About

NYBDC was created by an act of the NYS Legislature in 1955. NYBDC is privately owned, managed & funded by banks across the state with the mandate of promoting employment & economic development. This is done through long-term loans to creditworthy small & medium size businesses that are candidates for financing outside of or in conjunction with conventional bank sources. Many of its borrowers do not meet the requirements for traditional bank financing. It has programs specifically targeted at providing financing opportunities for minority and women-owned businesses.