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SZCC

Statewide Zone Capital Corporation of New York (SZCC), is a privately owned loan fund committed to supporting the growth of jobs and economic opportunity in New York’s Empire Zones by providing capital for new and existing businesses. This program provides flexible, creative and low cost financing for qualified zone certified businesses.
  

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The 504 Company

Empire State CDC: The 504 Company is a not-for-profit corporation established in 1981. The 504 Company is licensed by the U.S. Small Business Administration (SBA) to provide the SBA 504 Loan Program in New York State.

The 504 Company is a national leader in loan approvals for this program and the only certified development corporation that actively markets the program throughout New York State. This program is ideal for businesses with promising growth opportunities. The 504 Company, in partnership with lenders, can provide fixed-rate, low down payment financing for owner-occupied real estate and equipment.
  
504 Loan Amounts:
• Standard - $1.5 million
• Public Policy - $2.0 million
• Manufacturers - $4.0 million

If project meet specific SBA Public Policy criteria, including a minority-owned, woman-owned or veteran-owned business, or is located in a rural area, the public policy amount is applicable.

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History


Over sixty years ago my parents Nicholas and Pasqualina Cornell opened Cornell’s’ Restaurant, 1733 VanVranken Avenue. Cornell’s was to become one of the area’s finest and well-known Italian dining establishments. My father’s experience as a bartender and waiter in New York, Albany, and Schenectady; and my mother’s wonderful cooking skills made Cornell’s the success that it came to be. Because of this, the name Cornell’s has become a tradition which we are dedicated to carry on.

My involvement in the family business has been in my blood from the early age of five. This was our life. I helped whenever I could, washing dishes, waitressing in my teens, and finally working in all aspects of the business until it was sold by my parents in 1977. I continued working for various restaurateurs until 1985, when, I married a wonderful man, “Merf” Aragosa, and semi retired working in retail and real estate.

In 1997, my son Jim, suggested we had an opportunity to reopen Cornell’s and carry on the family tradition started by my parents. A short time later Jim and I reopened the doors of Cornell’s at it’s original location. With his expertise and experience in the kitchen (still using his grandmother’s original recipes) along with my skills in the front of the house our business became an on going success story.

In 2002 there was a perfect marriage in the making that would give birth to our new restaurant at 39 North Jay Street. Schenectady’s “Little Italy” initiative, our need for more seating capacity, and our desire to open a banquet facility. With the purchase of two buildings in “Little Italy”, an aggressive construction plan, help from wonderful contractors and friends, we were able to dedicate our new restaurant in December 2003.
The surroundings have changed, but, the cuisine, service and atmosphere, remain the same. If you haven’t joined us yet, please come down. If you are a regular, we appreciate your continued patronage. As always it is our pleasure to serve you and continue the long standing family tradition of Cornell’s Restaurant.

–Buono Appetito, JoAnn Cornell-Aragosa, Owner

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In 1997, my son Jim, suggested we had an opportunity to reopen Cornell’s and carry on the family tradition started by my parents. A short time later Jim and I reopened the doors of Cornell’s at it’s original location. With his expertise and experience in the kitchen (still using his grandmother’s original recipes) along with my skills in the front of the house our business became an on going success story.

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Reason for not paying state taxes, not making enough money because there are very few people in the area of your business that spend money in your establishment.