|
New York Business
Development Corporation
Our
Success is Your Success - The process is easy; the
possibilities are endless.
November 2006 On-Line Newsletter
Message from the President and CEO
Patrick J. MacKrell
Dear Friends,
We hope that you
had a wonderful Thanksgiving!
Things are in full
swing here with tremendous momentum and enthusiasm for the
warm reception we receive as we visit our lending partners
across New York State. The election is behind us and we
look forward to working with the new administration to foster
economic development and opportunity in New York.
We continue
our focus on construction lending this month since so many of
our projects involve construction. Last month we talked
about financing soft costs in the 504 project and related
issues. In this month's
Lender's Corner, Marlies Capobianco writes
about our participation in construction financing. This
is an exciting new option to provide greater support to our
lending partners. We also touch on using the 7(a)
guaranty program to mitigate lender exposure during
construction; a little used, but very effective tool.
Our
Success Story of the Month involves construction
loan participation for a project in Saratoga. This was
the first loan approved and closed under our construction lending program.
This project is a good example of effective partnering and
creative loan structure to meet the needs of your customers.
We are very excited about this program.
Please take
the time to get to know Richard Amsterdam of our Long Island
office in our
Employee Spotlight. Richard is a
great resource to finance a new project and become part of
your own success story.
Welcome aboard to
Laurie Couture, our new Director of Communications & Marketing
as well as Editor-in-Chief of our Newsletter. Please
email her at
lcouture@nybdc.com
or
me at
mackrell@nybdc.com
with any
comments, suggestions, or submissions.
In addition to the
October
2006 Loan Approvals contained in this edition of
the newsletter we have posted a list of all loans approved
during our recently concluded fiscal year on our website
http://www.nybdc.com/loansarea.htm
for your information.
All the best,
Pat
SBA 504 Program
Effective Rates
20 Year Term
($1MM+)..................6.54%
10
Year Term ($1MM+)..................6.73%
Editors Note: Did you know that
this newsletter and prior editions are available at
http://www.nybdc.com/newsletter.htm
for your reference?
If you would
like to print our newsletter for your records
you may download this issue by clicking on the link below:
Download our November 2006 newsletter in
PDF format
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
New York Business Development Corporation (NYBDC)
Empire State Certified Development Corporation (ESCDC)
Statewide Zone Capital Corporation (SZCC)
Corporate Headquarters: 50 Beaver Street, Albany, NY
12207
1-800-923-2504
www.nybdc.com
|