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NYBDC Quick Liquidity Loan Program & SBA Disaster Loans in Response to Hurricane Irene

New York Business Development Corporation (NYBDC) approved a loan program yesterday in response to financing needs as a result of damage from Hurricane Irene. This program is aimed towards providing 'quick liquidity' (i.e. cash). The following bullet points summarize the program:

About NYBDC (http://www.nybdc.com/index.html)

New York Business Development Corporation (NYBDC) is a complement to conventional banking, working in partnership with banks to provide term loans, many of which do not meet the requirements for traditional financing. Our goal is to be more creative in our underwriting. In many cases, we include multiple participations, SBA guarantees, flexible amortization and long-term payouts. 

For more information please contact Jim King at jking@nybdc.com or Mid-Hudson SBDC at 339-0025.