Guthrie Clinic joins campaign to protect health-care workers from violence

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CORTLAND, N.Y. — The Guthrie Clinic on Wednesday said it has joined the Respect and Heal campaign, an effort that seeks to protect health-care workers

AFT, RIT to use federal awards for semiconductor-workforce training initiatives

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Two New York–based programs will use federal funding of more than $3.2 million to prepare New York high school and college students for careers in

State launches $10 million loan fund for entrepreneurs

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ALBANY, N.Y. — New York State has launched a new $10 million fund that will provide qualifying startup and early-stage companies with access to affordable term loans up to $100,000. The Main Street Capital program is part of New York’s broader State Small Business Credit Initiative efforts led by Empire State Development, the office of

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ALBANY, N.Y. — New York State has launched a new $10 million fund that will provide qualifying startup and early-stage companies with access to affordable term loans up to $100,000.

The Main Street Capital program is part of New York’s broader State Small Business Credit Initiative efforts led by Empire State Development, the office of Gov. Kathy Hochul said. The program will “help bridge the financing gap experienced by many entrepreneurs” as they launch and grow their businesses.

It offers minimal payments for the first 12 months of the loan to give businesses “more flexibility” as they launch and grow. Loans will be up to six years with a fixed interest rate of 9.9 percent. In the first year, borrowers will pay less-than-interest-only, with no principal payments during that time.

“The Main Street Capital Program will boost and strengthen our small businesses, especially our minority and women entrepreneurs, creating jobs and investment in New York State,” Hochul said in the announcement.

This $10 million fund is a partnership between Empire State Development and Albany–based Pursuit, a community lender with a 70-year history serving businesses in all stages in New York State and beyond.

Pursuit is a firm with several New York locations, including a local loan officer and virtual office serving Syracuse.

“The Main Street Capital Program is a valuable resource for New York entrepreneurs, offering affordable-rate loans of up to $100,000,” New York State Assemblymember Albert Stirpe, Jr. (D–Cicero) said in the Hochul announcement. “The loan fund provides a more accessible financing option, particularly for socially and economically disadvantaged individual-owned businesses, as well as very small businesses with fewer than 10 employees. New York’s State Small Business Credit Initiative, led by Empire State Development, will help bridge the financing gap, empowering entrepreneurs to turn their dreams into reality and grow their businesses.”

Startups and early-stage businesses must complete a pre-application questionnaire. Based on their responses, they will be invited to complete a full application for the program, or they may be connected with their local Entrepreneurial Assistance Center (EAC) or Small Business Development Center (SBDC) for additional support, Hochul’s office said.

For more information on the fund, eligibility, and requirements, those interested can visit the program’s webpage.

Broome County saw robust tourism growth in 2023

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BINGHAMTON, N.Y. — Broome County generated strong tourism growth in 2023, reaching record levels of visitor spending and economic impact, according to Visit Binghamton. The

NYSDOT to host open house on I-81 project’s fourth contract targeting community grid, east side

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SYRACUSE, N.Y. — The New York State Department of Transportation (NYSDOT) will host an open house on Thursday, Sept. 26 from 6-8 p.m., discussing the

Rochester credit union to acquire Generations Bank of Seneca Falls

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SENECA FALLS, N.Y. — ESL Federal Credit Union, of Rochester, will acquire Seneca Falls–based Generations Bank in a deal valued at $26.2 million, ESL announced. The acquisition expands ESL’s presence in the Greater Rochester and Finger Lakes region in Seneca, Cayuga, and Orleans counties while expanding its footprint into Ontario County. The combined financial institution

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SENECA FALLS, N.Y. — ESL Federal Credit Union, of Rochester, will acquire Seneca Falls–based Generations Bank in a deal valued at $26.2 million, ESL announced.

The acquisition expands ESL’s presence in the Greater Rochester and Finger Lakes region in Seneca, Cayuga, and Orleans counties while expanding its footprint into Ontario County. The combined financial institution will have assets of $9.6 billion and more than 30 branches.

The boards of both financial institutions unanimously approved the deal, which ESL expects to close late in the second quarter or third quarter in 2025.

At that point, Generations Bank will liquidate and its parent company, Generations Bancorp, will distribute its assets to its shareholders, most likely in two separate payments of between an estimated $18 and $20 per share. Currently, Generations has nearly 2.3 million outstanding shares of common stock. Generations Bank has branches in Seneca Falls, Auburn, Union Springs, Waterloo, Geneva, Phelps, Farmington, and Medina.

“We are very excited about our new partnership with ESL Federal Credit Union,” Generations Bank President/CEO Angela Krezmer said in a statement. “The synergy created by combining these two companies coupled with the financial strength of the combined institution will assure that our customers, our employees, and our communities have expanded financial services and membership benefits going forward. We also believe it reflects our commitment to enhance the value to shareholders.”

ESL Federal Credit Union serves more than 429,000 members and 16, 800 businesses. Founded in 1920, ESL has 24 branches, employs 950 people, and has more than $9.2 billion in assets.

“This deal is a strong fit for ESL and Generations because both organizations are committed and dedicated to serving their employees, customers, and their communities,” ESL President/CEO Faheem Masood said in a statement. “We look forward to our future as a stronger, growing financial institution and bringing the superior experiences we are known for to employees and customers in new communities.”

Performance Trust Capital Partners served as financial advisor to ESL and Harter Secrest & Emergy LLP and Honigman LLP was its legal counsel. Keefe, Bruyette & Woods served as financial advisor to Generations with Luse Gorman, PC providing legal counsel.

SBA Syracuse-Upstate district office seeks nominations for 2025 Small Business Week Awards

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SYRACUSE, N.Y. — The Syracuse-Upstate New York district office of the U.S. Small Business Administration (SBA) is seeking nominations for the 2025 national and district