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SBA Presents $300,000 Check to Microlender CEDC

Release Date: 
Tuesday, November 19, 2013
Release Number: 
14-08
Advisory Date: 
Tuesday, November 19, 2013
Contact: 
Rachael Stanton 315-471-9393 ext. 244

HUDSON, N.Y. - The U.S. Small Business Administration (SBA) has awarded $300,000 in new funds for startup and existing entrepreneurs in Columbia and Greene counties to Columbia Economic Development Corporation (CEDC). SBA Syracuse District Director Bernard J. Paprocki gave a presentation check to CEDC Executive Director Kenneth J. Flood on Thursday, November 14th.

“We are proud to be partners with CEDC in delivering valuable assistance in order to start and grow local small businesses,” praised SBA Syracuse District Director Bernard J. Paprocki.   

CEDC was the most active microlender in the SBA Syracuse District for the recently ended federal fiscal year 2013, with 12 approvals valued at $215,550. SBA’s microloan program funds are used by intermediaries such as CEDC to make small loans from under $500 up to $50,000 for typical business purposes. The microloan program also provides business-based training and technical assistance to microborrowers to help them be successful at starting or growing their businesses.

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