Kick-Start Loan Program
The Kick-Start Loan Program provides minority-owned and women-owned businesses (MWBEs) with loans of up to $250,000. The aim of this program is to increase access to capital and put larger projects within reach for MWBEs who often encounter difficulty accessing the credit they need to grow. These loans can be used to cover payroll/labor costs, purchase equipment, cover material costs, and provide working capital.
A Kick-Start Loan can go towards mobilization efforts at the start of a project or it can be used to manage cash flow later in the project life, whichever best meets the needs of the contractor or consultant. Loan terms are flexible and applying is now very easy. Fill out a brief loan inquiry form and someone will be in touch with you soon.
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 MWBEs, 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 support your business by:
- Meeting the initial costs of your contract.
- Accessing funds to better manage cash flow during the life of your project.
- Enjoying user-friendly loan terms with a flexible repayment schedule.
- Increasing the opportunity to work on larger contracts.
Requesting a loan is now simple and easy! Click below to complete the loan inquiry form and a loan officer will be in touch soon.