Loan Program

EHBCC provides loans for small businesses located (or to be located in East Harlem) for the purposes of working capital, inventory, or equipment.  On average, loan amounts range from $500 to $50,000 for a term of two to five years.  The loans can be used for a wide variety of purposes, including but not limited to the purchases of inventory and equipment; business related renovations of commercial or retail, owned or leased real estate; working capital to fund ongoing operations; and/or advertising and promotions.

EHBCC provides these loans to small businesses on a case by case basis. All loans are secured by liens on business assets and the personal guarantee of principal(s). Lending criteria vary according to loan size, use of loan proceeds, term of loan, credit history, and collateral available. Each loan request is evaluated on its individual strengths and weaknesses and the company/principal's ability and willingness to repay the loan. This is determined by an analysis of past and/or projected income and expenses, credit/repayment history of principal owners, and industry/market trends.

Types of Financing

EHBCC provides loans of up to $50,000 for the purchase or improvement of real property; this includes land and building acquisition, construction and renovation, leasehold improvements, signage, machinery and equipment.

  Working Capital Financing:

EHBCC provides loans of up to $50,000 including lines of credit and seasonal inventory loans. EHBCC Small Business Loan Fund is the only operational loan fund targeted exclusively at East Harlem, and one of the few in the City that provides bilingual technical assistance and counseling.

  Loan & Investment Partnership Financing:

EHBCC provides access to an array of additional loan and investment products in partnership with entities such as the Riverside Church Loan Fund, Grow America Fund, Statewide Zone Capital Corporation, Seed Capital Partners, Banco Popular, Citibank, and others.

If you would like to find out more about our loan program please contact Nelson Garcia by email (Ngarcia@ehbcc.org) or by phone at 212.427.6590.

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