CANTON – A Canton maple producer is among three producers in the North Country to get low-interest loans to increase productivity and create added-value products. Kenneth Tupper, Hilltop Maple …
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CANTON – A Canton maple producer is among three producers in the North Country to get low-interest loans to increase productivity and create added-value products.
Kenneth Tupper, Hilltop Maple Treats, is getting a $20,000 loan to install a reverse osmosis machine, a vacuum pump, tubing and taps with the potential to increase volume by 20 percent.
This is the first round of low-interest loans through the Development Authority of the North Country’s Maple Producers Demonstration Program, totalling $45,000. DANC says it will continue to accept applications while funding is available.
The Maple Producers Demonstration Program was established to assist producers across Jefferson, Lewis and St. Lawrence Counties in increasing productivity in order to create value-added products for retail consumption through local and regional markets.
The maximum loan amount is $40,000, and the borrower is required to commit a minimum of 25 percent of the total loan amount. Proceeds from the loan may be used for the purchase, installation, and associated soft costs for equipment to increase productivity. The loans are to be repaid over five years.
The Development Authority is partnering with the Cornell Cooperative Extensions of Jefferson, Lewis, and St. Lawrence Counties to provide the necessary technical assistance to determine project feasibility.
Applications are available at the Development Authority of the North Country and Cornell Cooperative Extensions of Jefferson, Lewis and St. Lawrence Counties.