Minority and Women-Owned Businesses, NYBDC, SBA Loans, Small Business Loans, NYS Loans

Minority and Women-Owned Businesses

NYBDC is committed to providing women and minorities access to business financing. Through our outreach programs, we participate regularly in business seminars and conferences for minority and women-owned businesses. Staff members reach out to women organizations and minority communities.

If you are a minority or women-owned business and are seeking a loan, we want to talk to you. You can obtain financing, even if you had credit issues in the past, as long as they are not a continuing issue. We do not use credit scoring to determine whether you are eligible for a loan. We talk to you and listen to you.

See what some NYBDC borrowers and community leaders have to say about us:

Mark Boyce, Director
New York Life Investment Management, LLC
(NYBDC Board Member)

Q: Why is it important to you to stay involved with NYBDC?

A: NYBDC has expanded its operations over the years and now offers several financial products and services to a broad spectrum of small businesses in New York State. This will make financing more readily available to minority businesses, and I welcome the opportunity to continue my involvement with NYBDC in a capacity where minorities can be assured that their financing needs are being adequately addressed.

Q: Why should minority business owners/executives look to NYBDC for their financing needs?

A: NYBDC is an equal opportunity lender actively engaged in making financing available to small businesses in New York State. Minority business owners/executives can be assured that their request for financing will be reviewed and acted upon in a fair and expeditious manner. NYBDC will work with you to provide loans at reasonable rates and on terms that will facilitate the growth of your business.

Elaine Jureidini
Initial Steps Child Development Center
Brooklyn, New York
Financing from NYBDC
$114,000 first mortgage
$91,200 SBA 504, 20-year second mortgage

"I wouldn't have a business today if it wasn't for the loan from NYBDC. It opened up other avenues for me and allowed me to get another loan with a bank to complete the renovations I wanted to do. I have another project coming up and I am going back to NYBDC - definitely. They took a chance on me, and I'm glad they did!"

Divine Ayivor
Jadi Leasing Corporation (taxi company)
Long Island City, New York
Financing from NYBDC
$200,000 SBA 7A Loan for Machinery and Equipment

"The loan was very important to our success. We needed to grow the business, and there's no way we could have done that without the loan. Nobody would give us a conventional loan. Because we run a taxi business, they were all afraid of the high rate of accidents, the instability of drivers. NYBDC was able to look beyond all that. I would recommend them very highly."

Lowell Hawthorne
Golden Krust Caribbean Bakery
Bronx, New York
Financing from NYBDC and The Bank of New York
$290,000 first mortgage from The Bank of New York
$242,000 SBA 504, 20-year second mortgage from NYBDC affiliate
$310,000 from The Bank of New York to purchase equipment
$258,000 from NYBDC affiliate to purchase equipment

Golden Krust Bakery features Jamaican patties, breads and pastries, chicken, curried goat and brown stewed chicken as well as ice cream and bottled beverages. NYBDC's loans are helping the company expand and meet its goals.

Susan Chen
Hokkaido Japanese Restaurant
New Paltz, New York
Financing from NYBDC and KeyBank
$190,000 15-year, fixed rate mortgage

"Banks sometimes discourage and reject you before giving you a chance to prove you can do it. NYBDC gave us a chance to prove what we can do. NYBDC really does help you make things happen."