The Minority and Women Revolving Loan Trust Fund Program (the "Program") was created by the State of New York in 1995 and is administered through ESD for the purpose of making low-cost financial assistance available to minority and women-owned businesses ("M/WBEs") that are unable to access traditional financial services. ESD's goal is to help start-up M/WBEs to grow and flourish in today’s economy.
To date, ESD has capitalized loan pools totaling more than $3.5 Million for 15 community-based economic development organizations located throughout the State. These organizations administer the Program at the local level and provide working capital loans of up to $35,000 and fixed asset loans of up to $50,000. In 2007, over $298,000 in loans were awarded to 14 businesses. The organizations also provide related technical assistance services to M/WBEs to help these businesses survive and grow, such as:
-Assistance with completion of loan applications
-Business Plan development
-Mentorship and peer group programs
-Credit Union services (where available)
Please contact the organization nearest to you as listed below:
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Chamber of Commerce of
Orange County, Inc.
11 Racquet Road
Newburgh, New York 12550
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Service Area: Orange County
Contact: Ms. Debbie Bodganski
Vice President
Government Initiatives & Grants
(845)567-6229 -phone
(845) 567-6271-fax |
Albany-Colonie Regional
Chamber of Commerce
1 Computer Drive South
Albany, New York 12207
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Service Area: Albany County
Contact: Mr. Walter Burke
Staff Accountant
(518) 458-9851- Phone
(518) 458-1055- Fax |
African American
Chamber of Commerce
100 Stevens Avenue – Suite 202
Mount Vernon, NY 10550
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Servicing: White Plains, Yonkers,
Mount Vernon, New Rochelle and small
towns and cities in the lower Hudson Valley
(Westchester County)
Contact: Ms. Robin L. Douglas
President/CEO/Founder
(914) 699-9050 – Phone
(914) 699-6279 - Fax |
Bedford Stuyvesant
Restoration Corp.
Brooklyn, New York 11216 |
Service Area: Part of Bedford Stuyvesant,
Clinton Hill, Ft. Greene, downtown,
Carroll Gardens, Red Hook &
Sunset Park
Contact: Ms. Bernice McRae
Dir. Economic Development Services
(718) 636-6924 – Phone
(718) 636-0511- Fax |
Bethex Federal Credit Union
20 East 179th Street, L.L.
Bronx, New York 10453 |
Service Area: Community Boards 1-2,
4-6 (Bronx County)
Contact: Joy Cousminer
Chief Executive Officer
(718) 299-9100 – Phone
(718) 294-4950 - Fax |
Bronx Overall Economic
Development Corporation
198 E. 161st Street, Suite 201
Bronx, New York 10451
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Service Area: Community Boards 1,2,3,4,
7,8,11 and 12 (Bronx County)
Mr. Steven Rodriguez
Technical Assistance Coordinator
(718) 537-5261 – Phone
(718) 537-5262 - Fax |
Local Development Corporation
of East New York
80 Jamaica Avenue - 3rd Fl.
Brooklyn, New York 11207 |
Service Area: Williamsburg, Greenpoint,
Bushwick, East New York & Brownsville.
Contact: Ms. Sherry Roberts
Executive Director
(718) 385-6700 x 11 - Phone
(718) 385-7505 - Fax |
Greater Jamaica Local
Development Corp.
90-04 161st Street
Jamaica, New York 11432 |
Service Area: Southeast Queens
(Jamaica, South Jamaica, Hollis,
Queens Village, St. Albans, Springfield
Gardens & Laurelton)
Contact: Ms. Helen Levine
(718) 291-0282 – Phone
(718) 658-1405 - Fax |
New York Association
for New Americans
2 Washington Street
New York, New York 10004 |
Service Area: Manhattan
(New York County)
Contact: Dong Tran
Loan Officer/Program Manager
(212) 425-2900 – Phone
(212) 344-1621-Fax |
Renaissance Economic
Development Corporation
180 111 Division Street
New York, New York 10002 |
Service Area: Chinatown & Lower East Side
Flushing, South Queens
Contact: Mr. Michael Lee, Program Manager
(212) 964-6022 - Phone
(212) 964-6003 - Fax |
Long Island Fund for
Sustainable Development Inc.
45A Seaman Avenue
Bethpage, New York 11714 |
Service Area: Nassau and Suffolk Counties
Contact: Sarah Lansdale, Executive Director
(516) 873-0230- Phone
(516) 873-0706 -Fax |
Syracuse Cooperative
Federal Credit Union
723 Westcott Street
Syracuse, New York 13204 |
Service Area: City of Syracuse
(Onondaga County)
Contact: Ron Ehrenreich, Treasurer/CEO
(315) 471-116x201 – Phone
Phone (315) 476-0567 - Fax |
Tompkins County Area Dev.
200 East Buffalo Street
Suite 102A
Ithaca, New York 14850 |
Service Area: Tompkins County
Contact: Ms. Ina Arthur, Office Manager
(607) 273-0005 - Phone
(607) 273-8964 - Fax |
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Westchester Housing Fund, Inc.
d/b/a Community Capital
Resources
14 Saw Mill River Road
Suite 3
Hawthorne, New York 10532
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Service Area: Westchester County
Contact: Melanie Stern, Program Manager
(914) 747-8020 – Phone
(914) 747-2049- Fax |
Washington Heights and
Inwood Development Corp.
57 Wadsworth Avenue
New York, New York 10033 |
Service Area: Upper Manhattan
(New York County)
Contact: Mr. Dennis Reeder
Executive Director
(212) 795-1600 – Phone
(212) 781-4051 – Fax |
For more information, please contact: Marion Samuels, Empire State Development (212) 803-3664.
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