New York Business Development Corporation 
November 2006 Newsletter
News Highlights

 Empire State CDC Wins Pinnacle Award

SBA's New York City District Office awarded its FY 2006 Pinnacle Award to Empire State CDC as the lender that approved the most SBA 504 loans in the New York City District.  The district includes New York City, Long Island, and the lower Hudson Valley. Empire State CDC approved 82 loans totaling nearly $55 million.

NYBDC Executive Vice President Dave Terrenzio accepted the award from SBA Administrator Steven Preston with SBA Region II Administrator William Manger.  The award ceremony was held on November 9^th at York College in Jamaica, NY.

New Community Partners Join NYBDC
The Sullivan County Chamber of Commerce and the Rockland Business Women’s Network are NYBDC’s newest Community Partners joining 59 other economic development organizations to promote the growth and success of small business in New York State.

Statewide Zone Capital Corporation Declares Dividend
Statewide Zone Capital Corporation declared a dividend of $2,200 per share for shareholders of
record as of September 30, 2006 payable in December 2006.  This represents a 22% increase
over the FY 2005 dividend.

$100,000 Prize for Regional Innovation Announced
The Central Upstate Regional Alliance has launched the first-ever EssentialConnections.org Emerging Business Competition.  NYBDC is joined by M&T Bank as a title sponsor of the program.  The competition for $100,000 is open to emerging and small businesses within the 12-county Central Upstate New York region with less than $2.5 million in revenue.  A $2,500 cash prize will be given to the best individual business idea.  Applications are due by the close of business on Monday, January 15, 2007.  The winners of the $100K and the $2,500 will be chosen on April 5, 2007.  For more information, go to www.EssentialConnections.org/100k or contact Seth Mulligan at 315-422-3284 or smulligan@mda-cny.com.

NYBDC Goes to Phoenix
NYBDC participated in the New York Bankers Association Annual Convention in Phoenix, Arizona.  NYBDC Director Thomas F. Goldrick, Jr. (Chairman & CEO of State Bank of Long Island) was the moderator of a panel discussion on “Driving Loan Volume”. The panel consisted of NYBDC Director G. Gary Berner (Executive Vice President & Chief Lending Officer, First Niagara Bank), SBA District Director Robert J. Blaney (Arizona District) and NYBDC President & CEO Pat MacKrell.  This was a great opportunity to showcase our participation with our lending partners and the SBA Loan Programs.  NYBDC also participated in the meeting as an exhibitor.  Shown in the photo at our booth is NYBDC Senior Vice President Andrew Linehan and NYBDC Chairman James J. Byrnes (Chairman & CEO of Tompkins Trustco, Inc.).

Hudson Valley Region Changes
Tom McHale, our regional manager for the Hudson Valley has announced changes in loan officer assignments.  John King will now cover Ulster, Greene and Columbia counties, Cedric Carter will cover Rockland, Sullivan and Orange counties and Tom McHale will cover Westchester, Putnam, and Dutchess counties.  Tom, John and Cedric will continue to provide mutual support in the region and are available to answer any questions you may have about our loan programs.

NYBDC Attends NYBA Conference
SBA Region II Administrator William Manger and NYBDC Vice Presidents Curt Solomon and Jim Conroy participated in a panel discussion “Growing Your Small Business Portfolio: SBA and NYBDC”  at the New York Bankers Association Annual Retail and Small Business Banking Conference October 23-24.  NYBDC was also an exhibitor at the conference, which was held at the Crowne Plaza in Albany.

Congratulations to Brendan DeRiggi
Brendan J. DeRiggi, Esq. of  Certilman Balin Adler & Hyman LLP was recently featured in The Long Island News, "Ones to Watch" section.   Brendan and his partner, Michael O'Shea, Esq. represent NYBDC and Empire State CDC in New York City, Long Island, Westchester and Putnam counties.

Veteran's Workshop at Farmingdale University
Long Island loan officer, Stanley F. Grochocki, presented NYBDC and Empire State CDC's SBA 504 Loan Program and the specific benefits to Veterans at the Small Business Development Center's Veterans Workshop on November 16th.   Approximately 25 veterans were present, both male and female, representing veterans from the Vietnam era to present.

NYBDC Presents at the NYSSCPA's NYC Conference
New York City loan officers, Chet Sadowski and Linda Zou, presented SBA 504 financing options
at the New York State Society of Certified Public Accountants (NYSSCPA) conference held in New York City.  Approximately 65 people attended the event at the Restaurant and Hospitality Conference of the NYSSCPA's on November 15^th.

(NYBDC's Tom McHale and his team of junior executive bowlers)

NYBDC Bowls for Junior Achievement
NYBDC Vice President Tom McHale, pictured here with three of his four children and other members of the NYBDC family had fun raising money for other future business leaders.  They participated along with other NYBDC employees and their families in the November 4-6 weekend Junior Achievement Bowl-a-thon at the Bowlers Club in Latham, NY.  This competitive team of highly skilled bowlers
raised $900 for Junior Achievement of Northeastern New York. 

Poughkeeepsie Expo
On October 25^th, Andrew Linehan and Tom McHale represented NYBDC as exhibitors at the Poughkeepsie Area Chamber of Commerce’s Showcase of Champions, which is an exhibition of Poughkeepsie area small businesses and banks. There were over 100 booths and 10 break-out seminars including a presentation by Tom on NYBDC programs.

NYSSBDC in Queens
Regional Director Alfred Titone of the York College New York State Small Business Development Center (NYSSBDC) hosted a small business seminar on November 3^rd.  The panel discussion featured Frank Dito of the SBA, Kevin O'Leary of NYBDC, and Rosemary Cruz of Bank of America.  The discussion focused on Small Business Lending with approximately 25 attendees at the event.

 President's Remarks
Lender's Corner - Construction Financing
Success Story  NYBDC News Highlights  
Employee Spotlight - Richard Amsterdam  Welcome Aboard
October Loan Approvals  Current Loan Rates  Contact Us