State: $188M in loans provided to small businesses in 2018
ALBANY, N.Y. (AP) — New York Gov. Andrew Cuomo says the state has provided $188 million in loans to small businesses in 2018, creating thousands of jobs and retaining thousands of others.
The Democrat says the direct and facilitated loans went to more than 600 new businesses started this year and nearly 930 others that expanded operations. He says more than 80 percent of the loans went to minority or women-owned businesses.
Economic development officials say the 1,500-plus businesses that received loans from the state generated more than $1.5 billion in economic impact across New York, with about 6,000 jobs created and another 10,000 retained.
The Cuomo administration says the state’s main economic development agency has provided financial and other assistance to more than 4,400 new small businesses over the past six years.