named programs · 1 · from sources
What they call their work
Business Loan Program
Provides secured loans to businesses in the Town of Cheektowaga for acquisition of fixed and current assets, expansion, working capital, and refinancing that results in new job creation, with a focus on benefiting low- and moderate-income individuals.
activities · 3 groups
What they do
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Small Business and Nonprofit Lending 3 activities
- Providing loan financing for working capital and operational improvementsOffers loans for permanent working capital needs, refinancing existing debt when it leads to new job creation, and funding for employee training programs and operational efficiency upgrades.
- Providing low-interest loans for business asset acquisition and developmentOffers low-interest loans to support economic development through the acquisition of fixed assets such as equipment, machinery, and buildings, as well as for current assets including inventory and accounts receivable.
- Providing secured loans for job creation with low- and moderate-income hiring requirementsOffers secured loans to businesses in the Town of Cheektowaga conditioned on the creation of new job opportunities, with at least 51% of those jobs going to low- and moderate-income individuals on a full-time equivalent basis.
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Regional Economic Development Initiatives 1 activity
- Conducting regular meetings to support local economic developmentHosts regular meetings focused on advancing economic development initiatives in the Town of Cheektowaga.
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Women Entrepreneurs Grant Programs 1 activity
- Funding specific business projects through targeted loan programsProvides grantmaking-style loan funding to specific businesses for defined purposes, including a $340,000 loan to Colvin Oakdale LLC and Gordon Companies for equipment, a $150,000 loan to Hanzlian Sausage Incorporated for machinery and working capital, and a $400,000 loan to Gordon Companies Inc. for software development and operational efficiency.
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financials · form 990 · fy2024
revenue
Total revenue$5K
Contributions & grants$00%
Program service revenue$2K44%
Investment income$1323%
Other revenue$3K
expenses
Total expenses$126K
Program expenses87%
Admin / overhead13%
Fundraising0%
Salaries & benefits$6K
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$959K
Cash$584K
Investments$0
Liabilities$27K
Net assets$932K
Liquid reserves55.4 mo
6 years on record · 2019–2024 · YoY revenue +11.0%
leadership · form 990 part vii · fy2024
Who runs it
board members · 9
- DAVID TYTKA — DIRECTOR
- DENIS SERUGENDO — DIRECTOR
- DERIK KANE — DIRECTOR
- ETHAN RUOT — VICE PRESIDENT AND TREASURER
- JAMES ANTKOWIAK — DIRECTOR
- JASON MACKIEWICZ — DIRECTOR
- PAUL GILDEN — DIRECTOR
- RICHARD J WILLIS — SECRETARY
- ROBERT LOWERY — PRESIDENT
relationships · 14
Who they work with
- CEDC Network — Organizer of the Cheektowaga Economic Development Corporation meeting.
- CEDC Partner — Organizes and hosts the Cheektowaga Economic Development Corporation meetings.
- Cheektowaga Chamber of Commerce Partner — Employer of board member Greg Wichlacz
- Colvin Oakdale LLC Partner — Recipient of a loan for equipment acquisition.
- Community Development Block Grant Program Government — Federal funding source supporting the CEDC's economic development activities.
- E.C.C Electrical Construction Corp. Partner — Employer of board member Paul Gilden
- Gordon Companies Partner — Recipient of a loan for equipment acquisition.
- Gordon Companies Inc. Partner — Recipient of a loan for software development and operational efficiency improvements.
- Hanzlian Sausage Incorporated Partner — Recipient of a loan for machinery, equipment, inventory, working capital, and operational upgrades.
- Key Bank Partner — Employer of board member David Parker
- LaBella Associates Partner — Employer of board member Derik Kane
- M&T Bank Partner — Employer of board member Joseph Dietrich
- U.S. Department of Housing and Urban Development Government — Funds the organization through the federal Community Development Block Grant Program.
- Uniland Development Partner — Employer of board member David Tytka
strategies · 3
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Community-Engaged Economic Planningmethodology: community-engaged planningBy conducting regular public meetings, we increase transparency and coordination in economic development efforts because inclusive planning processes build community trust and improve alignment between development initiatives and local needs.
- Local Economic Development with Geographic and Sector Focusmethodology: local-economic-developmentBy concentrating business support within the Town of Cheektowaga and in specific high-impact sectors, we strengthen the local economy because localized, sector-specific investments create more sustainable growth and retain economic value within the community.
- Targeted Lending for Inclusive Job Growthmethodology: job-targeted lendingBy providing secured loans to local businesses with job creation requirements, we generate employment opportunities for low- and moderate-income residents, because tying financing to measurable job outcomes ensures economic benefits are equitably distributed.