| ACCÍON New York (Citywide)
Audubon Partnership for Economic Development, LDC (Manhattan)
Bethex Federal Credit Union (Citywide)
BOC Capital Corp. – Business Outreach Center Network (Citywide)
Business Resource Investment Service Center (Manhattan)
Bushwick Cooperative Federal Credit Union Bank (Brooklyn)
CAMBA Economic Development Corporation (Brooklyn)
Count Me In (Citywide)
East Harlem Business Capital Corporation (Manhattan)
Greater Jamaica Local Development Corporation, Inc. (Queens)
National Development Council – Grow America Fund (Citywide)
Lower East Side People’s Federal Credit Union (Manhattan)
National Minority Business Council (Citywide)
New York Association for New Americas – NYANA (Citywide)
New York City Financial Network Action Consortium (Citywide)
New York Community Investment Company (Citywide)
Project Enterprise (Citywide)
Renaissance Economic Development Corporation (Citywide)
Restoration Capital Fund (Brooklyn)
South Bronx Overall Economic Development Corporation (Bronx)
Trickle-Up Program (Citywide)
Union Settlement Federal Credit Union (Citywide)
Washington Heights & Inwood Development Corporation – BO$$ (Manhattan)
Women’s Venture Fund (Citywide)
ACCÍON New York
|
115 East 23rd Street
New York, New York 10010
Phone: 212-387- 0494 begin_of_the_skype_highlighting 212-387- 0494 end_of_the_skype_highlighting begin_of_the_skype_highlighting 212-387- 0494 end_of_the_skype_highlighting
www.accionnewyork.org |
| Description |
ACCION New York provides micro-loans and business advisory services to individuals and small businesses that do not have access to traditional sources of credit. |
| Area Served |
NYC, Long Island, Westchester, New Jersey |
| Loans |
• $500-$50,000
• Interest rates: 11%-18 %; Application fee: $25 |
| Focus/Key requirements |
Micro-loans for equipment, merchandise, working capital and business expansion |
| Other services |
Technical assistance, Legal advice |
Audubon Partnership for Economic Development, LDC
|
513 West 207 Street
New York, NY 10034
Phone: 212–544-2400
www.audubonpartnership.org/audubon2.html |
| Description |
The Audubon Partnership for Economic Development, LDC is a not-for-profit local development corporation serving the Washington Heights and Inwood areas of New York City. |
| Area Served |
Washington Heights and Inwood |
| Loans |
• Up to $25,000
• Interest rates: 10%; Application fee: $50 |
| Focus/Key requirements |
Business owners in areas of Washington Heights and Inwood |
| Other services |
Technical assistance |
Bethex Federal Credit Union
|
20 E 179th Street, Lower Level
Bronx, NY 10453
718–299–9100 Ext. 12
www.bethexfcu.org/about.htm |
| Description |
Bethex Federal Credit Union offers a wide range of financial services tailored to the needs of its membership. |
| Area Served |
New York state |
| Loans |
• Up to $200,000
• Interest rate: 11.75%; Application fee: $125, partially refundable. |
| Focus/Key requirements |
Co-signers required, references, bills, employment history |
| Other services |
Individual savings, checking accounts |
BOC Capital Corp. – Business Outreach Center Network
|
85 South Oxford Street
Brooklyn, NY 11217
718-625-1296
www.bocnet.org/boccapitalcorp |
| Description |
BOC Capital Corp. is an affiliate of the Business Outreach Center Network, and is a not-for-profit Community Development Financial Institution (CDFI). It is dedicated to providing micro-enterprise financing, with a special focus on small-business, women, and minority and immigrant entrepreneurs. |
| Area Served |
New York City |
| Loans |
• $500-$25,000
• Interest rates: 8%-10%; Application fees: $25-100 |
| Focus/Key requirements |
Women, minority and immigrant entrepreneurs |
| Other services |
Technical assistance, Multiple language capacity |
Business Resource Investment Service Center
|
290 Lenox Avenue, 2nd Floor
New York, NY 10027
212-876-2246
www.brisc.umez.org |
| Description |
The Business Resource & Investment Center (BRISC) was established by the Upper Manhattan Empowerment Zone and The U.S. Small Business Administration to provide technical assistance and financing to small business owners and entrepreneurs located in Upper Manhattan |
| Area Served |
Harlem, Washington Heights and Inwood |
| Loans |
• $25,000-$200,000
• Interest rate: prime; Application fee: $125; Closing fee: $250-500 |
| Focus/Key requirements |
Small business owners interested in expanding or relocating, residents who want to start new businesses. |
| Other services |
