New York Business Development Corporation (NYBDC) is a privately owned financial organization funded by banks across New York State to provide long-term financing to help small businesses across the state grow and prosper. NYBDC works closely with state and local economic development officials, the U.S. Small Business Administration, and local financial institutions. The Authority staff works with applicants and lenders to package applications to be submitted to NYBDC for funding.
Loan Amounts: $50,000 to a maximum of $1,000,000
Terms:
Working Capital 5-7 years
Equipment 7-10 years
Renovations less than or equal to 15 years
Construction or Acquisition 15-20 years
Rates: Variable or fixed
Max. LTV: Typically 75% to 80%
In addition,
NYBDC- Business New York
offers several loan programs through its subsidiaries and partnerships with:
• Empire State Certified Development Corporation
• NYBDC Capital Corporation
• Statewide Zone Capital Corporation of New York
For more information on NYBDC - Business New York programs, please contact:
Michelle L. Capone
Senior Project Development Specialist
Development Authority of the North Country
317 Washington St.
Watertown, New York 13601
Phone: (315) 785-2593
TDD: (800) 662-1220
