HIGHLIGHTS

During Fiscal Years 2000 and 2001, Brooklyn Economic Development Corporation (BEDC) sought to redefine its role in the Brooklyn community and shape the organi-zation as one that provided a wide range of resources and technical assistance to small community-based nonprofits as well as enhanced training and loan programs for small businesses. As part of this strategy, we added new services and expanded the core services offered by BEDC and its related programs.

The following are highlights of our new initiatives:

• Created and staffed the Community Economic Development Council (CEDC), that provides a forum in which community organizations in Brooklyn can share strategies that will help improve
  their neighborhoods. The Council, which is funded by grant from the U.S. Commerce Department Economic Development Administration, holds quarterly meetings that attract about 40 representatives from local development corporations, business improvement districts, community improvement groups, neighborhood and block associations, training organi-zations, and community boards;
  
• Created the Community Credit Institute to provide training to community development organizations
  on making loans, analyzing loans, and managing a loan portfolio. As part of this initiative, we began offering one-on-one counseling and held A Lending Overview, a two-day workshop on lending
  for staff members of economic and community development organizations;
  
• Presented a Borough President Candidates’ Forum for members of the Community Economic
  Development Council so that the candidates could discuss their vision for economic development
  in Brooklyn;
  
• Presented a one-day economic development conference, Brooklyn Neighborhoods: Big City
  Commerce, that 300 people attended. The event brought together panels of experts who have implemented innovative neighborhood development and education and training strategies;
  
• Established a linkage with the Trickle Up Program, which offers Trickle Up program grants.
  The grants cap at $700 and provide seed capital to economically disadvantaged entrepreneurs to enable them to start or expand their own micro enterprises;
  
• Created the small loan/equity program that combines Trickle Up grants and matching funds from
  New York State’s Empire State Development Corporation to provide up to $1,400 in equity for low income-eligible borrowers;
  

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• Created a revolving line of credit of up to $10,000 for existing businesses to be used to purchase
  inventory or equipment or for working capital;
  
• Presented new entrepreneur workshops, including So You Want to Open a Restaurant for entrepre-neurs
  who dream of owning and operating their own restaurant, and The Business Plan, which
  offered tips on creating an effective business plan;
  
• Opened the Brooklyn Entrepreneur Support and Training (BEST) Center, which offers small business
  owners the use of computers with the latest software for accounting, spreadsheet analysis,
  business plan preparation, and word processing, and minority contractors access to a variety of
  construction plans;
  
• Participated in the Pocantico Hills Roundtable on brownfields as a member of a statewide delegation
  made up of nonprofit organizations, environmental organizations, and local governments whose
  goal it was to revise the New York State law governing the cleanup of environmentally contaminated
  sites. After a series of working sessions, the roundtable’s efforts resulted in pending legislation;
  
• Served as the sponsor and fiscal conduit for $800,000 in state and federal funding for the establishment of Great Harbor Design Center, a manufacturing company located at the Brooklyn Navy Yard that incorporates recycled glass and concrete to create environmentally friendly “green” products;
  
• Made our facilities available to outside groups by allowing nonprofits to use the BEDC conference
  room at no charge;
  
• Named Domenic Abbatiello, director of Economic Development for KeySpan Energy, and Charles
  F. Koehler, president and CEO of Community Capital Bank, to the BEDC board of directors; and,
  
• Worked to enhance the profile of BEDC by publishing four newsletters that reached an audience of
  10,000 small businesses and informed the public about our services through increased media contacts.
  
