Statewide Empire Zone Program (New York)
Last modified on February 12, 2015.
|Name||Statewide Empire Zone Program (New York)|
|Policy Type||Loan Program|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy|
|Program Administrator||New York Business Development Corporation|
| Last Substantive Modification
Business that do not meet the requirements for standard financing, but are in need of capital, may qualify for NYBDC’s Statewide Empire Zone Program. The Statewide Zone Capital Corporation (SZCC), a privately-owned loan fund, provides financing to businesses located within participating Empire Zones; the loans range from $30,000 to $300,000 and feature below-market interest rates, minimum down payment requirements, and flexible repayment terms. Funds may be used for working capital, real estate, equipment, debt refinancing, and more. NYBDC manages the SZCC.
|Department||New York Business Development Corporation|