NYS Comptroller Thomas DiNapoli Announced NYBDC Loan to Nirvana Water
New York State Comptroller Thomas DiNapoli alongside NYBDC CEO, Pat MacKrell, visited Nirvana Water to announce the details of the company's $3.2 million NYBDC business loan. This loan marks the milestone of 1,000 loans granted to small businesses in New York using funds from the New York State Common Retirement Fund. The Common Retirement Fund has allocated $400 million to be used for state-based small businesses through New York Business Development Corporation since 1987.
Nirvana Water is the only distributor of drinking water from the Nirvana Natural Springs, which are located in the Adirondack Mountains. The funds were used to purchase a high speed bottling line which will allow the company to produce 8 million cases of water at the Boonville plant annually. More than 50 jobs will be created when the new bottling line starts running this week. NYBDC is proud to be part of this company's success.