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President's Remarks
Success Stories
Lender's Corner
News Highlights
Employee Spotlight
Partner Page
Loan Approvals
Current Loan Rates
Contact Us
NYBDC.com
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Message from President and CEO
Patrick J. MacKrell
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What Next?
Each of the recent days has brought us new economic challenges. In the face of the rapidly changing economic landscape, we wrapped up FY 2008 with our best performance ever. On September 30, we looked back on a year of record closings and loan approvals, a well-performing portfolio, a strong balance sheet, strong earnings and an adequate allowance for loan losses. As we look forward into FY 2009, we see an opportunity to deploy our financial success and SBA expertise to help lending partners address the needs of deserving small businesses to gain access to the capital necessary to sustain and grow in these difficult times. NYBDC was spawned in difficult economic times to address precisely the issues that face us now. We are well positioned to make a real difference as we look forward to the months and years to come.
WE UNDERSTAND THE CHALLENGE AND WE ARE OPEN FOR BUSINESS!
In this month’s Lender’s Corner, Curt Solomon gave us his parting shot after 13 very productive years at NYBDC. Curt has relocated to Richmond, Virginia with his family. We wish them well!
“Control your own destiny” could be the theme of the first article on our Partner Page, which explores use of a 401(k) to provide the equity component for a business loan without income tax consequence. Additionally, Mike Pappas reminds us of the important benefits still available from the Economic Stimulus Act of 2008.
Success Stories highlights our Veterans' Loan Program and loans to a financial services company and a diner. This great loan program is made possible through the commitment of Comptroller Tom DiNapoli and the New York State Common Retirement Fund.
Our Employee Spotlight shines on Charlie Schreiber, who recently joined NYBDC. Charlie joins our rapidly expanding Long Island office just in time to enjoy our leadership role in SBA 504 lending on Long Island.
In our News Highlights, we look at some of the events and accomplishments that have made for an incredible year at NYBDC!
Warm regards,
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