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The Kick-Start Loan Program provides M/W/DBEs working on NYCEDC construction projects with capital to finance their mobilization efforts through program-sponsored loans of up to $150,000. These loans are to be utilized to meet long lead equipment, material and/or labor costs related to NYCEDC construction projects. The aim of this program is to increase access to capital and put larger projects within reach for MWDBEs which often encounter difficulty accessing the credit they need to grow. A Kick-Start Loan can go towards mobilization efforts at the start of a project or it mayb be used to manage cash flow later in the project life-- whichever best meets the needs of the contractor or subcontractor.
NYCEDC partners with BOC Capital Corp. (BOC) to provide Kick-Start loans. BOC is a not-for-profit Community Development Financial Institution that provides affordable, user-friendly capital to community based and high-growth M/W/DBEs, while creating jobs for community residents. BOC also assists with business development so that its borrowers can achieve success.
You can use Kick-Start to help you deliver success to both your business and your project by: