STATE BUDGET UPDATE (3/31/07):

It would appear that as the ink dries on state budget bills, both EAP and CDFI were funded.

Entrepreneurial Assistance Program(EAP)  funded at $1.8 million (this is the same amount appropriated last year, but now instead of being sub-allocated from the Minority and Women Business Development Lending Program(MWBDLP),  EAP has its own line item appropriation in the budget. 

Community Development Financial Institutions (CDFI's) funded at $1.5 million (sub-allocated from the MWBDLP).  This is a 50% increase in funding.

Too view the Budget Conference Sub-Committee report please go to:
http://www.assembly.state.ny.us/comm/WAM/20070330j/ecdev.pdf

Congrats to all of you that pushed for more funding for both of these programs!  ESDC is changing and I believe will focus more on small business development in the near future.