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Brasher to loan to local businesses

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The town of Brasher has taken the first step toward creating a local development corporation to make loans to local businesses.

Brasher's right next door to the Akwesasne Mohawk casino, and under the gambling compact that made way for that casino, the town gets a share of the profits--so do Massena, Fort Covington, and Bombay. That Mohawks give the money to the state, and the state passes it back to the towns, earmarked for tourism, infrastructure, gambling addiction education--and local economic development. Nora Flaherty reports.

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Nora Flaherty
Digital Editor, News

The Brasher town council passed a resolution last week to make about $100,000 of that money available for revolving loans. The details aren’t worked out yet, but town supervisor Jim Dawson says he’s anticipating the loans could be used for startup money or expansion, and could be for big or small amount:

If you came along and said I want to start a coffee shop, I only need $5,000 or $6,000 dollars I got a bank loan but I need to get over the hump, and It could be as high as somebody wants $20,000 or $25,000 to build something a little more major of substance.

Dawson says he’d like to see a portion of the casino money applied to the loan fund every year. Ultimately he anticipates the corporation will appoint a five-person committee to decide who gets the loans; and they’ll be distributed subject to public hearings.

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