Articles & Alerts
Don’t Miss Out on the NYC Small Business Opportunity Fund!
Whether your company is a start-up or a growth-stage company, if it is based in New York City (NYC), you may be eligible for the newly released NYC Small Business Opportunity Fund program that provides support services for small business owners.
The Fund aims to deliver resources, including providing affordable capital and support services, to emerging companies and small businesses located within NYC’s five boroughs. Loans of up to $250,000 at a 4% fixed interest rate are available, and there is no minimum credit score required.
An estimate of the monthly repayment can be determined by the calculator found here.
Eligible businesses include:
- Businesses located in low- and moderate-income communities;
- Woman-owned businesses;
- Black-owned businesses, Indigenous-owned businesses, and People of Color-owned businesses;
- Immigrant-owned businesses;
- New start-ups or early-stage businesses with less than two years of revenue; and
- Rebuilding and recovering businesses.
The program’s goal is to capitalize and empower NYC small business owners to grow, rebuild and thrive. For additional information on the loan terms and eligibility requirements, click here.
To find out how this program may benefit your business, please contact your Anchin Relationship Partner.