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Article: New York Business Development Bank to Open Buffalo, N.Y., Branch.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 17, 2001
- Author:
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jan. 16--The New York Business Development Corporation, a bank-owned financing company, will open a branch in Buffalo's Olympic Towers Wednesday to focus on increasing small business lending in Western New York.
The corporation, funded by 159 banks, provides long-term loans and equity investments in small and mid-sized businesses. About 20 percent of the private corporation's $282 million loan portfolio is in Western New York.
The Business Development bank plans to "strongly market" the Small Business Administration sponsored SBA 7a and SBA 504 loans in Buffalo.
"Our lending in Western New York has been centralized in our Rochester office. ...