New York Small Business Development Centers (SBDC) had to help small business owners with a new challenge this year — reimagining their business model and rebuilding in the face of an economic crisis caused by a global pandemic. For 35 years, the SBDC has focused exclusively on small business assistance. That mission has become even more critical this year as thousands of businesses were forced to close during the New York Pause. The SBDC’s network of experienced and knowledgeable business professionals, located in service centers that reach into every neighborhood in New York State, played a more significant role than
ever. They helped small business owners invest more than $511 million in their businesses and impacted
more than 25,000 jobs. They helped thousands of businesses stay in business that might otherwise have gone under.
The success stories in our 2020 Annual report demonstrate how the COVID pandemic impacted small businesses in New York and how the NYSBDC came to the
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Binghamton, NY – State University of New York Chancellor Jim Malatras announced today that the New York Small Business Development Center (New York SBDC)—the state's premier business assistance organization administered by SUNY and funded by the U.S. Small Business Administration—has helped nearly 3,000 COVID-19-impacted small business owners secure more than $560 million in aid over the last 14 months. That funding includes more than $265 million in Paycheck Protection Program (PPP) loans, nearly $125 million in COVID-19 Economic Injury Disaster (EIDL) loans, as well as other local, state, and federal grants.
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Chancellor Malatras and New York State Small Business Development Center (SBDC) Interim Director Tammy Morrow Joint Statement on Ward Lumber Transitioning Ownership to Employees with Help of SUNY Canton SBDC.
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With assistance from the SUNY Canton Small Business Development Center (SBDC), the employees of Ward Lumber have made history by purchasing the 130-year-old business as a worker-owned cooperative. The transaction marks the first employee ownership transition of its kind in the North Country region of New York State.
The lumber products and hardware store, which has locations in Jay and Malone, NY, and employs 52 local people, has been in Jay Ward’s family for four generations. Ward, who will continue his leadership role as the company’s chief executive officer, completed a contract with his employee team, making Ward Lumber the largest worker-owned cooperative in the region.
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