History of Town of Dryden’s Revolving Loan Fund.

The money that makes up Dryden’s RLF initially came from a Small Cities Community Development Block Grant (CDBG) from the U.S. Department of Housing and Urban Development (HUD). Dryden applied for this grant on behalf of a local business in 1999 and with the amounts that were repaid from the initial grant, Dryden now has funds to re-lend this money to local businesses that fit application criteria.
Starting in 2017, the fund is now administered by the Town of Dryden. Loan eligibility is determent by a business’ commitment to creating new jobs, among other criteria.