The SBA 504 Loan Program is a fixed-asset economic development program designed to promote growth and job creation in small and medium-sized businesses.

To implement this service, The Business Council of Westchester became a Community Partner of the Empire State Certified Development Corporation (ESCDC), a not-for-profit corporation established by the New York Business Development Corporation (NYBDC) to provide second mortgage financing as a licensee of the US Small Business Association’s 504 Loan Program in New York State. Under this program, participating businesses can borrow up to 90% for fixed asset financing with ESCDC, in partnership with a bank, providing attractive fixed-rate second mortgages.

To qualify, businesses must have a net worth of less than $7 million and net profit of less than $ 2.5, along with a good payment history and promising growth opportunities. The funds must be used for land acquisitions and improvements, building acquisition and/or construction, or machinery and equipment. Funds cannot be used for refinancing debt.

Standard loans are available up to $1.5 million. Public policy loan limits are $ 2 million and include, but are not limited to, businesses that are minority-owned, women-owned, veteran- owned or located in rural economic development areas. Manufacturing loans have a limit of $ 4 million.

For real estate projects, 51% must be owner-occupied for loans on existing buildings. For new construction, up to 40% can be leased with at least 60% owner-occupied. Loan proceeds cannot be used to make specific improvements to rental space.

| Back to Top |

The Business Council of Westchester, Inc. announces a local partnership with NASA to provide technical assistance to businesses faced with technical challenges. The Space Alliance Technology Outreach Program (SATOP) provides up to 40 hours of FREE technical assistance to businesses. SATOP utilizes the vast engineering expertise of NASA and participating Alliance Partners (NASA contractors or Universities).

SATOP is funded by NASA, and is designed to speed the transfer of US Space Program knowledge and technology to the private sector, provide economic benefits to the community, and raise public awareness of the Space Program.

SATOP's engineering specialties include the following: 

Mechanical Engineering: Design, development, modification, implementation or use of mechanical devices, machinery, or tools.

Industrial Engineering: Managing and improving the economical use of people and equipment through application of cost and work standards and enhancement of the working environment.

Materials Engineering: Analysis selection, and utilization of materials including metals, ceramics, polymers, and semiconductor.

Structural Engineering: The application of engineering principles to civil engineering problems, including selection of construction materials for structures.

Chemical Engineering: Design and manufacture of products, processes, and operations involving basic chemical change.

Electrical Engineering: Design, construction, and operation of electrical systems and equipment.

Environmental Engineering: Using technology to reduce or prevent the pollution or degradation of the environment.

The kinds of problems SATOP can address include, but are not limited to: Manufacturing and Assembly; Instrumentation; Machinery; Fiber Optics; Precision Machining; Optical; Production Processes; Image Processing; Robotics and Automation; Electronics; Logistics; Electrical Circuitry; Fluidics Pneumatics and Hydraulic; Facilities Design, Maintenance & Operation; Sensors and Detectors; Power Systems; Controllers and Control Systems; Fuel Cells; Actuators, Regulators, Motion Control; Chemical or Material Selection and Use; Measurement and Testing; Chemical Analysis; Statistical Analysis; Physical Testing of Materials.

Not all problems or situations are suitable for SATOP. SATOP engineers can help you determine whether a specific technology challenge fits the guidelines. The following criteria must be met:

This SATOP program is open to all kinds of companies, including manufacturers and industrial firms as well as small businesses and entrepreneurs.

After contacting the Business Council, you will be visited by a representative of the Council and given assistance in completing a Request for Technical Assistance (RTA). A SATOP Project Engineer contacts you to discuss your request and verify the extent of the technical challenge. The SATOP Project Engineer works to match your RTA with an engineering team that has the necessary expertise. When an RTA is accepted, the Project Engineer will act as a liaison between the company and the Alliance Partner engineers. Most RTA’s will be resolved within 90 days.

ConEdison Solutions, a leading energy services provider, and The Business Council of Westchester now offer commercial and residential members the opportunity to benefit from ConEdison Solutions' fixed electricity plans to control costs on electricity expenditures and to be protected from rising energy supply costs. ConEdison Solutions' customers will be eligible for tax savings by switching to an energy services company (ESCO). In addition, delivery charges for residential and commercial customers that are referred by the Business Council will be discounted.

For more information about ConEdison Solutions call 1 888.210.8899 or go to www.ConEdSolutions.com.

| Back to Top |

EAH provides significant benefits to employers, employees and the communities in which they are located. The aim of the program is to provide an effective employee recruitment tool for companies serving to maintain and retain a top quality workforce; increase investment; and significantly enhance community relations of companies in the county.

Participating employers must provide financial resources or educational services to their employees, which in turn are matched by the county.

For more information, contact Marsha Gordon.

| Back to Top |