Lt. Governor Donohue Presents New York's 2003 Small Business Not-For-Profit Organization Of The Year
Lt. Governor Mary Donohue today presented the World Trade Center Small Business Recovery Loan Fund with the 2003 Small Business Not-For-Profit Organization of the Year award. The awards are presented annually to recognize outstanding contributions to New York State's small-business community.

"Governor Pataki's fostering of a business-friendly environment, combined with the hard work and dedication of organizations like today's award winner, have helped New York's small-business community remain strong," said Lt. Governor Donohue.

The World Trade Center Small Business Recovery Loan Fund provided financial assistance to small businesses in lower Manhattan adversely impacted by the 9-11 disaster. The Loan Fund was established in the weeks following the disaster to make critical working capital available to lower Manhattan small businesses struggling to rebuild. Application paperwork and approval processes were streamlined to offer businesses rapid access to funds. In addition, New York State Small Business Development Center staff provided expert business counseling and planning assistance to all loan applicants. This resulted in the stabilization and recovery of hundreds of small businesses in lower Manhattan.

The Loan Fund is a 501©3 not-for-profit organization jointly administered by the New York State Small Businesses Development Center (SBDC) and the New York Business Development Corporation (NYBDC). To date, the Fund has distributed more than $3,000,000 in loans to small businesses.

The State University of New York (SUNY) administers the SBDC. Twenty-three SBDC Regional Centers are located on the campuses of SUNY and SUNY's educational partners, including private universities and the City University of New York. "In the World Trade Center Small Business Recovery Fund, the SUNY SBDC, in partnership with NYBDC, showed extraordinary ingenuity in responding quickly and flexibly to the economic crisis resulting from the worst terrorism in U.S. history," said SUNY Chancellor Robert L. King. "The Loan Fund illustrates SUNY's ability to enter into dynamic partnerships that deliver timely economic assistance to New York businesses."

SUNY Provost Peter D. Salins described the Loan Fund as innovative and incredibly responsive. "In a time of inordinate challenge, the SBDC-in partnership with the State University and NYBDC-redefined public service, reaching out to New York's small businesses with an immediacy that made a real difference."

"The Small Business Development Center staff are proud to have been able to assist entrepreneurs dealing with some of the biggest challenges they have ever faced," said SBDC State Director James L. King. "The greatest satisfaction comes from knowing the Loan Fund helped hundreds of small businesses keep their doors open in these difficult times."

"Small business lending is our mission," said NYBDC President Robert W. Lazar, "but this unprecedented situation called for us to be innovative, flexible and to respond quickly. I am honored that today's award recognizes these efforts."

"The World Trade Center Small Business Recovery Loan Fund stands as a example of how people and organizations can effectively work together to overcome even the greatest obstacles," said Lt. Governor Donohue.

"Small business is a key component of New York State's economy, employing more than 3.6 million people," said Charles A. Gargano, Chairman of Empire State Development (ESD), which sponsors the awards with the New York State Small Business Advisory Board. "These awards provide an opportunity to recognize outstanding achievements by and for members of the Empire State's small businesses."

Lt. Governor Donohue recently announced that Doreen Marks, President of Otis Technology Inc., was named the 2003 Small Business Person of the Year. In addition, Ronald Fay, Chairman of the Candor Business Development Committee was awarded the 2003 Small Business Advocate of the Year and Digital Rochester was also selected as 2003 Small Business Not-For-Profit Organizations of the Year.

Nominations for the small business awards were solicited from trade associations, civic organizations, chambers of commerce, private and public educational institutions, and other types of business organizations on behalf of a small business, an individual or a not-for-profit organization.

Applicants may also nominate themselves. Applications were reviewed by the New York State Small Business Advisory Board, which made its award recommendations. To be eligible for an award, nominees must meet certain criteria outlined in the nomination application forms available from ESD's Division for Small Business.

Applicants for Small Business Person of the Year award also must meet the definition of a small business as established by Section 131 of the New York State Economic Development Law. -more-

For more information about ESD's services for small businesses, contact its Division for Small Business toll-free by calling 1-800-STATE-NY, via e-mail or visit their web site at # # #

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