New York Business Development Corporation [NYBDC]
Almost six decades ago New York's banks recognized the need for an alternate resource for NYS small businesses and joined together to create New York Business Development Corporation ("NYBDC"). From the beginning, NYBDC has been a bank crafted and funded alternative when conventional bank financing is not available...124 banks hold membership in NYBDC and provide the leveraged capital necessary to support a more expansive approach to credit. The NYBDC alternative is not separate or independent of its member banks instead represents our bank members' commitment to serve small businesses — both directly through their own product offerings and indirectly through their support of NYBDC. As an alternate lender, NYBDC routinely makes loans to start-up and early stage companies, challenging industries, and in cases where repayment is based on projections. We combine traditional underwriting with careful structure and maximum use of technical assistance providers and loss mitigation measures such as U.S. Small Business Administration loan guarantees.
New York, NY 10004