Tag Archives: MWBE

MWBE Expos announced

Governor Andrew Cuomo announced Minority- and Women-Owned Business Enterprises (MWBE) Opportunities Expo events, hosted by New York State, in Western New York, the North Country, and Mid-Hudson regions. These one-stop-shopping workshops will directly connect certified firms with contractors and various New York State agencies to increase opportunities for business growth and job creation.

“If we’re going to rebuild the Empire State, we need to make sure the doors of economic opportunity are open to all,” Governor Cuomo said. “The Opportunities Expo is one of the many ways we’re connecting minority and women-owned businesses to up to $1 billion in contracting opportunities. I encourage businesses to take part in their nearest Expo and learn more about the benefits of doing business with the State of New York.”

In addition to providing the opportunity to meet procurement officers, the event will also feature workshops and panel discussions to deliver important information about New York State MWBE certification and business development resources, as well as basic government procurement training. The Expo will also include the New York State MWBE BOOT CAMP, which will bring together local resources available for MWBE firms, such as the Small Business Development Center (SBDC) network, Professional & Technical Assistance Centers (PTAC) and the Entrepreneurial Assistance Program (EAP) center network in the region.

MWBE Opportunities Expos, sponsored by Empire State Development’s Division of Minority and Women’s Business Development and local State partners, will be held as follows:

Western New York
Thursday, April 24, 2014
University of Buffalo – Allen Hall

North Country
Thursday, May 8, 2014
SUNY Plattsburgh – Warren Ballroom, Angell College Center

In addition, an Expo is scheduled to take place in the Mid-Hudson region this summer. For more information, please email expo@nysmwbeforum.org.

President, CEO & Commissioner of Empire State Development Kenneth Adams said, “The Opportunities Expo features a full day program of networking opportunities and panel discussions that will not only engage potential minority and women owned business owners but will also be helpful to actively certified firms. By continuing to focus our efforts on increasing the MWBE utilization in State contracts, we will help these small businesses grow and create jobs in our local communities which, in turn, will benefit all of New York State.”

More than a dozen State agencies and authorities involved in the region’s business community, through the Regional Councils and other initiatives, will participate in panel discussions and workshops including:

  • Capacity Builder Workshop – Leveraging MWBE Certification with Business Development support
  • Regional Council Awards, Round 2 & 3 – Opportunities for MWBE subcontractors
  • Review of “new” New York State Contract Reporter and New York State Contract Compliance System and what they mean to your business

For more information, visit Governor Cuomo’s website.

“Bridge to Success” loan program for minority and women contractors

Short-term loans are now available through participating lenders in the Bridge to Success loan program.  At least $20 million is available to expand access to short-term bridge loans for Minority and Women-Owned Business Enterprises (MWBEs). The program will provide qualified MWBEs with the short-term resources they need to participate in up to $1 billion in contracting opportunities with New York State.

“Small businesses are the engine of New York’s economy, but because of their size they have a harder time getting the capital they need to compete for state contracts,” Governor Cuomo said. “To encourage their full participation in rebuilding our economy, the Bridge to Success program will help more small businesses access short-term loans so they can do business with New York’s agencies and authorities. Supporting MWBEs is one more way we’re expanding economic opportunity for all New Yorkers.”

Empire State Development (ESD) is providing $2.73 million under the Bridge to Success program in loan loss reserves to five participating lenders who will make $20 million available in much needed, short-term, working capital loans to qualifying MWBEs. ESD’s support stimulates increased lending in this area and enables participating lenders to mitigate risk.

Empire State Development President, CEO & Commissioner Kenneth Adams said, “By partnering with high capacity lenders around the state, we are dramatically increasing the lending opportunities for MWBEs looking to work with the State. Many banks are reluctant to provide credit to these firms given the short-term nature of their capital need and the size and experience of many of these companies, despite a good idea or track record. The Governor’s Bridge to Success Program levels the playing field and opens the door for businesses that face challenges using traditional funding sources.”

Loans made under the program will typically be under $200,000 with terms under two years. Funds will provide qualified MWBEs the bridge capital they need to hire staff, buy materials, or purchase equipment, giving them a better chance to secure and perform on the up to $1 billion that is currently available in State contracting opportunities. Click here to learn more.