Technical assistance, Credit counseling, Business plan |
Bushwick Cooperative Federal Credit Union Bank
|
1475 Myrtle Avenue
Brooklyn, NY 11237
718-418-8232
www.rbscc.org/default.asp?menu1_Id=8 |
| Description |
Newly formed community development credit union that is organized to address the shortcomings of current financial services in the neighborhood. |
| Area Served |
Bushwick, Brooklyn or family in Bushwick |
| Loans |
• $10,000 to $50,000
• Interest rate: 14%; Application fee: $20-$25 |
| Focus/Key requirements |
Payment history, history of employment, personal references |
| Other services |
Personal loans, Checking/savings account |
CAMBA Economic Development Corporation
|
Church Avenue 2nd Fl
Brooklyn, NY 11226
718-287-2600
www.camba.org/index.html |
| Description |
CAMBA is one of Brooklyn’s largest community-based social service organizations and provides a continuum of employment, education, health-related, housing, legal, social, business development and youth services to approximately 28,000 individuals each year |
| Area Served |
Brooklyn |
| Loans |
• $500-$15,000
• Interest rate: prime + 4%; Application fee: $25 |
| Focus/Key requirements |
Low-income entrepreneurs and others with limited access to credit and businesses located in central Brooklyn |
| Other services |
Free legal services, Technical assistance |
Count Me In
|
240 Central Park South, Suite 7H
New York, NY 10019
212-245-1245
www.count-me-in.org |
| Description |
Count Me In champions the cause for women’s economic independence by providing access to business loans, consultation and education |
| Area Served |
National |
| Loans |
• $500-$10,000
• Interest rates: 8%-15%, tied to credit; Application fee: none |
| Focus/Key requirements |
Loans can be used for working capital, purchase of inventory |
| Other services |
Technical assistance |
East Harlem Business Capital Corporation
|
2261-63 First Avenue, 3rd Floor
Entrance at 357 East 116th Street
New York, NY 10035
212-427-6590
www.ehbcc.org |
| Description |
East Harlem Business Capital Corporation is a non-profit community development and financial organization promoting economic development and job creation in East Harlem by providing small business owners and entrepreneurs access to capital and quality business technical and consulting services |
| Area Served |
Zip codes: 10029, 10035, some 10007, coterminous with CB11 |
| Loans |
• $2,500 to $12,000
• Interest rates: prime + 2%-3%; Application fee: $100. |
| Focus/Key requirements |
For working capital, inventory or equipment, the purchase or improvement of real property; land and building acquisition, construction and renovation, leasehold improvements, signage, machinery and equipment |
| Other services |
Technical assistance, NYS Empire Zones program, Business training |
Greater Jamaica Local Development Corporation, Inc.
|
90-04 161st Street
Jamaica, Queens, New York 11432
718-291-0282
www.gjdc.org |
| Description |
Greater Jamaica Development Corporation is in the community building business. Its purpose is to transform downtown Jamaica into a regional sub-center for the New York Metropolitan
area |
| Area Served |
Southeast Queens |
| Loans |
• $10,000-$300,000
• Interest rate: below market, pegged to prime; Application fee: $100;Commitment fee: 1% |
| Focus/Key requirements |
New and existing businesses located in SW Queens |
| Other services |
NYS Empire Zone, BID, Workforce development |
National Development Council – Grow America Fund
|
51 E. 42nd Street, Suite 300
New York, NY 10017
212-682-1106
www.nationaldevelopmentcouncil.org |
| Description |
The Grow America Fund provides SBA-guaranteed credit to small businesses in partnership with client communities, rural areas, and of minority- or women-owned businesses |
| Area Served |
National |
| Loans |
• $5,000-$500,000
• Interest rate: prime + 2.75%; Application fee: none |
| Focus/Key requirements |
Viable businesses with and growth potential that do not meet conventional lender’s profile |
| Other services |
Technical assistance |
Lower East Side People’s Federal Credit Union
|
37 Avenue B
New York, NY 10009-7441
212-529-8197
www.lespfcu.org |
| Description |
The Lower East Side People’s Federal Credit Union (LESPFCU) is a community development credit union serving primarily low- and moderate-income people on New York City’s Lower East Side |
| Area Served |
Lower East Side (live, work, worship or volunteer) |
| Loans |
• $10,000 – $150,000
• Interest rate: prime + 1%-6%, unsecured 9.5%-13.5%; Application fee: $25-$50 |
