| FINANCING
Brooklyn Economic Development Corporation and its affiliate,
the Regional Economic Development Assistance Corporation, (REDAC) do not
currently offer financing to the general small business community. There
are several organizations which provide financing and technical assistance.
Some of them are listed below.
Financing and Technical Assistance Links:
The following are sources of potential financing for businesses
in New York City. They are categorized by the region in which they concentrate
their financing.
Citywide - the following funds make business loans
throughout New York City:
Accion NY – provides loans to startup and early-stage businesses
up to $50,000. http://www.accionnewyork.org/
BOC Capital Corporation - - provides loans to startup
and early-stage businesses, up to $50,000. http://www.bocnet.org/boccapitalcorp/
Count Me In – provides loans, only through an
online application, to startup and early-stage women-owned businesses,
up to $10,000. http://www.count-me-in.org/
NYANA - provides loans to startup and early-stage businesses
run by immigrant entrepreneurs, up to $50,000. http://www.nyana.org/businesscenter.asp
NYC Financial Network Action Consortium (NYCFNAC) -
provides financing in partnership with its member credit unions to start-up
and operating businesses in NYC, generally up tp $350,000. http://www.nycfnac.org/business_loans.html<
/p>
Renaissance - provides loans to startup and early-stage
businesses up to $50,000. http://www.renaissance-ny.org/
Women’s Venture Fund - provides loans to women-owned
startup and early-stage businesses, up to $15,000. http://www.womensventurefund.org/loans.asp<
/p>
Bronx – the following funds make loans to
Bronx-based businesses:
BOEDC - provides loans to startup and early-stage Bronx
businesses up to $50,000, and greater amounts for real estate purposes
and advanced businesses. http://www.boedc.com/econdev/loangrantprog
s.cfm
SOBRO - provides loans to startup and early-stage Bronx
businesses up to $15,000. http://www.sobro.org/b.1.1.php
Brooklyn – the following funds make loans
to Brooklyn-based businesses:
CAMBA - provides loans to startup and early-stage Brooklyn businesses
up to $15,000.http://www.camba.org/serv02.htm
Bed-Stuy Restoration Corporation- provides loans to
startup and early-stage Brooklyn businesses up to $50,000. http://www.restorationplaza.org/bd/rcf.html
Manhattan– the following funds make loans
to Manhattan-based businesses:
WHIDC - provides loans to startup and early-stage businesses
in Upper Manhattan, up to $50,000. http://www.members.aol.com/whidc/bossloan.h
tml
Queens – the following funds make loans
to Queens-based businesses:
Greater Jamaica Development Corp. - provides loans only to businesses
in the Jamaica area (114XX zip code) up to $300,000.
http://www.gjdc.org/Greater
JamaicaLocalDevelopmentCompany.HTML
New York Landmarks Conservancy: Several grant and loan
programs to help finance exterior, as well as structural interior, capital
work on older buildings. The properties need not be designated landmark
buildings in most cases, but must be of some architectural interest to
qualify. All of the programs are accompanied by technical assistance vis-à-vis
landmark quality work and public processes.
New York Landmarks Conservancy:
141 Fifth Avenue, 3rd Floor, New York, New York 10010
212-995-5260 Telephone, 212-995-5268 Fax
Karen Ansis, Fund Manager: karenansis@nylandmarks.org
Andrea Goldwyn, Program Coordinator: andreagoldwyn@nylandmarks.org
Jim Mahoney, Program Coordinator: jamesmahoney@nylandmarks.org
- Historic Properties Fund – a revolving loan
fund for any type of property or owner. Low interest, collateralized
loans (down to 3%) for preservation work on buildings that are officially
landmarks, within historic districts, or minimally eligible for listing
in the State or National Register of Historic Places. (Conservancy staff
can help you to obtain this determination from the State Historic Preservation
Office; it involves little further public regulation or compliance cost.)
Loans range from $20,000 to approximately $300,000 per project.
- City Ventures Fund – a grant program for nonprofit
developers of affordable and special needs housing. Grants of up to
$40,000 are available for special preservation work on older buildings
that generally do not have any landmark status but have good architectural
quality and integrity.
- Emergency Preservation Grants – a grant program
for nonprofit owners of historic properties for emergency repair work.
Grants of up to $25,000 are available for immediate work that addresses
public safety, water penetration, or other issues that threaten the
preservation of the property. http://www.nylandmarks.org
MicroBiz NY is a membership organization of programs
and organizations that provide training and technical assistance services
and financing to microenterprises and small businesses. http://www.microbizny.org/reg_nyc.htm
The New York State Banking Department lists a number
of nonprofit and for-profit financing sources for microenterprises and
small businesses. http://www.banking.state.ny.us/sbusines
/region.htm
The Federal Reserve Bank of New York Community Development Department
lists nonprofit financing sources that support microenterprises and small
businesses. http://www.newyorkfed.org/regional/
commdev/sbguide.pdf
If you would like to be contacted in the future about possible future
financing programs at BEDC and REDAC, please complete the following information.Click
here.
If you are looking for business plan assistance or other business startup
information, please contact your local Small Business Development
Center (SBDC): To find the nearest SBDC: http://www.nyssbdc.org/Locations/locations
.html
Trickle Up Grant Program provides very small grants of
up to $700 for low-income entrepreneurs. For more information about it,
and to find a Trickle Up Grant Program provider near you, visit the Trickle
Up website: www.trickleup.org
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