SEED News

UAlbany Unveils New School of Business Building to Serve as Hub for Innovation and Entrepreneurship ALBANY, N.Y. (August 19, 2013)
The new building will also house the University’s award-winning Small Enterprise Economic Development (SEED) Program, which promotes and fosters small business and microenterprise. To date, the SEED Program has provided more than $1 million in funding and helped create 120 jobs in the Capital Region. The program, a collaboration of SEFCU, UAlbany’s Small Business Development Center (SBDC), Empire State Development (ESD), the School of Business and the University’s School of Social Welfare, was named a 2012 Tribeca Disruptive Innovation Award recipient. Other winners included the Massachusetts Institute of Technology and Stanford University.

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Fighting to transform downtown Albany

Michael DeMasi - Aug 16, 2013, 6:00am EDT
Angelo Maddox has combined hard work and a deep understanding of his customers to find a formula that can work in downtown Albany.
In a city tough on retailers, Maddox owns Fresh & Fly, a store near the Times Union Center that sells merchandise steeped in urban culture.

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How the microloan program saved this business

Barbara Pinckney - Jun 25, 2013, 12:01pm EDT
Mark Bailey, a 50-year-old former minister, is growing his Albany, NY information technology firm because of the Small Enterprise Economic Development program.

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Microloan program passes $1 million in character-based lending

Barbara Pinckney - Jun 20, 2013, 2:12pm EDT
The Small Enterprise Economic Development (SEED) program, which makes character-based microloans to entrepreneurs in the Albany, NY area, has passed the $1 million mark.

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Entrepreneurs scramble for financing as bank credit remains tight

Barbara Pinckney - Sep 14, 2012, 6:00am EDT
When Richard Thayer was laid off from his job selling online advertising, he decided to go into business for himself. Thayer, 48, just needed a small loan to purchase a truck and start his independent bottle and can redemption center.

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Giving Credit Where It’s Due

Larry Rulison, Times Union - January 26, 2012
A new small business lending program at the University at Albany has created a new generation of entrepreneurs in the Capital Region who have $35,000 for their dreams and a great deal of confidence. On Wednesday, UAlbany introduced the first class — 11 people — to complete its new Small Enterprise Economic Development, or SEED, program.Participants such as Patricia Greenwood, who runs a vintage shop in Schenectady called Patricia’s Room, said the program, anchored by a $2.5 million revolving loan fund established by SEFCU, has led to vast improvements.

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In the Summer of 2012, CHSR was awarded a contract to study the Small Enterprise Economic Development (SEED) program.
The SEED program is a “character-based” lending program with the goal of supporting and financing entrepreneurs who have been unable to obtain the resources necessary to start or expand a small business through traditional sources. The program operates as a partnership between Empire State Development, the University at Albany, and the State Employees Federal Credit Union (SEFCU).

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University at Albany, SEFCU, Small Business Development Center, and Empire State Development’s Small Enterprise Economic Development Program Receives 2012 Tribeca Disruptive Innovation Award 

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The Tribeca Film Festival in association with renowned Harvard Business School Professor Clay Christensen and the Disruptor Foundation, is proud to announce the recipients of the third annual Tribeca Disruptive Innovation Awards, hosted by NYU Stern School of Business, on April 27.


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SEED helping local entrepreneurs

by Web Staff 01/25/2012 03:52 PM

Entrepreneurs know to plant many seeds for their business to grow and a local partnership, appropriately named SEED, the Small Enterprise Economic Development, is making that happen right here in the Capital Region.

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SEED Program in Capital Region Earns National Recognition
Small Business Administration (SBA) - 04/09/2012 11:04 AM EDT

The newest entrepreneurial program in the Capital Region is geared towards those aspiring business owners who have more dreams than dollars. SEED, or Small Enterprise Economic Development, is the first public-private collaboration between Empire State Development (ESD), SEFCU, and the University of Albany that offers small business training, mentoring, peer support, and character-based financing.

The SEED program links faculty, staff and graduate students from the University of Albany School of Social Welfare, School of Business and Small Business Development Center (SBDC) with $2.5 million micro-loan fund from SEFCU and $96,700 infrastructure support from ESD.

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SEED Program Provides Business Training and $385K in Microloans to Local Entrepreneurs, Generating 52 New Capital Region Jobs 
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New "Microloan" program aims to fund good ideas banks might overlook

Steve Ference 06/29/2011 06:12 PM
Amid tight credit markets, a new local program is looking to help entrepreneurs obtain loans they need for business ideas that otherwise might not have access to cash. Our Steve Ference reports.

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UAlbany, SEFCU and Empire State Development Launch Program Backed by $2.5 Million Loan Fund Targeted to Small Businesses in the Capital Region
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