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ACCOMPLISHMENTS

In addition to the new efforts, during Fiscal Years 2000 and 2001 we built on the
success of our established programs in the following ways:

• Closed on nine Regional Economic Development Assistance Corporation (REDAC) loans totaling
  $307,000 for small businesses, five owned by women and five owned by members of minority groups. The loans resulted in the creation of 60 jobs and leveraged $295,000 in additional private investment;
  
• Simplified the REDAC application, reducing it from 12 pages to one page with two sides;
  
• Welcomed three new banks as participants in the REDAC program, Deutsche Bank, J.P. Morgan,
  and Sterling National Bank;
  
• Celebrated the seventh and eighth consecutive years of offering the Entrepreneur Training
  Program. The 14-week, 60-hour course was held during the fall and spring semesters and trained
  more than 100 current or potential entrepreneurs;
  
• Offered one-on-one technical assistance to nearly 200 individuals so that they could start businesses
  or improve the quality of their current businesses;
  
• Held a number of outreach events through the Minority Business Outreach Center, including certifi-cation
  workshops, and connected minority contractors with construction projects such as the Federal Court House in downtown Brooklyn, and established an alliance with the Dormitory Authority; and,
  
• Provided training to nearly 350 students who learned about opportunities in health care by interning
  at eight hospitals (seven in Brooklyn and one in Queens) through our Health Careers Internship
  Program, which we coordinated as part of the Summer Youth Employment Program.
  At BEDC we look forward to continuing to offer quality services to entrepreneurs and nonprofits in
  the future and identifying new ways in which we can assist with economic development in Brooklyn.
  
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CASE HISTORIES

Technical Assistance–
LINKS to COMMUNITY RESOURCES

Caylin Sanders was an entrepreneur with a vision but few resources until she discovered the services offered by BEDC. After tapping into the organization’s community connections, how-ever, she was able to launch her new business.

In early 2000, after spending three months researching the concept and developing a busi-ness plan for her Web site, EscapeMaker.com, Ms. Sanders read a small notice in the newspa-per that BEDC was offering an Entrepreneur Training Program and that the deadline for registration was that day. She called immediately and was told that there was only one slot left in the class. She grabbed it.

“I needed access to community resources like funding, real estate, insurance, accounting, and the mechanics of starting up a business,” Ms. Sanders said, recalling why she was eager to get into the class.

While taking the entrepreneur class she lis-tened to a presentation on lending by an officer from Community Capital Bank. After learning how much equity she had invested in her busi-ness (30 percent equity invested in her business plus a small grant from the Office of Vocational and Educational Services for Individuals with Disabilities), he invited her to come by the bank and submit a loan application. Her loan was approved and Ms. Sanders received funding to market the Web site and cover the operating expenses for her start-up on 5th Avenue in Park Slope, Brooklyn.

Ms. Sanders describes EscapeMaker.com as New York City’s Internet Guide to Local Getaways and said the site focuses on travel destinations within 200 miles of the city that are accessible both by car and public transportation. EscapeMaker.com launched in September 2000, with 25 travel destinations and plans to add new locales every month.

A California native who graduated from Drew University in 1995, Ms. Sanders said she started the Web site because of her own frustra-tion taking trips outside of New York City using public transportation.

Ms. Sanders visits each destination and provides up-to-date information on local get-aways, travel alerts on last-minute specials, and suggests trips that match the specified interests of travelers. She networks with local Chambers of Commerce, provides information about local communities, and lists local events. The site is sensitive to the needs of travelers using public transportation, listing timesaving travel tips and links to transit schedules.

EscapeMaker.com functions like a maga-zine on the Web. Ms. Sanders said she shows advertisers the circulation numbers and they pay a flat rate for ad space. Before starting the site, she interviewed 50 bed and breakfast owners via e-mail asking them what they would like to see on a site and how much they spend on advertising.

“We want to be the clearinghouse for every-thing there is to do outside of New York City,” she said, adding that she found bed and break-fasts don’t have the marketing budgets to adver-tise in New York City magazines and often opt for listings on the Internet. “Advertisers will come to us knowing we have this market.”

BEDC SMALL BUSINESS FINANCING
BEDC assists clients by working with them to analyze their capacity to carry debt,identify suitable financing sources,assist with application procedures and act as a financing advocate,and secure appropriate incentive programs (tax abatements,energy rate discounts,job tax credits).
BEDC can assist with real estate purchases,acquisition of machinery,equipment and working capital,and the establishment of lines of credit.BEDC has strong ties to New York ’s banks and lending institutions and is recognized by those institutions as a trusted referral source.

