July 2007 Newsletter
|
||||
|
|
|
|
|
| July 2007 Newsletter
|
||||
|
|
|
|
|
In light of the move to centralized processing of SBA 7(a) loans, now - more than ever - we can assist our lending partners to obtain SBA guaranties for term loans under either the Express or conventional SBA 7(a) program. As a participant in SBA's Preferred Lender Program (PLP), NYBDC is authorized to make 7(a) loans subject only to a brief eligibility review and SBA's assignment of a loan number. The result is a very substantial reduction in processing time over a conventional SBA 7(a) loan application submitted through centralized processing. Many of our lending partners enjoy the benefits of our SBA expertise and loan participations. Our knowledgeable, responsive staff can reduce the training, administration and management costs of a full-service SBA lending program by providing support from origination to liquidation. Please give me a call to discuss working together more closely on SBA lending. "Thanks to our veterans" is the theme of our Lender's Corner, with an exciting announcement about our new Veterans' Loan Program. Strong support from our member banks and the NYS Comptroller's Office allows us to offer this program, which provides fixed rate financing at below market rates for current and former members of the Armed Forces. Just in time for the All Star break, our Success Story takes us to the Cooperstown area for a triple play featuring three different projects and three different lending partners all coming together to bolster a burgeoning economic development effort with a baseball theme. We are proud to play such a crucial role in the growth of this region and its strong baseball heritage. Our Employee Spotlight sheds some light on senior vice president and resident handicapper Mike Zihal. Mike works with borrowers who are having financial difficulty. I cannot tell you how many times his patience, flexibility and creativity have helped a borrower turn around a deteriorating financial situation and salvage a small business. Of course, when those efforts are exhausted, he is the business end of our loan collection and SBA claims department, where he is equally effective. As you know, we work with many partners to improve opportunities for New York's small business. An important resource for business owners is the New York State Energy Research and Development Authority (NYSERDA) featured in our Partner Page. In our February 2007 News letter, we focused on the New York Energy $mart Loan Fund and the interest-rate reductions available for certain energy-efficiency improvements and/or renewable technologies. This month, we take a broader view of the many services, incentives and initiatives offered by NYSERDA. Best Regards, 
SBA 504 Program Effective Rates
10 Year Term ($1MM+).................6.85% 20 Year Term ($1MM+).................6.79% Editor's Note: Did you know that this newsletter and prior editions are available at http://www.nybdc.com/newsletter.htm If you would like to print our newsletter for your records you may download this issue by clicking on the link below: Download our July 2007 newsletter in PDF format |
|
|
||
|
|||||||||
|
New York Business Development Corporation (NYBDC) Empire State CDC: The 504 Company Statewide Zone Capital Corporation (SZCC) Corporate Headquarters: 50 Beaver Street, Albany, NY 12207 1-800-9-BDC-504 - www.nybdc.com Our Success is Your Success - The process is easy; the possibilities are endless. |
|
|
||
