Statewide Zone Capital Corporation (SZCC) Loan Fund

The SZCC offers certified businesses a revolving loan fund that can help provide financing for working capital, equipment, and real estate financing. The SZCC partners with a bank to supplement conventional bank financing. Please refer to SZCC for current interest rates and guidelines.

A certified business must apply to the Empire Zone Administrative Board for authorization for a SZCC loan. The board has established loan guidelines, which give priority to the creation and retention of jobs, with emphasis on highly skilled jobs and jobs for zone residents, need, and value added.

If the Zone Board authorizes the loan submission, the application is submitted to the New York Business Development Corporation, administrators of the SZCC. The business must provide a credit application to the SZCC and the participating lender. NYBDC's Regional Loan Committee reviews creditworthiness. If approval is recommended, the loan is then submitted to the SZCC Investment Committee for action.