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Technical Assistance
ENTREPRENEUR TRAINING

SERENE CUISINE PERSONAL CHEF SERV I CE

Most people starting a business think they have to do it on their own but that’s not the case if they participate in BEDC’s training programs, which offer insight, resources, and support for entrepreneurs starting their own businesses, observed Maggie Guardino, a grad-uate of BEDC’s Entrepreneur Training Program.

Ms. Guardino, founder of Serene Cuisine Personal Chef Service, which provides grocery shopping, meals prepared in the home, and menu planning, said she first learned about BEDC’s Entrepreneur Training Program after her mother saw a small article announcing it in the local paper. Ms. Guardino, who was thinking about starting her own business, called BEDC the next day and enrolled in the class.

“I was in the process of beginning to write my business plan and find out about financial packages, and marketing,” she said. “Sitting in that class at BEDC added to what I had collected and made everything much simpler.”

She also appreciated the support she received from her classmates in the course. “Everyone was interested in the concept and willing to give me ideas for marketing the business,” Ms.Guardino recalled. “That built my confidence up. I realized I wasn’t alone. There are a lot of individuals out there who are trying to make their dreams come true. I looked forward to (going to class) every Tuesday night.
I definitely would recommend it to anyone who is going into business.”

Ms. Guardino said she plans to add corpo-rate catering to her list of services and, there-fore, found particularly valuable a presentation by the staff of BEDC’s Minority Business Opportunity Center highlighting how women and minorities can take advantage of the gov-ernment procurement process. During that pres-entation she received contact names and instructions on how to apply for the programs.

Ms. Guardino describes Serene Cuisine as a chef service that makes house calls. First, she interviews her clients about the foods they like and gets approval for a menu. The client receives a new menu each week that is approved prior to Ms. Guardino coming into the home and preparing the food. Each week she prepares five different entrées that she freezes, so all the client has to do is reheat them. All foods are healthy and are prepared without preservatives.

The business is built around people who don’t have time to prepare dinner and are always eating out.
“The average person eats the same entrée four to five times a month,” she said. “I can guarantee you won’t see the same entrée for six months.”

The corporate catering side Serene Cuisine is developing offers catered lunches for board meetings or other events, and the service can provide waiters, waitresses, and bartenders.

Before starting her business, Ms. Guardino was a supervisor on the floor of the New York Commodities Exchange, where she had worked for 18 years. She decided that her first love was cooking and left the Exchange and worked at several restaurants before becoming a partner
in one. She then returned to Wall Street for several years before starting Serene Cuisine in January 2000.

Ms. Guardino is a graduate of the New York Food and Hotel Management School and a member of the United States Personal Chef Association.

BEDC ENTREPRENEURIAL TRAINING PROGRAM
Since 1992 ,BEDC has been providing technical support,classroom training,and workshops to
entrepreneurs and those seeking to improve their businesses.
Through its Entrepreneurial Training Program,BEDC combines intensive 14 -week classroom training for 35 students a semester with one-to-one consultation to help students complete an effective business plan.Program graduates may become eligible for business financing.
Typical topics in BEDC ’s Entrepreneurial Training Program include identification of markets and customers;marketing strategies;identification of business cycles and production schedules;
financial statements and projections;cash management;real estate and location issues;and insurance and license requirements.In addition,BEDC also offers targeted workshops on such topics as marketing,
financial management,and credit access.

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Brooklyn Entrepreneur
SUPPORT and TRAINING CENTER

When Rhoda Plotkin began looking for a loan to expand her business, she turned to BEDC and its Regional Economic Development Assistance Corp.(REDAC) loan program for help.

For two and a half years, Ms. Plotkin, had been importing an herb called buckwheat from the Ukraine and selling it successfully in pack-ages under the label LifeField Buckwheat Groats. She wanted to branch out, however, and begin selling LifeField Buckwheat Pancake & Waffle Mix and other products. But to do that, she would need additional financing.

