List of New York City Microlenders

Small businesses are always looking to someone to lend them money to make to idea come alive or simply grow their business and banks are not always a workable source. So where can a small business owner go to gain some cash infusion outside of friends and family? The answer is a microlender. Most states have microlenders and you can find a list of them thru your local chambers or the U.S. Small Business Administration (SBA) office in your area. I would not trust to many other sources for lending outside these two due to the numerous scams out there. But know there are many peer-to-peer lending sources as well and will share those on another day.

You should know the SBA increased the size of the small loans it backs to $50,000 under the Small Business Jobs Act singed into law in September 2010. Below are the New York City lenders that make SBA-backed microloans.

 

East Harlem Business Capital Corp | 212-427-6570 | www.ehbcc.org | servicing East Harlem

Grameen America Inc. | www.grameenamerica.com | servicing Queens, Brooklyn and Upper Manhattan

Renaissance Economic Development Corp. | 212-964-6022 | www.renaissance-ny.org | servicing all boroughs

Washington Heights & Inwood Development Corp. | 212-795-1600 | www.whidc.org | servicing Inwood and Washington Heights

Accion USA Inc. | 212-387-0377 | www.accionusa.org | servicing all boroughs and New Jersey

The Angel Fund | 718-787-1400 | www.angelfundnetwork.org | serving Brooklyn and Manhattan only

BOC Capital Corp | 718-624-9115 | www.bocnet.org | serving all boroughs

Business Center for New Americans | 212-898-4130 | www.nybcna.org | servicing Queens and Staten Island focusing on immigrants, refugees and women in the other three boroughs