Business Loans on Tug Hill and Eastern Lake Ontario

A plateau that makes its own weather

Tug Hill is a plateau east of Lake Ontario in Jefferson, Lewis, Oneida and Oswego counties. Lake-effect snow averages over 200 inches per winter, and the hamlet of Hooker holds the state's seasonal snowfall record. The core of the plateau is thinly populated, and most villages sit on its outer edge. Dairy farming and timber shaped the area's history, and snowmobile trails now bring winter visitors.

Along the lake shore, Oswego and the towns around it combine a working harbor with seasonal visitors and a mix of small industry and farms.

A winter-driven economy

• Snow removal and road crews earn in the heavy months and pay for trucks, plows, salt and fuel in advance.
• Snowmobile rentals, lodging and diners depend on trail conditions that change from week to week.
• Dairy and timber operators have steady work but must buy and repair heavy equipment.
• Small manufacturers and shops sell regionally and must deliver in bad weather.
• Auto and equipment repair is busiest after storms.

The hard part: a winter that is too good or too weak

A heavy winter means a lot of work and a lot of wear. A light one cuts deeply into snow-based revenue while the payment on a plow truck stays the same. Owners who plan for both have a better chance of keeping working capital in place. A line of credit, used for fuel, repairs and payroll during storms, can be one tool. It is not a substitute for knowing your break-even in a mild winter.

1. Compute your fixed monthly costs.
2. Estimate the revenue you would see in a light winter.
3. Fund only what that revenue would still support.

What we can say

We fund $25,000 to $5,000,000, funded in as little as 24 hours. We consider FICO 500+, review about three months of business bank statements, do not require tax returns and use a soft credit pull. The application takes about five minutes. Sole proprietors can apply.

For illustration only, with round numbers that are not our terms: a Lewis County plowing contractor is considering a $65,000 truck with a plow mount. If a mild winter cut the number of plowing calls in half, would the other revenue streams still carry the payment?

Checklist for a seasonal operator

• Gather about three months of business bank statements, noting any unusual weeks.
• List the equipment you would buy and what it earns per month.
• Write down your fixed costs in the months when work is slow.
• Decide the largest monthly payment a light winter could support.

Owners with several revenue streams, such as plowing, hauling and landscaping, tend to have the easiest planning. Owners with one stream should be more conservative about the amount.

Related pages

See the Tug Hill overview, the pages for Oswego County, Lewis County, Jefferson County and Oswego, plus the landscaping and snow removal guide. The application takes about five minutes.