Thank you for your interest in the NYC Small Business Opportunity Fund. The program has officially concluded.
To be connected with funding and other free financing resources from the NYC Department of Small Business Services, visit nyc.gov/financingassistance or click here to learn more.
Thank you for your interest in the NYC Small Business Opportunity Fund. The program has officially concluded.
To be connected with funding and other free financing resources from the NYC Department of Small Business Services, visit nyc.gov/financingassistance or click here to learn more.
Program Highlights
1,046
$81,768
80%
69%
39%
Top Industries Served
- Accommodation & Food Services
- Retail Trade
- Professional, Scientific, and Technical Services
- Transportation & Warehousing
- Healthcare & Social Assistance
- Wholesale Trade
- Manufacturing
Success Stories
- At Valley of Beracah Imprint in the Bronx, Jonathan Melo used his loan of $26,110 from Ascendus so his dream of building a successful business he could pass on to his children could become a reality. His loan helped him increase capacity at his embroidering and apparel shop so he could meet demand in his community. Fourteen percent of loans were awarded to Bronx businesses, representing 147 Bronx businesses served with a total of $10 million in Opportunity Fund capital.
- At Nowon in Brooklyn, Chef Jae Lee used his loan of $250,000 from Renaissance EDC to expand to a market in Bushwick. The Opportunity Fund provided Chef Lee with critical capital that was otherwise inaccessible from traditional lenders and enabled him to employ dozens of New Yorkers across two boroughs. A total of 260 Brooklyn businesses received $22.8 million in Opportunity Fund capital.
- At Green Tara Market in Queens, Shahadev Khadka used his loan of $100,000 from Accompany Capital to expand the inventory at his supermarket. An immigrant from Nepal, Shahadev successfully managed several stores before deciding to take the leap and open his first storefront in NYC. A total of 304 businesses in Queens received a total of $23 million in Opportunity Fund capital.
- At Buunni Coffee in Manhattan, Sarina Prabasi and Elias Gurmu used their loan of $100,000 from Accompany Capital to open their own coffee roastery for their own business as well as make it available for other coffee shops in the surrounding area. The couple emigrated from Ethiopia and are proud to be able to share their home country’s coffee culture with an even wider audience. A total of 302 businesses in Manhattan received a total of $27 million in Opportunity Fund capital.
- At Chi Aesthetics on Staten Island, Dr. Chi Gibson used her loan of $100,000 from Pursuit to increase staffing and improve day-to-day operations at her health spa. A West African immigrant, Dr. Gibson faced difficulties finding capital from traditional lenders until she found the Opportunity Fund. A total of 33 Staten Island businesses received $2.6 million in Opportunity Fund capital.
Partner Organizations
Local partners. Local solutions for small business.
The Fund was created specifically for NYC small business owners, developed and administered by local partners – including the NYC Department of Small Business Services (SBS), Goldman Sachs’ One Million Black Women, Mastercard Center for Inclusive Growth, local Community Development Financial Institutions (CDFIs – non-profit community-based financial institutions), and local small business centers that understand your community and customers. Our collective goal? Energize, capitalize, and empower NYC small business owners to grow, hire, rebuild, and thrive. The NYC Small Business Opportunity Fund is made possible through public-private partnerships with the following:
Community Development Financial Institutions (CDFIs)
