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NYS Comptroller

THOMAS P. DiNAPOLI

New York Business Development Corporation (NYBDC)

The Common Retirement Fund provides the New York Business Development Corporation with capital to make loans to small businesses for working capital, equipment or real property. With its focus on small‐business lending, NYBDC can frequently offer more favorable terms than other lenders.

  • Granted 48 loans totaling $23 million during fiscal year ending March 31, 2014.
  • Awarded over 1,000 small businesses loans since 1987.
  • Since 2009, more than 35% of loans were awarded to women- or minority-owned businesses.
  • More than $1 million in loans have been made to businesses started or owned by military veterans.

Since 2007, Comptroller DiNapoli has increased the total amount of funds available to NYBDC by $100 million. The program has granted loans to small businesses in all 62 counties, and helps create or retain an average 9,000 private sector jobs each year, many of which are supported by the CRF investment.

Company Profile

For more information, visit the NYBDC website.