The Enterprise Center at PathStone has received $300,000 in loan funds from the U.S. Small Business Administration (SBA) under the Microloan Program. This funding will allow The Enterprise Center at PathStone to expand its support for small businesses by increasing access to microloans and providing critical resources for entrepreneurs in underserved communities in Upstate New York and Puerto Rico.
“This investment from the SBA enhances our ability to provide small businesses with the capital they need to thrive,” said Javier Zapata, Executive Director of The Enterprise Center at PathStone. “At a time when entrepreneurs are seeking financial stability and growth opportunities, we remain committed to bridging the gap in access to funding for emerging businesses.”
The SBA Microloan Program provides funds to designated intermediary lenders, like The Enterprise Center at PathStone, to support small business owners who may face challenges in securing traditional financing. These funds will be used to issue microloans to eligible small businesses, empowering them to grow, create jobs and strengthen the local economy.
“SBA’s Microloan Program delivers essential financing to entrepreneurs and small business owners,” said Victoria Reynolds, District Director of SBA’s Buffalo District Office. “While the dollar amount of these loans may be considered micro, the impact they have on real people and real businesses is enormous. We are delighted to continue our 17 year partnership with the Pathstone Enterprise Center – one of our community’s most impactful microlenders – to expand access to capital under SBA’s Microloan Program.”
With this new funding, PathStone Enterprise Center will continue its mission of fostering economic opportunity by providing flexible financing solutions and technical assistance to small business owners.
For more information about The Enterprise Center at PathStone’s loan programs and business support services, visit www.theenterprisecenterinc.org.
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