MESSAGE
| DATE | 2005-08-21 |
| FROM | Ruben Safir
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| SUBJECT | Subject: [NYLXS - HANGOUT] Business Loans
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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
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
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/loangrantprogs.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.html
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/GreaterJamaicaLocalDevelopmentCompany.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-Ã -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-at-nylandmarks.org
Andrea Goldwyn, Program Coordinator: andreagoldwyn-at-nylandmarks.org
Jim Mahoney, Program Coordinator: jamesmahoney-at-nylandmarks.org
1. 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.
2. 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.
3. 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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