Oct 24, 2016
Small Business Owners Meet Financial Industry Representatives to Learn About Accessing Capital
Empire State Development (ESD) today announced that Access to Capital, a free
conference and resource expo to help people in the food-and-beverage and agricultural
industries access capital and grow their businesses, was a resounding success, with
dozens of Mid-Hudson business owners coming out to learn about how to expand their
companies.
Numerous representatives from the financial industry and federal, state, and local
government agencies gathered at the Henry A. Wallace Center, at the Franklin D.
Roosevelt Presidential Library and Home, to give small business owners an inside
perspective on alternative funding sources, what lenders look for in potential borrowers,
and how to access potential international markets. The resource expo was a
collaboration between ESD, the New York State Department of Agriculture and Markets,
and the Federal Reserve Bank of New York, in partnership with the Hudson Valley
AgriBusiness Development Corporation.
“New York State’s talented entrepreneurs deserve all the support they can get,
especially when it comes to figuring out that next step to make their businesses grow,”
said ESD President, CEO & Commissioner Howard Zemsky. “At Access to Capital,
small-business owners learn about alternate funding sources and ways to expand and
increase their market potential.”
State Agriculture Commissioner Richard A. Ball said, “Access to Capital provides a
unique opportunity to get all the right people in the room together who can help small
businesses in the food, beverage and agricultural industries find solutions to challenges
they may be facing with funding matches and technical assistance. This resource expo
is a great way to connect the dots and ensure our New York companies are getting the
assistance they need to grow and for these industries to continue to thrive.”
“The agricultural industry is essential to the New York State economy, and the New
York Fed is committed to supporting this important sector,” said Anand Marri, Vice
President for Outreach & Education at the New York Fed. “Access to Capital events like
this can help New York food and beverage firms connect with local capital providers,
develop a better understanding about their financing options, learn how to access
international markets, and more. This marks our eleventh Access to Capital program
focused on agricultural enterprises and we look forward to continuing to work with our
partners to improve the livelihoods of farmers and food entrepreneurs across our
region.”
Todd Erling, Executive Director of Hudson Valley AgriBusiness, said, “As the Hudson
Valley’s only economic development agency specifically focused on the viability of the
agricultural economy in our region, we are dedicated to fostering new and growing
agribusinesses. Accessing capital can be one of the key, yet most challenging,
components for new entrepreneurs and those who are seeking to scale up their
businesses. Hosting this event in Hyde park is an excellent opportunity for producers
from the Hudson Valley to participate.”
“Under Governor Cuomo’s leadership ESD does more than ever to help small
businesses and create jobs in the Mid-Hudson Region,” said ESD Mid-Hudson Regional
Director Meghan Taylor. “The Mid-Hudson’s agricultural and food-and-beverage
industries are major sectors of our regional economy, and I am pleased to see such a
great turnout at this important forum.”
Access to Capital was first launched in 2014, with the goal of aiding owners of small
food, beverage, and agriculture businesses, who often have difficulty finding industry
lenders and entering international markets. Realizing that companies need capital and
markets to grow, ESD teamed up with the state Department of Agriculture and Markets
and the Federal Reserve Bank of New York to help business owners connect with
specialized banks, funds, investors, and government programs for their industries.
The first Access to Capital forum, held in Albany in 2014, was such a success that it
was expanded to four events across the state in 2015 and three this year. The previous
two were held in Rochester and Niagara Falls.
About Empire State Development
Empire State Development is New York’s chief economic development agency. The
mission of ESD is to promote a vigorous and growing economy, encourage the creation
of new job and economic opportunities, increase revenues to the State and its
municipalities, and achieve stable and diversified local economies. Through the use of
loans, grants, tax credits, and other forms of financial assistance, ESD strives to
enhance private business investment and growth to spur job creation and support