or production facilities. OCIDA’s standard 10-year payment-in-lieu-of-tax (PILOT) agreement provides five years of abated real property taxes on construction-related assessment increases with a 20% step up for the remaining five years. Abatements on construction-related sales tax and mortgage recording tax abatements are also available. Contact OCIDA to learn about what products might fit your specific needs.

• Empire State Development Start-up NY Program @ Finger Lakes Community College The Start-up NY program offers eligible new and expanding businesses with an opportunity to operate tax-free for 10 years on or near eligible university or college campuses in New York State. Partnering with these institutions also provides businesses with direct access to advanced research laboratories, development resources, and experts in key industries. Canandaigua’s Finger Lakes Community College has designated 2,200 square feet of vacant space on campus and 148,021 square feet of vacant space off-campus for eligible businesses in viticulture and wine technology; biotechnology; information technology and computer science; and advanced manufacturing/machining.

• Empire State Development Excelsior Jobs Program An incentive that encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. As a participant in the Excelsior Jobs Program, your business can qualify for up to four fully-refundable tax credits which can be claimed over a benefit period of up to 10 years. To earn the credits, participants must meet and maintain established job and investment thresholds.

• Empire State Development Employee Training Incentive Program: This incentive provides refundable tax credits to eligible New York State employers for skills training that upgrades or improves the productivity of their employees. Eligible businesses can also receive tax credits for approved internship programs that provide training in advanced technology, life sciences, software development, or clean energy. 

CROWDFUNDING

• Kickstarter Distinctly different from traditional venture capital funding, Kickstarter is a crowdsourced fundraising platform for creative projects and new businesses. Anyone can become a “backer” for a project by pledging funds to bring it to life.