The state”™s Global NY Fund Tour will make two stops in the mid-Hudson Valley region on Tuesday to tell owners of small and medium-size businesses and nonprofits about the Empire State Development agency”™s new $35 million program to finance and support export trade by New York companies.
Gov. Andrew Cuomo”™s office in a press release said Empire State Development will partner with lenders to provide loans of up to $500,000 for companies to purchase equipment and inventory needed to deliver on export-related contracts and for working capital to support foreign accounts receivable. State officials said the program benefits businesses unable to access traditional credit markets.
For businesses in the distilled and fermented beverage industry, interest-free loans of up to $50,000 will be available to internationally promote the state”™s beverage industry.
Empire State Development also will award grants of up to $25,000 to help businesses start exporting or increase their exports. Grants of up to $50,000 are available to nonprofit organizations that provide export assistance and trade education to New York companies.
The Global NY Fund Tour will be at the Business Council of Westchester headquarters at 800 Westchester Ave. in Rye Brook from 8:30 to 10 a.m. Tuesday.
The tour will move to the Empire State Development regional office at 33 Airport Center Drive in New Windsor from 2 to 4 p.m. Tuesday.
