Small Business Resource Directory

Many organizations offer free and low-cost programs, services, and information to help small business owners in the Bronx to grow. You can browse a list of free and low-cost resources available to help start-up, established, and expanding business in the Bronx to succeed. If you would like a printable version, download a copy of WHEDco’s South Bronx Small Business Resource Guide.

Need to chat to someone?

Call/text WHEDco at 347-906-2335 or email us at econdev(at)whedco.org for assistance with your business needs.

Business Services

Ariva

69 E. 167th St. Bronx, NY 10452
718-292-2983
www.ariva.org

Ariva empowers low-income micro-entrepreneurs in New York to establish and build credit through workshops and one-on-one financial counseling sessions with certified advisors. Services are available in Spanish, English, and French at various locations in the Bronx and throughout New York City.

Bronx Overall Economic Development Corporation

851 Grand Concourse, Ste. 123, Bronx, NY 10451
718.590.6252
facebook.com/BOEDC

The Bronx Overall Economic Development Corporation (BOEDC), the economic development branch of the Office of the Bronx Borough President, helps businesses relocate and expand, recruit employees, access federal, state, and municipal benefits, implement energy-reduction projects, and more.

Business Center for New Americans

120 Broadway, Ste. 230, New York, NY 10271
347-730-6468
www.nybcna.org

The Business Center for New Americans (BCNA) helps New Yorkers achieve financial independence and home ownership through workshops about obtaining microloans, developing business management skills, understanding everyday cash management, and more.

Business Outreach Center Network

1231 Lafayette Ave., 2nd Fl., Bronx, NY 10474
www.bocnet.org
718.624.9115

The Business Outreach Center Network (BOC) is a not-for-profit organization that provides free business services to entrepreneurs in all five boroughs, resources are available for start-ups in all stages of development ranging from a business plan to a business loan to get started.

Empire State Development Corporation

633 Third Ave., 36th Fl., New York, NY 10017
212.803.3130
www.esd.ny.gov

The Empire State Development Corporation (ESDC) under the guidance of New York State government promotes economic growth through business investment and job creation. The ESDC offers tax-based incentives, operation support programs, loans and funding, and innovation development initiatives to businesses in a wide variety of industries,
including manufacturing, distribution, and transportation.

New York State Small Business Development Center at Lehman College

Lehman College Campus, 250 Bedford Park Blvd. West, Bronx, NY 10468
718.960.8806

The Lehman College Bronx SBDC, provides high quality one-on-one business management, consulting, information and education programs that builds the capacities of firms to compete in the domestic and international markets, helping the future business owners.

NYC Department of Small Business Solutions (SBS)

212.618.8810
www.nyc.gov/nbat

The Department of Small Business Services (SBS) helps unlock economic potential and create economic security for all New Yorkers by connecting New Yorkers to good jobs, creating stronger businesses, and building vibrant neighborhoods across the five boroughs.

SBSs Business Acceleration Team assists individuals and groups opening or operating food and beverage, industrial, and retail businesses with managing clients, navigating regulations, and planning for consultations
with city agencies.

SCORE NYC

851 Grand Concourse, Rm. 123, Bronx, NY 10451
718.590.6252
www.newyorkcity.score.org

SCORE NYC is a volunteer organization which provides a great deal of services designed to help small businesses. These services, most of which are FREE, are geared to both new businesses just starting our and existing businesses looking to grow. SCORE NYC’s services include FREE mentoring by highly experienced volunteers who can help with marketing, business plans, financial reviews, social media strategies, to name a few. SCORE NYC offers over 150 workshops covering a broad base of different subject areas. Their counselors can also help entrepreneurs prepare to apply for loans.

Small Business Development Center at Pace University

163 William St., Rm. 328, New York, NY 10038
212.618.6655
www.pacesbdc.org

The Pace University Small Business Development Center (SBDC) provides in-depth and confidential one-on-one business advisement, training, and research in areas such as financing, marketing and procurement to help entrepreneurs grow or launch their business. Housed within the Lubin School of Business, the Pace SBDC is part of a statewide network and combines the resources of Pace University, the private sector, and government to enable small businesses to reach their full potential, all at no cost to our small business clients.

United States Small Business Administration

26 Federal Plaza, Ste. 3100, New York, NY 10278
212.264.4354
www.sba.gov/offices/district/ny/new-york

The SBA provides financial assistance for new or existing programs, free counseling, and assistance to businesses owned and controlled by socially and economically disadvantaged individuals, women, and veterans. SBA regularly hosts events, workshops, and trainings on topics ranging from marketing to intellectual property rights.

