GSBDC Loan Programs
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 Upstate 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.
GSBDC is also approved by the SBA as a local intermediary
on the SBA's
"Pre-Qualification Loan Program". GSBDC assists prospective
and existing borrowers in developing a viable loan application package. Eligible
businesses must be at least 51 percent owned, operated and managed by women,
minorities or veterans.
Over the past several years, GSBDC has funded over 200 companies with loans
totaling over $50,000,000. Loans range from $30,000 to $14,000,000. Altogether,
these projects have created or retained almost 10,000 jobs in Central New York.
Local businesses which have received financing assistance over the years
include L.& J.G. Stickley, Inc., Paper
Conversions, Inc., Clinton's Ditch Cooperative Co., Inc., Atlas Linen,
SSAC, Inc., Schneider Packaging Equipment Corp., JGB Enterprises, Inc., K.J.
Electric, Advanced D.C. Motors, Tessy Plastics, New Process Gear, and VIP Structures,
Peggy A. Adams serves as Executive Director. GSBDC can be reached at (315) 470-1880.
For additional information regarding our financing programs, please send
an e-mail to Peggy Adams: padams@GSBDC.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 of operations
- Year Business Established
- Product or Service
- Market Territory
- Amount of Financing Request
- Project Costs
- Financing Purpose