New York Business Development Corporation (NYBDC) has planned expansion of its small business lending program so as to include financing for small businesses in the state of New York. The state of New York is planning to enter into a new export market or expand in an existing market.
Small businesses, no doubt, have unlimited potential for expansion in the global market place. As sale opportunity has increased so employment opportunity too has grown that is going to bring prosperity to the state. Growth of the economy is a priority for NYBDC that it seeks to support by expanding its lending program.
The U. S. Small Business Administration (SBA) is a partner of NYBDC as far as loaning to small businesses is concerned. Loans for small businesses will be approved and processed under the SBA Export Express Program. World markets are available for small businesses to expand operations. There are business opportunities and challenges but the rewards can be equally significant. NYBDC remains committed to help New York’s small businesses find the required capital for starting, sustaining and growing business operations as well as sale.
Loans in the range of $25,000 to $500,000 will be given out to businesses by NYBDC. The only pre-requisite is that businesses should be eligible for the SBA 7(a) business loans. Businesses applying for the loans can be wholesalers, service exporters, manufacturers and export trading companies.
This article was submitted by Rohit Arora, co-founder of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to