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HELP AVAILABLE FOR VETERANS TO EXPAND BUSINESSES

The New York State Common Retirement Fund has $4 million available to lend to eligible  military veterans  for help expanding their businesses and are made available through the New York Business Development Corporation. Term loans range from $50,000-$150,000 at a below market fixed rate for current or former members of the United States’ armed forces.

Loans are available for working capital, business acquisition, purchase of real estate, machinery and equipment, etcEligible applicants must be New York businesses where the majority owner is a New York State resident who is a member or honorably discharged veteran of the United States Armed Forces (including the Regular, Reserve and National Guard components).

A goal of this loan program is to provide affordable, long term financial assistance to these small business owners to allow them to recover from the business consequences of their deployment. The program also aims to support the dreams and goals of current or former members of the armed forces to start or grow a small business.
 
Interested ap[plicants can contact Tom McHale, Senior Loan Officer, New York Business Development Corporation (NYBDC) at  (518) 694-8553 or by email to tmchale@nybdc.com.
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