While she understood how to create a busi-ness plan, the technical assistance she received from the REDAC staff resulted in a much more sophisticated financial plan complete with cash flow information and balance sheets that identi-fied her income, expenses, and projected profits. Such technical assistance is available to all those applying for REDAC loans and is designed to help clients prepare loan applica-tions
and business plans that contain the infor-mation the loan committee needs to make informed decisions.

The REDAC staff worked with Ms. Plotkin once or twice a week for several months using the software and computers in the Brooklyn Entrepreneur Support and Training (BEST) Center and helped her produce a spreadsheet with 25 different columns to itemize such costs as trucking, processing, and packaging. Through this analysis, Ms. Plotkin found out to the penny exactly how much it cost to produce
her product. As a result, she was able to determine exactly how much to charge, how much to pay vendors, and how much she needed to make a decent profit.

Ms. Plotkin is quick to highlight the virtues of buckwheat, which looks like rice and can be prepared by heating it in boiling water. It’s low in calories, virtually fat free, is loaded with Vitamin B, and contains rutin,
which reduces cholesterol and lowers blood pressure naturally, she said. It can be used as an alternative to rice or potatoes and Ms. Plotkin has produced a booklet of recipes illustrating how it can be prepared
and served with roast duck, chicken breasts, and other meals.

Brooklyn companies do all processing, packaging, and distribution, and the product is sold in upscale gourmet or health food stores such as Zabar’s, Sahadi, and Back to the Land in Manhattan, Brooklyn, Queens, New Jersey, Westchester, Pennsylvania, and Baltimore. Some stores repackage the buckwheat and sell it under their own labels, while others sell it under the LifeField label. To produce the pancake and
waffle mix, the buckwheat is ground into flour.

Ms. Plotkin, who has an advanced degree in Political Science and taught the subject at local colleges, founded a public relations firm, R. Plotkin Associates, Inc. several years ago. She seized the opportunity to package and distribute the buckwheat when her business was approached about promoting it.

BEST CENTER
In June 2000 ,BEDC opened the Brooklyn Entrepreneur Support and Training Center (the BEST Center),a full-service,one-stop entrepreneurial training and information resource center that is available by appointment from 9 a.m.to 5 p.m.every day,except Wednesdays when the center is open until 9 p.m.
The center is located in BEDC ’s offices.
At the BEST Center,clients can access the Internet and software programs using the computers in the center.The software available includes a program that helps users write business plans,accounting
software needed to run a business, and standard spreadsheet and word processing software.
A resource library in the BEST Center offers the demographic information that clients need to draft marketing plans and books on general business development and related topics also are on
hand for research.
In addition,plans for major construction projects taking place throughout New York City are on file at the BEST Center and available to contractors wishing to examine them and bid on selected parts of the jobs.Individuals with an expertise in doing business in Brooklyn and New York City are staffing the BEST Center.

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Connecting BROOKLYN COMMUNITIES

Traditionally community groups in Brooklyn have operated in separate worlds, but that changed when BEDC created the Community Economic Development Council (CEDC). Now CEDC meetings are providing a valuable service to community groups by enabling representatives to share “best practices” that can be applied to other neighborhoods, according to Evangeline Porter, president of a local community
organization.

“I think the more people get together the better the city will be,” said Ms. Porter, presi-dent of the Crow Hill Community Association, Inc., in Crown Heights, who attends the quar-terly CEDC meetings.

Ms. Porter and her organization benefited from participating in the CEDC after meeting
Darryl Hollon, economic development specialist from Con Edison, and applying and receiving a
$1,500 grant from Con Edison to upgrade the facades of several storefronts on Franklin Avenue.

Ms. Porter continued, the CEDC meetings “give you ideas of what you can do. We find it is helpful to try to do some of the things they (other community groups) are doing to enhance what we’re doing.”

