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SYRACUSE - The New York Business Development Corp. (NYBDC) provided 262 small-business loan disbursements totaling $87.7 million for the 2004 fiscal year. The company also posted record earnings of $952,840. Last year, NYBDC reported $61 million in 198 small-business loans. Robert Lazar, president and chief executive officer of NYBDC, credits the increases to the diligent work of his 40-member staff. The lending consortium's fiscal year ends Sept. 30, as does the U.S. Small Business Administration's (SBA).
NYBDC has $394.5 million in outstanding loans statewide, up from the previous record-high $358.2 million last year. The company estimates that its lending activity helped create or retain 4,722 jobs statewide.
SBA loans, rural business loans, and loans in non-traditional markets such as...