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Buffalo, NY /

This profile was submitted by a community member. While the information is believed to be accurate, it was not posted by an official representative of Niagara Region Ventures Fund and should be regarded in that light. If you are aware of incorrect information posted here or if you are an representative of Niagara Region Ventures Fund who would like to assume control of this profile, please contact us.

Niagara Region Ventures Fund

  • Relative Activity: Low
  • Phone: (716) 842-1330
  • Email: info@buffaloniagara.org
  • 208x110 Address:

    665 Main Street Buffalo, New York 14203

Potential Benefit

- Initial loan/investment will be between $100,000 and $300,000, with a maximum of $500,000 outstanding to any one company.

- Loan/investment benefit will not exceed $100,000 per full-time job to be created over a three year period.

- Loans may be for up to 10 years.  Possible initial principal and/or interest payment deferral period not exceeding half the loan term may be available.  

Eligibility Criteria

- An eligible entity is a new or existing for-profit business which has a technology product or service that is already substantially developed and expected to generate commercial revenues within 12 months. 

- Preference wil be given:

(1) to companies based on technologies developed at local colleges and universities, medical and research facilities;

and

(2) to businesses that have previously received venture funding from other public agencies. 

- A company must have its principal business location and the majority of its employment in the Erie County labor market area.  Funding for businesses not in Erie County can be considered, provided a substantial benefit to Erie County can be demonstrated and the neighboring county matches the funding to be provided

General Info

The Niagara Region Ventures Fund is part of the Erie County Industrial Development Agency (ECIDA) Financing Group.  It supports increased private investment that expands or retains employment in Erie County, NY.  The Fund will consider funding for start-up, early stage and expansion stage companies that offer above average opportunities for growth in revenues, net income and net worth, and which are expected to provide long-term growth in the regional employment base. 

To apply for funds through this program, an initial feasibility determination will be made upon review of a submitted busines plan.  Business Plan Guidelines can be found at the website below.  The next step is agreement on the general terms and conditions of the requested funding.  A due dilligence review follows, conducted by staff and consultants, as appropriate.  When the due dilligence results in a recommendation for approval, the request is submitted for review and/or approval by the ECIDA Investment Review Committee and Board of Directors. 

For more information on how to apply for the Niagara Region Ventures Fund please click the link below or call Buffalo Niagara Enterprise at (716) 842-1330.