As Veteran’s Day approaches, New York State Comptroller Thomas P. DiNapoli is highlighting the more than $4 million in competitive fixed-rate small business loans available to military veterans through the New York Business Development Corp.
The New York State Common Retirement Fund provides funds to the New York Business Development Corp. (NYBDC) to make loans to New York-based small businesses for working capital, equipment or real property. Since 1987, NYBDC has used these funds to make more than 1,000 loans totaling $324 million to small businesses across the state. The loans are also guaranteed by the Small Business Administration.
Working with NYBDC, DiNapoli designated $5 million for veteran-owned businesses administered by NYDBC. There is $4 million remaining in available funding through the program.
Visit NYBDC’s website for more on the program.