The Brooklyn Fund
The Brooklyn Chamber of Commerce, in partnership with New York Business Development Corporation, has created "The Brooklyn Fund" to provide Brooklyn-based small business owners with access to business loans to help promote growth and expansion. Brooklyn is well-known as a very diversified borough in New York. The Brooklyn Fund will have a particular focus on immigrant and veteran owned businesses throughout the Brooklyn Community. The $10 million fund offers small dollar loans up to $350,000 backed by U.S. government guarantees through the U.S. Small Business Administration's Community Advantage and Small Loan Advantage Programs.
The fund will be administered by New York Business Development Corporation (NYBDC), a non-bank lender who will make loans to end borrowers. Interest rates will range from six to eight percent.
Applications must be submitted through the Brooklyn Chamber's NYC Business Solutions Center, located at 9 Bond Street, 5th Floor, Brooklyn, NY 11201. Technical assistance managers are available to help businesses complete the application and related required documents.
For more information, click here to download a flyer.
Complete The Brooklyn Fund Application
Download the following forms for completion: The Brooklyn Fund Application
The Brooklyn Fund Participants:
THE BROOKLYN CHAMBER OF COMMERCE is a community that supports and advocates for its member businesses. Our mission is to promote a healthy and robust business environment in Brooklyn. The Brooklyn Chamber of Commerce will be the foremost resource for doing business in Brooklyn, respected as a leader in advancing public policy, new technologies, products, services and programs that support and promote a vibrant local economy. For more information, visit www.ibrooklyn.com.
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