NEW YORK — The Federal Reserve Bank of New York recently hosted the New Fundamentals of Accessing Capital forum, to help businesses learn how to successfully apply for a loan. The forum is the latest effort in Bank’s ongoing mission to assist small businesses in the Second Federal Reserve District.
More than 130 attendees, including 25 financial institutions and 35 business counselors, were brought together at the Bank on December 14. The New Fundamentals of Accessing Capital forum let small businesses hear experts address challenges facing business owners and learn about strategies for developing business plans to help them access capital.
Financial representatives also provided small businesses customized guidance and advice on applying for financing. Additionally, an expert panel helped facilitate a discussion of topics ranging from financing to business development.
The forum was designed for small businesses that have been in operation for at least two years, have revenues of up to $5 million, and are in the health and human services, business and professional services, education or manufacturing sectors.
The New York Fed plans to host similar events in 2012 to assist enterprise and economic development in the district.
About Regional & Community Outreach at the Federal Reserve Bank of New York
The Federal Reserve Bank of New York’s regional outreach mission is to promote sustained economic vitality by leveraging the Bank’s strengths to benefit the district. The New York Fed is also active in maintaining connections with the District’s business and community leaders in order to inform Bank policy decisions and build support for sound monetary and regulatory policy.
About the Federal Reserve Bank of New York
The Federal Reserve Bank of New York is one of 12 regional Reserve Banks, which together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Federal Reserve is an independent governmental entity created by Congress in 1913 to serve as the central bank of the United States. The New York Fed oversees the Second Federal Reserve District, which includes New York State, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the U.S. Virgin Islands.