Ms. Porter observed that although all the com-munity groups attending the meetings are from Brooklyn, each area has its own unique problems. Some groups need trees, graffiti removal, resur-facing,
or lighting. “We need it all,” she said, adding that ridding Franklin Ave. of drugs is a particular concern of the Crow Hill Association.

At a recent CEDC meeting, Ms. Porter report-ed on the progress her organization is making redeveloping Franklin Ave. with new gates, new awnings, security, and new lighting. In addition to a grant from Con Edison, the association has received grants from the Department of Business Services, KeySpan Energy, and Assemblyman Roger Green, which it is using to invest in improvements along the commercial strip.

The association’s target area is in Crown Heights—Eastern Parkway to Sterling Place and Bedford to Franklin. However, the grant from Assemblyman Green will extend its tar-geted improvements along Franklin Ave from Eastern Parkway to Atlantic Ave.

For 10 years, Ms. Porter and her colleagues have been working to improve their neighbor-hood by seeking pipe replacement, tree plant-ing, mail boxes, ATMs, bus shelters, and soon to come, assisted housing for the elderly on the grounds of a former monastery run by the Catholic Church.

COMMUNITY ECONOMICDEVELOPMENT COUNCIL(CEDC)
The CEDC was created in early 2000 by BEDC to encourage collaborative relationships among
community-based organizations that are engaged in economic development activities and to serve as a means of sharing and disseminating information.
More than 250 Brooklyn organizations —local development corporations,business improvement districts,community improvement groups,neighborhood and block associations,training organizations,
and community boards —have been invited to participate in the CEDC.
General meetings of the CEDC are scheduled at least four times a year and members are given
the opportunity to make presentations on effective programs they are offering in theircommunities.
Four committees have been formed including the Legislative Committee,Resource Development Committee, Education &Training Committee, and Infrastructure Improvement Committee.The committees are scheduled to meet at least six times a year.
The CEDC is made possible by funding from the U.S.Commerce Department Economic Development Administration and the New York City Department of Business Services.

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Trickle Up - ENTERPRISE GRANT

KIMBERLY HUNTINGTO N ,ARTIST

Kimberly Huntington, like many other aspiring artists, came to New York City from Boston to pursue a career as a painter and muralist. Ms. Huntington paints large canvasses and murals that are installed in
residences and public spaces. She settled in Willliamsburg, Brooklyn, which has attracted emerging artists because of the availability of large living spaces.

Working in New York is tough for any aspiring artist, but Ms. Huntington found it difficult to attract clients
because her portfolio lacked the necessary panache. To market her work, Ms.Huntington must present her portfolio to architects and designers in order to have her artwork considered for installation in their developments. Her portfolio was amateurish and the pictures were too small and did not adequately
depict the beauty of her artwork. While Ms. Huntington was not proud of her portfolio, she could not afford the expensive photography and materials to redesign and make a new one.

Luckily, a friend suggested that she visit Congresswoman Nydia Velazquez’s office to find out about programs available for small businesses. Staff members at the Congress-woman’s office referred her to BEDC. Ms. Huntington went downtown to the BEDC office and after several discussions it was determined that she should apply for a Trickle Up Micro Enterprise Grant. Ms.

Huntington said, “The BEDC staff was ex-tremely helpful and encour-aging.” Staff at BEDC helped
Ms. Huntington plan and prepare her application and she was successful in receiving a grant to jump-start her business. Now when meeting with architects and designers, Ms. Huntington proudly presents her brand new port-folio with large professional 9x10 photographs that display her artwork beautifully. With her professional presentation, Ms. Huntington is much more confident and believes that her artwork has
a better chance at being considered for an installation.

TRICKLE UP PROGRAM
Trickle Up Program grants total $700 and provide seed capital to economically disadvantaged people so that they can start or expand their own small businesses. The staff of BEDC,which is one of the coordinating agencies for the Trickle Up Program,selects entrepreneurs after reviewing and approving their business plans. Initially,recipients received checks of $500 as conditional seed capital.Three months after
receiving the initial checks, recipients submit business reports to Trickle Up and,if the reports are approved,each are issued the final $200 installment of the grants.In a year,the entrepreneurs are asked to complete a follow-up questionnaire on the status of their respective businesses.

