Columbia County is home to two full-service financial institutions. Founded in 1850, First Niagara Bank has branches in Chatham, Copake, Germantown, Greenport, Hillsdale, Hudson, and Valatie. Kinderhook Bank, established in 1853, has its headquarters in Kinderhook and has branches in Chatham, Greenport, and Valatie.
Regional banks with a presence in the County are Bank of America, with branches in Chatham, Hudson, Germantown, and New Lebanon; The Bank of Greene County, in Hudson; KeyBank, with branches in Copake, Greenport and Philmont; TD Banknorth, in Greenport; and Trustco Bank, with branches in Chatham, Hudson, and Valatie.
In addition to offering local financing options, the Columbia Hudson Partnership can open the door to scores of state and federal programs for economic development. Some of these programs provide outright loans; others help the bottom line by funding programs to lower utility costs, train workers, and make operational improvements.
MicroLoan Program Through the Columbia Hudson Partnership, the Columbia Economic Development Corporation (CEDC) is the Columbia County Small Business Administration (SBA) Intermediary Lender for small businesses in Columbia and Greene counties. For business owners with the potential to operate successful businesses, we have the money to help your business reach the next level.
The SBA MicroLoan Program provides loans of $2,000 to $35,000 at reasonable interest rates and repayment terms. Funds may be used for working capital and/or the purchase of equipment, inventory, or supplies.
Any business or prospective business in Columbia or Greene County with under $3.5 million in annual sales and fewer than 500 employees is eligible. There are also specific SBA industry standards that are applied to each applicant. A business plan is required for start-up businesses.
The Partnership staff can assist applicants in determining whether the MicroLoan Program is right for them.
Capital Funding: Revenue Bonds
The Columbia County Industrial Development Agency (IDA) is an important tool for funding large-scale projects. The IDA issues tax-exempt Industrial Revenue Bonds on behalf of companies that are acquiring or improving facilities. These bonds make it possible for smaller companies to get financing at the lower interest rates that FORTUNE 500 companies pay. A wide range of companies and projects are eligible for IDA financing, from factories to day care centers. However, IDA financing is appropriate for amounts from $1 million to $10 million, and our policy favors industrial enterprises.
Revolving Loan Fund The Revolving Loan Fund offers low-interest loans to businesses creating jobs in Columbia County. The majority of these loan funds are Community Development Block Grants funds, which means that 51% of the jobs created with these loan funds must be available to be filled by individuals currently at a low to moderate income level. In addition, there is no specific talent needed to fill the basic requirements for these jobs and the employer is willing to provide any necessary training.
Columbia County has nearly fifty country farm markets and orchards, many of them specializing in organic produce.
The Old Chatham Sheepherding Company is the largest sheep dairy farm in the United States.
Census/Demographics
The estimated population of the County is 63,668.
Hudson, once a busy port city frequented by whalers, is the Seat of Columbia County.
Arts & Culture
PS/21 - Performing Spaces for the 21st Century, is a new venue under the direction of Gwen Gould, offering classical sings under an open-air tent in Chatham. www.ps21chatham.org.
What's New
Migrant Farm Workers Get New Housing Through Innovative Program
Migrant workers on several farms in Columbia County are receiving new living quarters thanks to a unique program created by the Columbia Hudson Partnership.
