GSBDC Loan Program
The Greater Syracuse Business Development Corporation (GSBDC), founded in 1964, is the premier economic development financing organization in Central New York. It is a private, not-for-profit corporation managed by the Greater Syracuse Chamber of Commerce. Its primary purpose is to assist businesses in Onondaga, Madison, Cayuga and Cortland Counties with their expansion and financing needs. It is a "one stop shop" for businesses seeking non-conventional sources of financing.
GSBDC offers a variety of funding programs targeted to business start-ups, expanding local businesses, business retention and business attraction projects. Although many of its programs target fixed-asset related projects such as realty acquisition or construction and machinery purchases, working capital funding is also available. Many of its programs offer below-market interest rates, fixed interest rates and low down payments.
GSBDC's primary loan programs include the U.S. Small Business Administration's 504 loan program, the NY Job Development Authority's direct loan program and three local Revolving Loan Funds. SBA has approved GSBDC as an Accredited Lender in the SBA 504 Loan Program.
Click HERE to download the GSBDC newsletter in PDF format.
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GSBDC is also approved by the SBA as a local intermediary on the SBA's "Pre-Qualification Loan Program". GSBDC has agreed to assist prospective and existing borrowers in developing a viable loan application package. Eligible business must be at least 51 percent owned, operated and managed by women, minorities or veterans.
Over the past several years, GSBDC has funded over 100 companies with loans totaling over $50,000,000. Loans range from $1,000 to $14,000,000. Altogether, these projects have created or retained over 5000 jobs in Central New York.
Local businesses which have received financing assistance over the years include L.& G. Stickley, Inc., Saulsbury Fire Equipment Corp., Paper Conversions, Inc., Clinton's Ditch Cooperative Co., Inc., Atlas Linen, SSAC, Inc., Schneider Packaging Equipment Corp., Tegmen Corp., Thomson Consumer Electronics, JGB Enterprises, Inc., K.J. Electric, Advanced D.C. Motors, Tessy Plastics, Ventre Packing Co., Inc., Oberdorfer Industries, MacKenzie-Childs, Ltd. and New Process Gear.
Peggy A. Adams serves as Executive Director. GSBDC can be reached at (315) 470-1880.
For additional information regarding our financing programs, please click here to send an e-mail to Peggy Adams: padams@SyracuseChamber.com. In order for GSBDC to make an initial program eligibility determination, please provide the following company information within your e-mail:
- Type of Company and Description
- Year Business Established
- Product or Service
- Market Territory
- Amount of Financing Request
- Project Costs
- Financing Purpose