Penn Yan, NY – Today, Senator Hillary Rodham Clinton was joined by entrepreneurs, education and business leaders from across the county to launch "Access to Business Capital (ABC), a pilot project that will provide critical resources to small and micro businesses in Yates County.

"We are harnessing the energy, the years of experience, the breadth and the reach of all these different organizations for the purpose of giving more small and micro businesses in Yates County – and throughout the Finger Lakes – a chance to succeed. We are trying to make business growth in Yates County – and in the Finger Lakes region – as easy as ABC! That's our goal," Senator Clinton said.

The Finger Lakes Access to Business Capital (ABC) pilot program in Yates County is designed to give small businesses and entrepreneurs often considered "unbankable" the financing and training they need to develop and succeed. In a three-tiered approach, Yates County Capital Access will support startup micro businesses with small loans and technical assistance to get their businesses off the ground; Enable existing businesses to grow by offering them access to an array of federal, state and local government loans, guarantees, incentives and training opportunities; Pave the way for conventional financing through conventional banks and credit unions.

The partnership consists of an esteemed group: Count Me In, a New York City based national women's microlender, and Upstate New York's Rural Opportunities Inc. have teamed up to create a $100,000 loan pool devoted to Finger Lakes Access to Business Capital (ABC) - each agreeing to provide $50,000 in loans to this unprecedented pilot effort.

Keuka College, will be the program's coordinator and will provide record-keeping and technical assistance through its SIFE (Students in Free Enterprise) program. The Yates County IDA will also play a central role in this program at its inception, particularly as a central and well-known business support center for the county.

The Worker Ownership Resource Center (WORC) in Elmira along with the Small Business Development Center at Finger Lakes Community College, will collaborate with this program to help ensure that we get enough Yates clients in and professional technical assistance out to entrepreneurs who need it. WORC, for example, has agreed to run training classes in Yates County.

According to MicrobizNY, Yates County has 1949 microenterprises employing 28% of the county (microenterprises employ 19% of NYS workforce).

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