NYBDC and EWVIDCO hosted a meeting to discuss the progress of The Food Manufacturer's Growth Fund and to hear from the various City-based service providers about the needs of food businesses in their areas.
TurnKey Internet, a full service hosting provider and data center based in the Capital-region, utilized the 504 program to finance their expansion. Since then, TurnKey has doubled their employees and been able to purchase green technology.
When presented with an opportunity to purchase a furniture building in Oneonta, NY, owner Art Scholet knew he couldn't pass it up. Together, NYBDC and NBT Bank were able to package a 504 loan to help purchase and renovate the space.
After moving their carton manufacturing facility to a bigger space in Syracuse, the owners of HSM Packaging needed new equipment. With the help of NYBDC, they secured a 504 loan to purchase the equipment. Read more about HSM Packaging here.
It's can be challenging for food entrepreneurs to find funding for their businesses. EWVIDCO's financing workshops, highlighting the NYC Food Manufacturers Growth Fund, serve as a means to help bring awareness to available financing opportunities.
Click here to read the release from Development Company Finance LLC regarding the Debenture Funding schedule.
This week's Lender Q&A answers the question: How long does a business have to meet 504 occupancy requirements?
NYBDC President Pat MacKrell, was recognized by Mayor Michael Bloomberg earlier this week to acknowledge NYBDC's commitment to helping businesses throughout New York City.
Brothers Chris and Brian Martell decided to pursue their dream of brewing beer as a career. With the help of NYBDC, they secured a 504 loan to purchase and renovate their space in Saratoga, NY. Click here to read the story of Druthers Brewing.
This week's Lender Q and A asks: Can you refinance a 7(a) loan with a 7(a) loan? Click below to find out the answer.
Blue Marble Ice Cream manufactures, wholesales and retails artisanal organic ice cream. When financing was needed to expand the wholesale operation of the company, as well as to finance a new retail location in Manhattan, NYBDC was able to help.
NYBDC lenders are helping to answer questions that arise during the loan process. In this week's Lender Q&A, NYBDC's Tom McHale, discusses the differences between a start-up business and the extension of a business.
Owners Dr. Theresa Cavallaro and Dr. Robert Cohen had recently financed the expansion their animal hospital using NYBDC funding when Hurricane Sandy destroyed the renovations. They were able to access emergency loan funds to rebuild their business.
This week's Community Partner Highlight features Marcus Mayo of IncubateNYC. Learn more about how this organization helps first-time entrepreneurs start and grow their business.
Community Partner Highlight: Robinson Hernandez, Executive Director and Michael Kim, Senior Client Manager at NBAT
The New Business Acceleration Team coordinates the agency inspections needed for eating and drinking businesses to open in NYC. NBAT's Robinson Hernandez and Michael Kim discussed how they accomplish this in this week's Community Partner Feature.