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Small Business LENDING

HONEYDEW DROP AYCARE

Ask Fabiola Santos-Gaerlan, director of HoneyDew Drop Daycare, the secret to her success and she’ll reply, excellent customer serv-ice, hiring and training a good staff, maintaining high standards, and offering a solid curriculum. Ms. Santos-Gaerlan’s methods have been rewarded because in less than two years she’s been able to pay off the REDAC loan that got her started and is now thinking about opening a second location.

Operating her business out of the first floor of her home in Park Slope, Brooklyn, HoneyDew Drop provides childcare for 16 families, 10 children at a time ranging in age from 10 months to 3 years.
She supervises two full-time and five part-time employees.

Ms. Santos-Gaerlan praised the assistance she received from REDAC to start her business adding that the REDAC staff gave her superb technical assistance and quickly got her a loan, which she used to improve
the property and buy sup-plies for the center. In fact, REDAC was the first place she called when she began exploring expanding the business.

She said her center, which opened in October 1999, is succeeding because it is responding to the new economy. HoneyDew Drop fills a niche because many of the parents who send their children to the center don’t have 9 to 5 jobs, but work from home.

“Flexible childcare is our specialty,” said Ms. Santos-Gaerlan, who traded her job as a television producer and director for children’s shows in Manhattan for life as a Brooklyn entre-preneur. “A lot of the parents operate small busi-nesses, they are writers or graphic designers. They want to spend time with their children, but two or three days a week their children come here.”

In fact, she’s found that flexibility is one of the perks of running the business out of her own home because she’s able to keep a close eye on her own children who are 6 and 9 years old.

Yet her success hasn’t prompted her to slow down. Instead, Ms. Santos-Gaerlan is always looking for ways to improve her business. She has started “Mommy and Me” and “Daddy and Me” classes for parents and infants and “Baby Massage” classes. The new programs serve a need in the community, but are also clever marketing techniques designed to expose parents to her center so that when their children are ready for day-care, they will think of HoneyDew Drop Daycare.

Ms. Santos-Gaerlan, who is originally from the Philippines and moved to New York City when she was 15 years old, admits that the first year of running her own business was chaos. The second year, she learned to deal with the chaos. And, the third year? “I’m doing fine,” she smiled.

“It’s very rewarding,” she said of owning her own business. “I’m never tired. I’m working for myself. I’m able to spend time with the children and give the families personal attention. The parents feel they are part of a community.”


REDAC LOANS
RE AC (Regional Economic Development Assistance Corporation)is a not-for-profit loan program that offers loans of $5,000 to $50,000 to New York City for-profit businesses with sales under $2 million.
The RE AC mini-loan program was created in 1991 by BE C and is one of the oldest nontraditional loan programs in New York City.Since it was created,RE AC has approved $2.1 million in loans to small businesses located throughout the five boroughs of New York City.The average loan has been for $22,000 and the number of jobs created and retained citywide is 254 . Borrowers have received financing for equipment and machinery acquisition,real estate purchases, leasehold improvements,and working capital.

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MBOC - MINORITY BUSINESS OPPORTUNITY COMMITTEE

Since 1992, Brooklyn-based ArmrestSecurity Patrol, Inc. has relied on BEDC and its Minority Business Opportunity Committee (MBOC) program for assistance with procure-ment opportunities and technical assistance.

The relationship has been a beneficial one. Today Armrest Security Patrol, which provides hands-on service in the areas of facility man-agement, security, cleaning, and fire safety, has grown to become one of New York City’s largest minority and women owned businesses.

“MBOC is a valuable resource to my busi-ness and I am grateful to the staff for its profes-sionalism and for its commitment to the development of minority and women businesses,” said Jean Kristensen, President and CEO, who has been with Armrest Security since her father started it in 1982.

