PRESS RELEASE

Contact:

Diane G. Pintagro

716-366-2334 ext. 12

FOR IMMEDIATE RELEASE

Photo Opportunity

March 31 2005

M & T Bank Gives Support to

Chautauqua Opportunities for Development Inc. (CODI)

with a $7,500 Grant to Sponsor

CODI’s Microenterprise Loan Fund and Other Programs

M & T Bank recently awarded Chautauqua Opportunities for Development, Inc. (CODI) a grant that will provide continued sponsorship for the Chautauqua Microenterprise Loan Fund (CMLF) and the various other programs offered by CODI.

On March 18, 2005, Bradley Dossinger, Vice-President and Regional CRA Officer for M&T Bank, presented a check in the amount of $7,500 to Chautauqua Opportunities for Development, Inc. at their offices at 402 Main Street in Dunkirk. Diane Pintagro, Director of Economic Development for CODI, graciously accepted the donation. Dossinger has worked with many other microloan programs in New York State and assisted CODI to help make this gift possible. Also in attendance was Jane Russo, Manager of the M & T Tops Dunkirk Office and member of the CMLF Loan Committee.

This is the fourth charitable gift that M&T Bank has made to CODI’s Chautauqua Microenterprise Loan Fund (CMLF) program. In August of 2000, M&T Bank awarded the CMLF with a grant for $1,800, which allowed the program to purchase loan management software used to track and manage its loan portfolio. In March of 2002, M&T Bank awarded the CMLF a gift of $10,000. This allowed the program to provide more loan capital to new and existing business owners in Chautauqua County. Then in December 2003, M&T Bank awarded CODI $5,000 to upgrade the loan tracking software and initiate an advertising program for its loan recipients.

The mission of CODI is to promote and create economic independence through business development and opportunities. To accomplish this mission, CODI offers various programs to area entrepreneurs, which include the following: the Chautauqua Microenterprise Loan Fund (CMLF), the Chautauqua Women & Minority Microenterprise Loan Fund (WMLF), and the Building for Business Individual Development Accounts (IDA). Aside from these programs, CODI also provides technical assistance and entrepreneurial training.

Through the Microenterprise Loan Fund Programs, CODI makes capital and technical assistance available to entrepreneurs and start-up businesses in Chautauqua County to create business opportunities and employment for low to moderate income individuals. A business that has 5 (five) or fewer employees, including the owner, will be eligible for loans ranging from $1,000 to $15,000 with a maximum term of 5 years. CODI’s Microenterprise Loan Fund programs have upheld the mission by working with area entrepreneurs and continuing their outreach and assistance to as many residents as possible. Since the inception of CODI in February 2000, over 660 applications have been sent to area individuals and 43 loans have been approved and disbursed. The total loan capital disbursed to area entrepreneurs is $416,901 and we look forward to many more loans.

CODI’s entrepreneurial training consists of an 8-week training course called “Small Business Essentials”, which is a community-based course focuses on instilling participants with financial literacy and business development skills. The course is offered twice a year, once in the Spring and once in the Fall, alternating between Dunkirk and Jamestown. The next course will be held in the Jamestown area in the Fall of 2005.

If you are interested in applying for a loan with CODI’s Chautauqua Microenterprise Loan Fund or have any questions about the various programs offered, contact Diane Pintagro at 366-2334 ext. 12.

Pictured left to right: CODI Economic Development Director Diane Pintagro, M&T Tops Dunkirk Office Manager and CMLF Loan Committee member Jane Russo, and M&T Bank Vice-President and Regional CRA Officer Bradley Dossinger

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