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Small Business Services Directory
NYBDC and ESCDC offers both conventional as well as SBA-backed loans from $50,000 to $5,500,000 to small businesses located anywhere within the State. Loan proceeds can be used for partnership buy-outs, real estate acquisition, working capital, inventory, etc. The term of the loan is from 3 to 20 years and the interest is fixed or variable, depending on the circumstances. Three years of personal and business financials, two years of projections [three years of projections for a start-up], a solid business plan, and personal guarantees are required. The application fees range from $250 to $1,200 depending on the size of the loan.
A public-private loan guaranty program that enables banks and community development credit unions to make loans to small and medium-sized businesses that fall below the criteria for conventional bank loans. Loans may have a minimum amount of $250,000 and may be used for working capital, real estate acquisitions, machinery and equipment, and physical improvements to real estate. Additional phone numbers: 212-312-4216 or toll-free: 888-NYC-0100, or the EDC Operator: 212-619-5000
New York's Business Permit Assistance Unit provides individualized, comprehensive assistance in identifying and obtaining the business licenses New York requires for opening and expanding your business. The OPAL website houses a comprehensive database of New York State permit information. OPAL allows users to access information on approximately 1200 business permits and identifies the permit requirements for over 400 different business models/types. Users can apply online for 50 different permits, pay required fees by credit card, and view the status of their application online.