Areas Served: Statewide New York
The Small Business Revolving Loan Fund (SBRLF) is a $50 million fund designed to create economic activity by providing greater access to capital for main street everyday small businesses.
The program is targeted to small businesses that have had difficulty accessing regular credit markets.
The 2010-11 State budget provided $25 million in state funds and will leverage at least $25 million in private matching funds.
Program funds used to finance an applicant loan will not be more than 50% of the principal amount and no greater than $125,000. There are categories of loans: – Micro-Loans – principal amount less than or equal to $25,000 – Regular Loans – principal amount greater than $25,000 Participating Lenders This program supports additional small business lending in every region of the state.
Twenty community development financial institutions and other community-based lending organizations operating in all regions of the state were selected to participate.
Contact InformationEmpire State Development
Address: 95 Perry Street, Suite 500
City: Buffalo
State: New York
Website:
http://www.esd.ny.gov/BusinessPrograms/SBRLF.html
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