New York Business Development Corporation - August 2006
      News Highlights

n Hoyt is named ESCDC Lender of the Year for 2006 
Empire State Certified Development Corporation (ESCDC), is proud to announce that its Lender of the Year for 2006 is Stephen R. Hoyt, senior vice president, Tompkins Trust Company, Ithaca, NY. 

ESCDC offers New York state businesses access to the SBA 504 loan program.  Mr. Hoyt, along with fellow lenders at the Tompkins Trust Company, have successfully utilized the SBA 504 loan program for many of their current and prospective customers in recent years.  ESCDC has closed five (5) SBA 504 loans with Tompkins Trust Company this fiscal year.  Mr. Hoyt has been with Tompkins Trust Company for 20 years, is a graduate of Cornell University as well as the American Banker Association's Stonier Graduate School of Banking and also serves on NYBDC's Elmira Regional Loan and Advisory Committee. He is an avid sports enthusiast and enjoys running, biking, and golfing.

n NYBDC and ESCDC embark on pilot construction lending program
In June 2006 the NYBDC and Empire State CDC Board of Directors approved a construction lending pilot program which will allow Empire State CDC to participate in construction lending in connection with SBA 504 projects.  Empire State CDC is now able to purchase a participation in construction loans and advance with the lender bank during the construction process in amounts up to $500,000. Check with our loan officers for more details about this program.

n Duncan is named NYBDC Lender of the Year for 2006  
New York Business Development Corporation (NYBDC), named Kathie Duncan, senior vice president and regional manager of commercial lending for TD Banknorth its 2006 Lender of the Year. Kathie was awarded for her steadfast and loyal commitment to the advocacy of NYBDC's lending programs and her participation in loans and marketing with NYBDC.

Kathie’s banking career began over 30 years ago when she was hired by TD Banknorth (formerly known as First National Bank of Glens Falls). She obtained her bachelor’s degree from Siena College in Loudonville and a degree from the Stonier Graduate School of Banking.  Kathie lives in Queensbury with her husband Brian and their two teenage sons, Christopher and Philip.

nState common retirement fund invests in NYBDC
State Comptroller Alan Hevesi recently announced that the state will commit another $100 million to NYBDC to help fund small business loans statewide. This amount represents the third $100 million commitment to NYBDC. The original $200 million has already been invested in more than 600 businesses.

nBanks join membership
We are pleased to welcome Patriot Bank and Beacon Federal as our newest member banks. Our partners are crucial to our success as they refer loans and share the financing risk. Patriot Bank is headquartered out of Canajohaire and Beacon Federal is located in East Syracuse.

nNYBDC opens Central New York office
NYBDC recently opened a new office in Liverpool, New York. The Syracuse-area office, located at 290 Elwood Davis Road, serves Jefferson, Cayuga, St. Lawrence, Madison and Onondaga counties. The office was opened to raise its profile in these important communities allowing us to better reach out to regional small businesses and our lending partners. Shelley Smith will manage the office.

nSBA and NYBDC honor small business owners
Dozens of small businesses in the Capital Region and Syracuse received awards from the U.S. Small Business Administration, New York Business Development Corporation, and area lenders at the eighth annual Small Business Excellence Award Luncheons in May. Tierra Farms, Inc., Unilux Advanced Manufacturing, and Taughannock Aviation Corporation, borrowers of NYBDC’s affiliate, ESCDC, were among the award recipients. Salina Shoe Salon, a borrower of NYBDC, was also honored at the luncheon. The Small Business Excellence Awards luncheon is one of many events in local communities across the nation that celebrates National Small Business Week. Small businesses are the driving force behind America’s tremendous growth and job creation.

nMacKrell named to SBA advisory council
NYBDC’s President and CEO Patrick J. MacKrell, was recently named to the U.S. Small Business Administration’s National Advisory Council. The NAC provides advice, ideas and opinions on SBA programs and small business issues. His two-year term became effective May 1.
 

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