Pictured is the newly renovated Schroon Lake Department Store on Main Street in Schroon Lake. (Provided photo)

To the editor:

When we took over the historic Towne Store in 2023, we knew we weren’t just buying a business; we were becoming caretakers of a piece of Schroon Lake’s history. The store had been a cornerstone of Main Street for generations, but both the building and the business were showing their age. We saw the potential to bring it back to life, to honor its past while creating something vibrant for today’s community.

Our vision was big: to restore the 175-plus-year-old building, re-imagine the merchandise mix and turn the space into a year-round hub for locals and visitors alike. But like many rural entrepreneurs, we quickly ran into a familiar challenge: traditional financing just didn’t fit. Because we were technically new owners taking over an existing business, most conventional lenders couldn’t provide funding for the acquisition or the startup phase, even with a solid plan and personal investment behind it.

That’s where the Adirondack Economic Development Corporation (AEDC) came in. Their $100,000 loan bridged a crucial financing gap and, just as importantly, they believed in our vision. AEDC and the Lake George/Lake Champlain Regional Planning Board worked together to craft a creative funding package that allowed us to purchase the store and allowed us to see our vision through.

During renovations, we uncovered a hidden treasure, a 48-foot stained-glass transom that had been sealed behind a false facade for decades. Local artisans stepped in to help restore it, creating jobs and adding new life to our town’s streetscape. Today, that sign proudly glows again, a literal symbol of the light that community investment can bring.

Reborn under its original name, the Schroon Lake Department Store is once again a bustling anchor for our downtown, a place where neighbors gather, visitors linger and local pride runs deep.

We’re honored that this journey was recognized when Empire State Development named Amanda one of New York’s top entrepreneurs of 2025. But the real story is about what’s possible when mission-driven lenders like AEDC invest in rural communities.

CDFIs aren’t political; they’re practical. They make things happen in places where traditional financing often can’t. Supporting the federal CDFI Fund means supporting entrepreneurs, historic preservation and small-town main streets across New York.

Our story is proof: when small businesses thrive, communities do too.

Amanda and Ryan Ragland

Owners, Schroon Lake Department Store