NYC Small Business Opportunity Fund

About the NYC Small Business Opportunity Fund

• The NYC Small Business Opportunity Fund provides access to flexible, affordable capital and free business support services to small business owners and emerging entrepreneurs in New York City.
• All loans and services are available through a network of local, mission-based lenders, which includes Renaissance Economic Development Corp.
• The easy application process helps you determine eligibility quickly and guides you through the requirements.


• The Fund serves all NYC-based small businesses in New York City’s five boroughs including:
   - Businesses located in low- and moderate-income (LMI) communities
   - Woman-owned businesses
   - BIPOC-owned businesses
   - Immigrant business owners
   - Early-stage businesses with less than two years of revenue
   - Early-stage start-ups
   - Rebuilding and recovering businesses

Interest Rate and Terms

• This small business loan program is intentionally designed to have flexible terms and low interest rates without a minimum credit score requirement.

• Loan amounts from the NYC Small Business Opportunity Fund range from a minimum of $2,000 to a maximum of $250,000, depending on the size and scope of your needs.

• NYC Small Business Opportunity Loans feature:
  - A low fixed interest rate of 4% with no prepayment penalty.
  - Maturity: 6 years or 72 months
  - Full amortization over 60 months for loans less than $100,000

• Small businesses can use their loan proceeds for a variety of purposes, including:
  - Working capital
  - Debt refinancing
  - Equipment or real estate investments
  - Inventory
  - Employee recruiting, hiring, and retention

Update: As of Feb 13, 2023, this program is temporarily closed. For more information, please go here.

The NYC Small Business Opportunity Fund is made possible through public-private partnerships with Goldman Sachs' One Million Black Women, Mastercard Center for Inclusive Growth, Community Reinvestment Fund, USA (CRF), local Community Development Financial Institutions(CDFIs), and small business service centers.