NY S06010

Defines a "microbusiness" as a New York state resident business that is independently owned and operated, not dominant in its field, and employs fewer than five persons

Adds microbusinesses that have been in operation for at least five years and are located in empire zones, empowerment zones, highly distressed areas, or renewal communities to the list of entities eligible for linked deposit interest rate reductions

Requires the Urban Development Corporation to provide at least $5 million in program funds to lending organizations specifically for making micro-loans to microbusinesses

Allows microbusinesses to apply for small business revolving loan funding through the same process as other small businesses