ITHACA, N.Y. -- College students at Cornell University have formed BR MicroCapital, a new organization founded to support local micro business owners with Alternatives Federal Credit Union being one of its partners.

The business support program is structured to assist business owners with their business strategies and tackle difficult business challenges. The lending program offers customized loans along with coaching support. The initiative is a partnership of Johnson Graduate School of Management students, Alternatives FCU and the Center for Sustainable Global Enterprise at Cornell.

The program is open to Tompkins County residents with an income level less than 75% of the county's median income, have a business that has been operational for at least six months and have limited access to the formal financial system due to poor credit history, lack of credit history, or limited collateral.

"Behind every small venture is someone's big idea. By combining the knowledge and dedication of the Johnson School students with the infrastructure and experience of Alternatives, we can provide something of unique value that helps aspiring business owners in our community succeed," said Tristram Coffin, CEO of Alternatives.