President's Remarks

Success Story

Lender's Corner

News Highlights

Employee Spotlight

Partner Page

Loan Approvals

Current Loan Rates

Contact Us

NYBDC.com

March Madness brought great excitement to Albany as Siena College advanced to the second round of the NCAA Men’s Basketball Tournament, helping to distract us just a bit from excitement on the political front.  Hopefully, things will start to calm down as we welcome Governor Patterson to the Executive Mansion.  

We have seen unprecedented loan demand as our lending partners seek to mitigate risk by including an SBA 7(a) and/or 504 loan in the project financing.  Our Statewide Zone Capital Loan Fund has expanded to provide loans to all zone certified businesses regardless of location – this should help promote access to capital in challenging times. 

Our staff has been increased to accommodate our growth and to provide for more diversity in our organization. 

At a recently concluded staff retreat, we discussed maintaining our focus and commitment to support our lending partners.  We also discussed measuring and monitoring our performance with industry leaders.  We are in the process of developing a 10-question survey that we will distribute to our lending partners and their customers to help us gauge our performance.  We would like your input – what should we measure, how do we work more closely together, how do we provide more value to our partnership and your organization?  Your assistance in developing the survey would be greatly appreciated.  You can send suggestions directly to me at mackrell@nybdc.com.

In our Success Story we highlight a Yonkers, New York business and a lending partnership with M&T.  The ability of this small business to relocate to Yonkers from Manhattan and preserve its reputation for personal and professional service was quite an accomplishment. 

Our Lender’s Corner focuses on access to capital in difficult times. We know that credit challenges abound and urge consideration of participations with NYBDC and wide use of SBA loan programs to support our small businesses.

Lots of great New Highlights this month – don’t miss the item about Mike Taylor and his award as SBA Financial Services Advocate of the Year for Region II.  Many thanks to Paul Leone for nominating Mike and to Al Luhr, Bill Glass, Joe Donofrio and Sharon Lochocki for their supporting letters.

Need a handy person around the house (or an SBA loan in the Syracuse area)?  Call Shelley Smith.  Our organization is what it is because we have great people; Shelley is one of those.  Our Employee Spotlight features Shelley and gives some highlights of her recent trip to New Orleans.

Since many of our loans include funds for machinery and/or equipment purchases, we thought it would be a good idea to highlight some relevant sections of The Economic Stimulus Act of 2008 relating to depreciation.  If your customers are considering investing in their business, now would be a great time to do so and take part in the benefits that flow from accelerated depreciation.  At our Partner Page, Kevin B. Tully, CPA discusses some of the key points of these important and temporary changes.