Provides that microbusinesses in New York are eligible for small business revolving loans and the linked deposit interest rate reductions

This bill expands access to small business loans for New York's smallest businesses. It defines a "microbusiness" as an independently owned, non-dominant business with under five employees operating for at least five years in designated economic zones (like Empire Zones). The law requires the state's Urban Development Corporation to allocate at least $5 million specifically for loans to these microbusinesses, making them eligible for the same revolving loan programs and interest rate reductions previously available to larger small businesses. This directly affects qualifying microbusinesses in targeted communities seeking affordable financing.