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Lieutenant Governor David Paterson announces program
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Minority and Women Business Enterprises (MWBE) are getting a helping hand from the state thanks to a new initiative. The pilot program was announced by Lieutenant Governor David Paterson at the Lower Manhattan Construction Command Center's September 5th "Opportunity Day" conference.
Open to 30 New York certified minority and women-owned businesses, the program improves access to bonding and training, fostering greater MWBE participation in construction projects state wide.
Each firm will receive training from industry executives, including in-depth technical assistance in management and operational systems, finance and accounting systems, business-plan development, profit and loss analysis, loan packaging, and packaging of bonding applications. Pilot firms also will be referred to a group of attorneys and C.P.A. firms to address legal and accounting issues.
At the end of the program, surety industry executives will recommend appropriate bonding levels and work with surety companies to identify the best fits for each pilot firm's placement. The Small Business Association Bond Guarantee program will be used for all bonds up to $2 million.
To learn more, call (212) 442-3780.
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