A Message from Our CFO
Chief Financial Officer, NYBDC
Report on Operations – FY 2014
Adjusting (and Re-Adjusting) our Focus to Find and Fill the Gaps
Almost six decades ago, New York’s banks recognized the need for an additional resource to provide capital for small businesses so they could create jobs and opportunity in communities across New York State. They joined together with other public-minded companies interested in providing a resource for small businesses and created New York Business Development Corporation (NYBDC). Our enabling statute set the framework for a unique organization and also established our core mission: to create opportunity and promote prosperity by supporting the capital needs of small businesses to start, sustain and grow operations. From the beginning, NYBDC has been a bank crafted and funded alternative to address financing needs not filled by the commercial loan products available in the market. The work of NYBDC as an alternate lender is not separate or independent of its member banks, but instead represents our members’ commitment to serve small business – both directly through their own product offerings and indirectly through their support of NYBDC and its affiliates.
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