| Focus/Key requirements |
Character, length of time living/working in neighborhood, and references |
| Other services |
Individual Development Accounts (IDA), Business accounts, Non-profit accounts |
National Minority Business Council
|
25 West 45th Street
Suite 301
New York, New York 10036
212-997-4753
www.nmbc.org |
| Description |
NMBC is dedicated to providing business assistance, educational opportunities, seminars, purchasing listings and related services to hundreds of businesses throughout the tri-state area and across the nation |
| Area Served |
New York City |
| Loans |
• $1,500-$25,000
• Interest rate: 7.5%; Application fee: $150 |
| Focus/Key requirements |
Certified minority- and women-owned business enterprises (MWBE) |
| Other services |
SBA certification, Technical assistance |
New York Association for New Americas (NYANA)
|
17 Battery Place
New York, NY 10004-1102
212-425-2900
www.nyana.org |
| Description |
Assist new immigrants and their families from every nation in every aspect of their lives, from education and healthcare, to legal advice and job placement |
| Area Served |
New York City |
| Loans |
• Up to $50,000
• Interest rates: prime + 2.5%, or Application fee of 2.75% |
| Focus/Key requirements |
Immigrants |
| Other services |
Technical assistance, Legal advice, Business training/development |
New York City Financial Network Action Consortium (NYCfNAC)
|
175 Remsen Street, Suite 350
Brooklyn, NY 11201
718-260-0099, Ext. 101
www.nycfnac.org |
| Description |
NYCfNAC promotes access to affordable, convenient and comprehensive financial services and credit by building a network of the city’s leading community development credit unions and strengthening their capacity |
| Area Served |
New York City |
| Loans |
• Up to $400,000
• Interest rate: prime + 3.5%; Application fee: $50 |
| Focus/Key requirements |
Financing for expansion of existing businesses, renovation of facilities, equipment acquisition, furniture and fixtures, working capital |
| Other services |
Technical assistance |
New York Community Investment Company (NYCIC)
|
110 William Street, 32nd Floor
New York, N.Y. 10038
212-693-0870
www.nycic.com |
| Description |
NYCIC provides long-term capital of up to $1 million to select growing businesses in New York. Created in 1995 by a consortium of prominent banks, NYCIC was founded to support the growth of well-managed small companies with the potential to yield outstanding returns |
| Area Served |
New York State |
| Loans |
• $100,000 – $1,000,000 |
| Focus/Key requirements |
Businesses that are owned by minorities or women, and companies that operate in or benefit lower income areas or are located in a New York State Empire Zone, are especially encouraged to apply |
| Other services |
|
Project Enterprise
|
10 William Street, 32nd Floor
New York, NY 10027
212-678-6734
www.projectenterprise.org |
| Description |
Project Enterprise’s mission is to support and develop entrepreneurs and small businesses in under-resourced communities in New York City. By providing access to business loans, business development services and networking opportunities, these entrepreneurs are able to increase their standard of living, create jobs for their communities, and build financial assets |
| Area Served |
New York City |
| Loans |
• $1,500 – $12,000
• Interest rate: 12%; Registration fee: $25; Processing fee of 2% |
| Focus/Key requirements |
At least 12 months in business, at least $5,000 in revenues and good financial records. Loans approved through Peer Lending Group |
| Other services |
Technical assistance, Peer support, Networking |
Renaissance Economic Development Corporation
|
1 Pike Street
New York, NY 10002
212-964-6022, Ext. 221
www.renaissance-ny.org |
| Description |
Renaissance Economic Development Corporation provides direct financing and technical assistance services throughout New York City. Renaissance focuses on low-income, immigrant neighborhoods and is committed to increasing business opportunities for low-income, minority, women, and immigrant entrepreneurs |
| Area Served |
New York City |
| Loans |
• $1,000-$100,000
• Interest rate: Manhattan: 4%, other boroughs: 5%-8%; Application fee: $25 |
| Focus/Key requirements |
Owner’s equity, credit, community benefit, repayment ability |
| Other services |
Technical assistance, business training, free legal advice, free CPA advice |
Restoration Capital Fund
|
1368 Fulton Street
Brooklyn, NY 11216
718-636-6930
