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Whether you need a line of credit, a loan for property or equipment purchase or large scale financing for complex industrial developments, EWVIDCO is your link to public and private financing.  Special public financing programs are designed to help business owners lower the cost of expanding.  EWVIDCO has cultivated relationships with financing institutions to help industrial firms tap into a variety of funding sources appropriate for their needs.  Contact Adam Cloud at 718-388-7287 x164 or acloud@ewvidco.com for more information.

Small Business Administration Programs
Equity Capital
Linked Deposit
NYC Industrial Development Agency Programs


SBA Programs

SBA administers three separate, but equally important loan programs. SBA sets the guidelines for the loans while SBA’s partners (Lenders, Community Development Organizations, and Microlending Institutions) make the loans to small businesses. SBA backs those loans with a guaranty that will eliminate some of the risk to the lending partners.

SBA Program highlights

  1. 504

The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. 

Loan criteria:

  • The maximum SBA loan is $1.5 million
    • Must meet the job creation criteria or a community development goal
      • A business must create or retain one job for every $50,000 provided by the SBA except for "Small Manufacturers" which have a $100,000 job creation or retention goal.
  • The maximum SBA loan is $2.0 million
    • Must meet a public policy goal

Loan proceeds can be used for:

  • purchasing land and improvements
    •  including existing buildings
  • grading, street improvements
  • utilities
  • parking lots and landscaping
  • construction of new facilities
  • modernizing, renovating or converting existing facilities
  • purchasing long-term machinery and equipment

Loan proceeds cannot be used for

  • working capital
  • inventory
  • consolidating
  • repaying debt or refinancing

Interest rates on 504 loans are tied to an increment above the current market rate for five-year and 10-year U.S. Treasury issues. Loan terms are usually for 10 or 20 years.

  1. 7(a)

This particular program serves as the SBA’s primary business loan program to help qualified small businesses obtain financing when they might not be eligible for business loans through normal lending channels.

Loan proceeds can be used for:

  • working capital
  • machinery and equipment
  • furniture and fixtures
  • land and building (including purchase, renovation and new construction)
  • leasehold improvements
  • debt refinancing (under special conditions)
  • Start-up and existing small businesses

Loan terms are 10 years for working capital and generally up to 25 years for fixed assets. All owners with a 20% or more ownership stake in the business must personally guarantee their SBA loans. SBA's 7(a) Loan Program has a maximum loan amount of $2 million dollars. Interest rates may be fixed or variable. Fixed rate loans of $50,000 or more must not exceed Prime Plus 2.25 percent if the maturity is less than 7 years, and Prime Plus 2.75 percent if the maturity is 7 years or more.

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Small Business Investment Companies (SBIC)

SBICs are public-private partnerships contributing to an environment where America’s entrepreneurs can flourish – generating millions of jobs, billions of dollars in economic prosperity, and countless improvements to our health, safety, and way of life.

Equity Capital

Equity capital or financing is money raised by a business in exchange for a share of ownership in the company. Ownership is represented by owning shares of stock outright or having the right to convert other financial instruments into stock of that private company. Two key sources of equity capital for new and emerging businesses are angel investors and venture capital firms.

  • Angel Investors
    • Business “angels” are high net worth individual investors who seek high returns through private investments in start-up companies.  They typically invest in ventures involved in industries or technologies with which they are personally familiar
  • Venture Capital
    • Venture capital provides businesses a financial cushion. However, equity providers have the last call against the company’s assets. In view of this lower priority and the usual lack of a current pay requirement, equity providers require a higher rate of return/return on investment (ROI) than lenders receive

Linked Deposit Program

Empire State Development offers the Linked Deposit Program (LDP), a public-private partnership that provides businesses with affordable capital based on bank loans at reduced interest rates. These bank loans are subsidized by corresponding "linked" state deposits. The Linked Deposit Program Provides:

  • The ability for eligible businesses to obtain loans from commercial banks, savings banks, savings and loan associations, farm credit institutions and the New York Business Development Corporation (NYBDC)
  • A two to three percentage points savings on the prevailing interest rate for "Linked Loans," to make borrowing less expensive
  • Can provide a maximum loan amount up to $500,000 for four years

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New York City Industrial Development Agency (NYCIDA)

The NYCIDA has helped hundreds of companies and not-for-profit organizations to undertake capital expansions and to become more competitive by locating within New York City or by expanding their existing operations. Its mission is to encourage economic development throughout the five boroughs and to assist in the retention of existing jobs while creating and attracting new ones.

NYCIDA Programs

Bond Programs

  • Manufacturing Facilities Bond Program
    For manufacturers of tangible personal property who acquire, develop, renovate or equip their own facilities for use.  They can access triple tax-exempt bond financing, reductions in real estate, mortgage and sales taxes.
  • Not for Profit Bond Program
    For 501(c)(3) not-for-profit organizations that purchase, develop, renovate or equip their own facilities for use.  They can access triple tax-exempt financing, have their mortgage recording tax reduced.
  • Exempt Facilities Bond Program
    For companies developing facilities on publicly-owned docks and wharves or developing solid waste recycling facilities.  They can access triple tax-exempt bond financing, reductions in real estate, mortgage and sales taxes.
  • Empowerment Zone Facilities bond Program
    For Developers of commercial, industrial or retail facilities, as well as other types of facilities within the areas of Upper Manhattan and the South Bronx designated as the Empowerment Zone.  They are able to access triple tax-exempt bond financing, reductions in mortgage recording and sales taxes. Borrowers must commit to hire Empowerment Zone residents to be eligible for the program.
  • New York Liberty Bond Program
    This program provides triple tax-exempt financing for construction of and major capital improvements to commercial and retail facilities within Lower Manhattan and New York City. This is a cooperative program of the City and the State of New York. In allocating New York Liberty Bonds, the State and the City are seeking projects that will contribute significantly to the City’s revitalization and long-term economic health in the aftermath of the events of September 11, 2001. Financing is provided by the program’s issuers, the New York City Industrial Development Agency and the New York Liberty Development Corporation (administered by the New York State Empire State Development Corporation).

Incentive Programs

  • Industrial Incentive Programs
    The Small Industry Incentive Program (SIIP) and Industrial Incentive Program (IIP) provide eligible industrial companies with real estate tax reductions, mortgage recording tax waivers and sales tax exemptions on purchases of materials used to construct, renovate or equip facilities.
    • Eligible companies include manufacturers, distributors, warehousers and other industrial companies seeking to acquire, construct or renovate facilities for their own use
    • Companies that might qualify for SIIP must have revenues of less than $5 million or fewer than 100 employees. Companies that might qualify for IIP must have revenues exceeding $5 million and have more than 100 employees
    • Developers of industrial space in designated areas can seek mortgage recording tax waivers and sales tax exemptions on purchases of materials used to construct, renovate or equip facilities
  • Commercial Tax Incentives
    Certain tax incentives may be available to induce commercial companies to undertake major capital investments that result in the creation and retention of significant levels of jobs within New York City. NYCIDA benefits are discretionary. All applicants must satisfy eligibility requirements and demonstrate need for assistance.

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11 Catherine Street Brooklyn, NY 11211 • T 718 388-7287 • F 718 963-1905











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