NCA news & updates
April 2021
Member Spotlight — AEDC Offers Pandemic Recovery Working Capital Loan
Learn more about AEDC, the services they offer, and the clients they serve at
The Adirondack Economic Development Corporation (AEDC) is a nonprofit Community Development Financial Institution (CDFI) based in Saranac Lake providing business training, technical assistance, guidance, and access to capital to entrepreneurs and small businesses across the 14-county North Country region. Start-up and existing businesses can expect individualized needs assessment, and short or long-term support. This may include classroom training on business basics; no-cost technical assistance such as business planning, product development, or marketing assistance; connections to appropriate resources; or access to capital with creative, flexible terms.

AEDC has created a “second generation” (following its 2020 program) loan product to meet the needs of small businesses struggling with the pandemic. The AEDC Pandemic Relief Loan provides up to $10,000 in working capital to enable eligible businesses. For more information about the program, contact Steven Garneau at or 518-891-5523.
Spread the Word About Broadband Survey Initiative
Access to affordable broadband (high-speed internet) is no longer a luxury; it is necessary for students to be able to learn from home, for parents to be able to work from home, for people to be able to use telemedicine and to attract economic development to the North Country. This is one of the North Country Alliance's outreach agenda's priority issues for 2021.

St. Lawrence and Jefferson Counties have partnered with the Development Authority of the North Country to document exactly which areas unserved or underserved by high-speed internet. Part of the project requires input from every resident and business, even those with good internet service. Please share the links to the left widely.
NCA Annual Reports Available On Website
The FYE 12/31/2020 NCA Annual Report is available at this link.
The North Country Alliance is a 501(c)3 local development corporation. In 2017, the NCA was notified by the Authority’s Budget Office that it was required to comply with the Public Authorities Accountability Act. While the NCA maintains that it is not a public authority under the definition prescribed by the Authority’s Budget Office, the NCA does voluntarily comply with the Accountability Act. 

In doing so, the NCA posts required policies, procedures, annual reports, and financials not only to its own website, but to the PARIS reporting system. All of the organization’s information for FYE 12/31/2020 can be found on our website, under the Governance tab.     
NCA Loan Makes a Dream Come True
288 East Broadway St.
Cape Vincent
The Cup of Joy Café is in a historic building in Downtown Cape Vincent. Owner and operator North Country native Amanda Derouchie was ready to become an entrepreneur when the opportunity presented itself to buy the shop overlooking the St. Lawrence. Amanda had substantial savings and a solid credit score, but because of the state of the business she wanted to buy, finding a commercial loan was challenging. The North Country Alliance saw the potential for this business and filled the financing gap.

Now nearing her fourth season, Amanda has successfully built and grown the company. Cup of Joy has partnered with North Country coffee roasters Gato Diablo and offers on-site roasted bird-friendly coffee beverages, fresh fruit smoothies, and a lot more including full lunch and breakfast menus. During the pandemic The Cup of Joy Café remained open by offering to-go and outdoor seating and delivery.

“It was a lot of extra work, but it paid off in the end.” Amanda is grateful of the North Country Alliance assistance making her dream become a reality.
NCA Working Capital Loan Program: Cash When You Need It
For information on this program contact Matt Siver at or 315-661-3200.
The North Country Alliance was the beneficiary of working capital funds through the New York State Urban Development Corporation in 1989. For over 30 years, the NCA has been providing small businesses from across the North Country with access to working capital. Working capital breathes life into businesses and is the cash available to pay operating expenses like utilities, salaries, and rent.  

The Working Capital Loan Program provides up to 90% financing with a minimum loan amount of $20,000 and a maximum of $100,000. The term can be up to 5 years and the interest rate is fixed at 5%. Eligible businesses can be for-profit or not-for-profit entities. Personal and corporate guarantees are required.