loans

7:06am

Wed December 25, 2013
Business

Refugee communities diversify upstate business environment

Somali Community in Western New York

The desire for familiar food, clothing, and other products from home is spurring refugee communities in upstate New York to start their own businesses. In response, a group in Rochester has organized a six-week startup business training course to help the Somali refugee community navigate the process.

“They can actually create their own little local economy where they can exchange, similar to what they had in Somalia,” says David Dey, president and CEO of the Institute for Social Entrepreneurship.

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7:36pm

Wed November 13, 2013
The Upstate Economy

Jefferson County entrepreneurs will have harder time finding startup funds

Business startup loans will be harder to come by in Jefferson County, as the Industrial Development Agency's micro-enterprise loan fund dries up.
JCIDA

Entrepreneurs in Jefferson County are going to have a harder time finding startup money, now that a loan fund meant to help them is running low. That's good news and bad news.

Here's the bad news: The Industrial Development Agency's micro-enterprise loan fund is down to about $31,000. That means the next successful applicant is going to drain it dry.

"At some point, someone is going to come to the loan fund for dollars for their business, and we won't have any to lend," says Don Alexander, IDA chief.

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4:55pm

Tue December 4, 2012
Politics and Government

Proposal would allow credit unions to lend more to businesses

Senator Kirsten Gillibrand is pushing for Congress to increase the amount of money credit unions can loan businesses.

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10:52am

Tue April 17, 2012
Regional Coverage

Schumer defends lower student loan rates

Don Saleh, Vice President of Enrollment Management at SU
Durrie

Federal Stafford Loans allow students to defer student loan payments while attending school full-time. Although current interest rates hold at 3.4%, they are set to double on July 1st as a result of the expiration of the 2007 College Cost Reduction and Access Act.

Speaking on the steps of Syracuse University on Monday, Senator Schumer pledged to put his weight behind a bill to keep student loans at their current rate for another year.

"It is now a greater burden than almost any other lending burden around," Schumer said. "For the federal goverment to charge 6.8 percent at a time when interest rates are so low, is almost highway robbery."

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