www.restorationplaza.org |
| Description |
Restoration Capital Fund (RCF) was established to be the catalyst for business development, entrepreneurship and the overall economic improvement of Central Brooklyn through the provision of training and capital in a one-stop financial resources center |
| Area Served |
Central Brooklyn |
| Loans |
• Up to $50,000
• Interest rate: Prime + 2 %; Application fee: $100 |
| Focus/Key requirements |
RCF provides capital and technical assistance to Brooklyn businesses that are primarily owned (defined as 51% or more) by women or minorities |
| Other services |
Technical assistance, “single stop” program (public benefits, referrals to family counsel, tax assistance, and referrals to neighborhood tax filing centers, free financial, and legal help) |
South Bronx Overall Economic Development Corporation
|
555 Bergen Avenue
Bronx, NY 10455
718-292-3113
www.sobro.org |
| Description |
SoBRO addresses all facets of community development: assisting businesses to get started and grow, training residents according to the needs of employers, offering opportunities for youth to grow and learn, and creating affordable housing and commercial space that reduces blight in the community |
| Area Served |
South Bronx |
| Loans |
• $2,000-$25,000
• Interest rates vary; Application fee: $100 |
| Focus/Key requirements |
Must be in business for at least two years in the Bronx |
| Other services |
Career development, Technical assistance |
Trickle-Up Program
|
104 W. 27th Street, 12th Floor
New York, NY 10001-6210
Phone: 212.255.9980
Main Web site: www.trickleup.org
New York specific Web site: www.trickleup.org/usprogram_america_factsheets.asp?RegionName=New+York |
| Description |
Founded in 1979, the Trickle Up Program’s mission is to help the lowest income people worldwide take the first step up out of poverty by providing conditional seed capital and business training essential to the launch of a micro-enterprise. Trickle Up began working with economically disadvantaged communities in the U.S. in 1994, coordinating with more than 20 partner agencies. Trickle Up partner are generally community-based organizations or community development corporations that have an established track record of reaching the economically disadvantaged in underserved neighborhoods. |
| Area Served |
New York state. |
| Loans |
• $700 |
| Focus/Key requirements |
Trickle Up reaches the lowest-income people who are often not considered creditworthy (either due to having no credit history or ‘bad’ credit history). |
| Other services |
Business training. |
Union Settlement Federal Credit Union
|
237 East 104 Street
New York, N. Y. 10029
212-828-6062
www.unionsettfcu.org |
| Description |
Union Settlement FCU is a non-profit member-owned financial cooperative dedicated to the economic development of the East Harlem community. |
| Area Served |
Anyone who lives, works, attends school or church within the boundaries of East Harlem. |
| Loans |
• $1,000 to $100,000
• Interest rate: 8%; Application fee: $25-$150. |
| Focus/Key requirements |
Personal loans, Savings/checking accounts, Financial |
| Other services |
education. |
Washington Heights & Inwood Development Corporation – BO$$
|
57 Wadsworth Avenue
New York, NY 10033
212-795-1600
www.whidc.org |
| Description |
Local development corporation focusing on commercial revitalization, employment placement services and housing development. |
| Area Served |
Washington Heights and Inwood |
| Loans |
• Average: $15,000
• Interest rate: 6.25%; Application fee: $50 |
| Focus/Key requirements |
Businesses with fewer than 10 employees and incomes of less than $500,000. |
| Other services |
Business training, Technical assistance. |
Women’s Venture Fund
|
240 West 35th Street, Suite 501
New York City, 10001
212-563-0499
www.womensventurefund.org |
| Description |
The Women’s Venture Fund, Inc. is a not-for-profit organization that targets women entrepreneurs in under-served urban communities. As a multi-service micro-lender, the Women’s Venture Fund, Inc. assists these entrepreneurs in pursuing their business aspirations, thereby benefiting themselves, their families and their communities. |
| Area Served |
New York City and parts of New Jersey |
| Loans |
• Up to $15,000
• Interest rate: 6.25%; Application fee: $50 |
| Focus/Key requirements |
Women entrepreneurs. |
| Other services |
Training, Peer support, Technical assistance. |
Business Advisers
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