Financing & Incentives

Neighborhood Credit Fund

The Neighborhood Credit Fund (NCF) supports small, local businesses by enhancing their access to loans and lines of credit of up to $250,000 in order to help them expand their operations and create jobs. NYCEDC works in partnership with five community development finance institutions to administer the program and work with eligible businesses.

Loan Size: Up to $250,000; $25,000 average loan size

Uses: Working capital, tenant improvements, refinancing of existing loans, purchase of machinery and equipment

Eligible Companies: Small Businesses must meet two (2) of the following eight (8) criteria:

  • < 3 years of operations
  • Has not accessed business financing from a bank in the past 3 years
  • FICO score < 640
  • DSCR < 2.0x
  • Unable to provide more than 30% of the loan as collateral
  • Certified M/WBE
  • Business located in a CRA-eligible area
  • Business has a co-signor
  • Funding Structure

Contact Info

To Apply

Applications are made directly to the lender. Contact any of the lenders listed below.

Approved Participating Lenders:

  • BOC Capital Corp - 718.624.9115
  • Brooklyn Cooperative Federal Credit Union - 718.418.8232
  • Empire State Certified Development Corporation - 212.785.5642
  • Excelsior Growth Fund - 212.785.5642
  • Renaissance Economic Development Corporation - 718.686.8223