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Small Business

State’s $55.5M Small Business Revolving Loan Fund 2 offers microloans

ALBANY — New York State recently announced that its expanded $55.5 million Small Business Revolving Loan Fund 2 is available to provide shorter-term microloans and regular loans to address “inequitable” capital access “by bridging the financing gaps facing new companies, under-banked communities, and small businesses.”  It’s part of New York’s broader Small Business Credit Initiative

Five Star Bank partners with software firm on digital loans

WARSAW — Five Star Bank is now offering digital-loan origination for small businesses through its partnership with Numerated, a Boston, Massachusetts–based software company.  Five Star Bank is the wholly owned community bank subsidiary of Financial Institutions, Inc. (NASDAQ: FISI), which is headquartered in Warsaw in Wyoming County in Western New York and has branches across

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Banker offers small firms’ tips on navigating current economy

Despite the doom and gloom in the headlines, the overall small-business outlook is still fairly positive, says Lindsay Weichert, senior VP and commercial-banking group manager at Community Bank, N.A., a DeWitt–based commercial bank serving customers in upstate New York, northeastern Pennsylvania, Vermont, and Massachusetts. While the Federal Reserve is still working to cool down the

VIEWPOINT: The Importance of Cyber Insurance & Cyber Assurance

Cybersecurity, information assurance, and cyber resilience are essential for any organization. Despite the likelihood of being hacked, companies that implement effective protection techniques and have appropriate insurance coverage can minimize the damage of a cyber attack. Cyber risks present unique challenges to the insurance industry. Business interruption and data-breach litigation insurance were some of the

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