Take advantage of growing international markets

Take advantage of growing international markets

New York is creating a new initiative to help small businesses in the state take advantage of growing international markets.

Gov. Andrew Cuomo announced the program Tuesday at an international trade forum in New York City. The meeting included business leaders, government officials and representatives from 30 nations.

The state will initially invest $35 million in the effort. The money would be loaned to companies looking to expand their overseas exports. More than 20 private lenders will also participate.

The state is also partnering with the federal Export-Import bank to provide up to $500,000 in short-term financing to small businesses hoping to expand their international reach.

Cuomo says he's also planning upcoming trade missions to five nations: Canada, Mexico, Israel, China and Italy. Dates for the visits haven't been announced.

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