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Business
start up help New
York
ACCION New York
115 East
23rd Street
New York, New York 10010
Phone: 212-387- 0494
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
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
Top
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
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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
Top
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.
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
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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
S Empire Zone, BID, Workforce development
Top
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