NY A04679

Amends the Economic Development Law to add a new subdivision 12 to section 134, requiring the Division for Small Business to study, evaluate, and examine methods for establishing new financial products using existing state resources

Directs the Division to examine aggregation and sale of loan guarantees under various state loan and grant programs for small businesses in emerging domestic markets

Requires the Division to seek advice from foundation, not-for-profit, finance, and investment communities to enhance market acceptance of any new financial products established

Mandates annual reporting by February 1st to the Governor and Legislature on findings and recommendations

Defines "emerging domestic market" to include ethnic- and women-owned firms, urban and rural communities, companies serving low-to-moderate-income populations, and other small- and medium-sized businesses with growth potential facing capital constraints