For example, MBOC’s extensive programs, including workshops, conferences, one-on-one consultations, and technical assistance, were helpful several years ago when Armrest Security created a strategic plan to secure business in the private sector, receive long-term financing, and develop partnerships with other
successful firms.

With assistance from the MBOC staff, Ms.Kristensen said Armrest obtained major con-tracts including the Brooklyn Court House; forged partnerships with construction firms in the city; created an excellent network of busi-ness professionals and industries, and expanded its resources in the supplier development arena with agencies such as the New York State Dormitory Authority.

MBOC also helped Armrest Security iden-tify resources to supply good employees. The firm now employs 500 people of diverse backgrounds primarily from Brooklyn commu-nities and recruits from various organizations in the community including Good Help, Kings-borough Community College and the Welfare-to Work Program. All of its employees enjoy the benefits of ongoing training and opportuni-ties
for growth and advancement.

Due to its significant expansion in recent years, Armrest Security is no longer classified under government standards as a small busi-ness. Nevertheless, it continues to rely on MBOC and its staff. On occasion when faced with a difficult situation, for instance getting paid by a government agency, MBOC has been helpful with connecting Armrest with the appropriate office to resolve such issues.

MINORITY BUSINESS OPPORTUNITY COMMITTEE (MBOC)
The Brooklyn/Queens MBOC,a joint venture with Queens County OEDC is a program which provides
minority business owners with enhanced access to the marketplace by identifying marketing and sales opportunities,financing resources,potential joint venture partners and otherwise assisting minority firms to position themselves for long-term growth. MBOC strives to promote the full inclusion of the minority business sector in the overall economy. MBOC is funded under a grant from the U.S.Department of Commerce,Minority Business Development Administration(MBDA).

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BEDC WISHES TO EXTEND SPECIAL THANKS TO OUR MAJOR FUNDERS:

BEDC
Con Edison
Empire State Development Corporation
J.P. Morgan Chase
KeySpan Energy
New York City Board of Education
New York City Department of Business Services
U.S. Commerce Department Economic
Development Administration
U.S. Commerce Department Minority
Business Development Administration
U.S. Small Business Administration,
Microloan Program

REDAC
BPD International Bank
Deutsche Bank, A.G.
EAB (Citibank, N.A.)
Fleet Bank
HSBC Bank USA
J.P. Morgan Chase
M&T Bank
Mizuho Corporate Bank, Ltd. (formerly the Fuji Bank, Ltd.)
Sterling National Bank
U.S. Trust Company of New York
Valley National Bank

BOARD OF IRECTORS
Mark O’Luck, Chairman (Spectrum Personal Communications)
Stuart P. Leffler, Secretary (Consolidated Edison)
Christine Wimpenny, Treasurer (Citigroup)
Domenic R. Abbatiello (KeySpan Energy)
(Ray) Guey N. Chin (China Associates Inc.)
Roy Hastick Sr. (CACCI)
Charles Koehler (Community Capital Bank)
Dominick Massa (Harborside Management)
Lance Myers (Holland & Knight, LLP)
Alison Tocci (Time Out New York Magazine)
Horace D. Williams (Pratt Institute)
Robert Hebron (Ingram & Hebron Realty)

SENIOR STAFF
Joan G. Bartolomeo President
Richard Suarez Vice President

PROGRAM STAFF
Gloria Benjamin Director, REDAC, Finance, and Technical Assistance
George Hirschfeld Coordinator of Financing
Margaret Nelson Real Estate Coordinator
Michael Sharp Director, Real Estate,
General Assistance, and Entrepreneur Training
James Sanford Director of Community Development Minority Business Procurement

ADMINISTRATIVE STAFF
Yvonne King Program Assistant
Keiko McAssey Webmaster
Stanley Robbins Bookkeeper
Nina Sampayo Receptionist

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Brooklyn Economic Development Corporation
175 Remsen Street,Suite 350,Brooklyn NY 11201
Phone (718)522-4600
Fax (718)797-9266
e-mail info@bedc.org
www.bedc.org