New York Empowerment Zone Corporation Bronx Community Advantage Loan Program
Bronx small business loan program offering working capital and equipment financing in the Empowerment Zone and adjacent neighborhoods.
About this program
The New York Empowerment Zone Corporation Loan Program is a $10 million loan initiative for Bronx businesses administered through the Bronx Economic Development Corporation in partnership with the Business Initiative Corporation of New York. The program uses the SBA Community Advantage lending model to provide loans from $5,000 to $350,000 for working capital and small-balance capital equipment needs. It focuses on businesses in the South Bronx and Bronx Empowerment Zone district, including Hunts Point, Port Morris, the Yankee Stadium area, and adjacent Bronx zip codes.
Eligibility
Small and medium-sized businesses located in or serving the Bronx Empowerment Zone, South Bronx, or adjacent eligible Bronx neighborhoods that need working capital or capital equipment financing and can meet lender underwriting requirements.
Requirements
- Operate in the Bronx Empowerment Zone, South Bronx, or an adjacent eligible Bronx area
- Use loan proceeds for eligible business purposes such as working capital, payroll, inventory, or capital equipment
- Complete Bronx Economic Development Corporation or Business Initiative Corporation of New York intake