WE NYC

http://we.nyc

WE NYC is an initiative based out of the NYC Department of Small Business Services, that is dedicated to helping women start and grow their business. WE NYC offers a range of tailored business services including networking events, business courses, and mentorship sessions.

Financing

Accion East

80 Maiden Ln., Ste. 903, New York, NY 10038
646.833.4525
www.accioneast.org

For over 25 years, Accion East, a nonprofit lender, has provided affordable loans to entrepreneurs and established small business owners. Customized loans of up to $250,000 and microloans from $1,000 to $50,000 are available. Common loan uses include working capital, equipment purchases, operating costs, marketing and promotional materials, vehicle purchases, location changes, inventory purchases, and expansion.

BOC Capital

85 S. Oxford St., 2nd Fl., Brooklyn, NY 11217
718.205.3773
www.boccapital.org

Operated with the Business Outreach Center (BOC), BOC Capital is a participating lender providing affordable payback rates starting with microloans at a minimum of $500 to $50,000 as well as community advantage and contract based loans ranging from $50,000 to $500,000 in all five Boroughs.

Business Center for New Americans

120 Broadway, Ste. 230, New York, NY 10271
347-730-6468
www.nybcna.org

The Business Center for New Americans (BCNA) helps New Yorkers achieve financial independence and home ownership through workshops about obtaining microloans, developing business management skills, understanding everyday cash management, and more.

Interest Rate Reduction Grant

nyc.gov/financingassistance

The Interest Rate Reduction Grant will help reduce the interest expense owed on an existing loan with select Community Development Financial Institutions (CDFI). CDFIs focus on serving businesses who cannot easily access capital and creating opportunities that positively impact the communities they serve. SBS has partnered with 11 CDFIs who work primarily with Asian, Black, Latinx, and immigrant business owners.

The grant will free up cash flow for your business that can be repurposed to help restart or maintain operations. Businesses must have an existing loan with CDFIs listed below and should contact their CDFI to confirm if they are eligible to apply.

Participating CDFIs

If you need additional help identifying and applying for funding for your business, visit nyc.gov/financingassistance.

LMI Storefront Loan

Product Details:

  • Loan amount: up to $100,000
  • Loan term: 60 months, including no payments the first six months
  • Interest rate: 0%
  • Pre-payment penalty: none
  • Closing fee: $300 (only if loan is approved)

Who Can Apply?

Businesses must:
  • Operate in one of these eligible LMI neighborhoods
  • Employ between 2-99 employees in total across all locations
  • Have been in operation since January 1, 2018, or before
  • Be cash flow positive in 2019 and be able to demonstrate the ability to repay
  • Have no personal or business tax liens or legal judgements within the past three years
  • Provide a personal guarantee for the loan. All owners of 20% or more of the business must co-sign on the loan and must have an average personal credit score of 625 or higher.

NDC Grow America Fund

24 Whitehall St., Ste. 71, New York, NY 10004
212.682.1106
www.ndconline.org

The NDC Grow America Fund, a community development lender, offers financing, education, and workshops, including monthly courses on business credit, to entrepreneurs and economic development professionals. NDC’s average loan size is $450,000, but smaller loans are available to a variety of diverse businesses, from repair shops to consulting firms.

Restaurant Return-To-Work Tax Credit

The $35 million Restaurant Return-to-Work Tax Credit Program provides an incentive to COVID-impacted restaurants to bring restaurant staff back-to-work, and to increase hiring at NYS restaurants. Qualifying businesses are eligible for a tax credit of $5,000 per new worker hired, up-to $50,000 per business.  The Program is open to eligible restaurants located in New York City, or in an area outside of New York City that was designated an Orange or Red Zone for at least thirty consecutive days.

To be responsive to the needs of COVID-impacted restaurants, the Restaurant Return-to-Work Tax Credit provides a Fast Track Option, which allows a business to claim the credit before the end of the tax year.

Restaurants may claim the credit after August 31, 2021 (Fast Track Option), if the business can demonstrate a net employee increase of at least 1 full-time employee as measured from April 1, 2021 to August 31, 2021.

Alternatively, restaurants can choose to claim the tax credit on their 2021 NYS tax return if the business can demonstrate a net employee increase of at least 1 full-time employee as measured from April 1, 2021 to December 31, 2021.

Eligibility

  • The program is open to all small independently owned and operated restaurants (excludes franchises) with less than 100 employees in New York City or in areas that were designated by the NYS Department of Health as either an Orange or a Red zone for at least 30 consecutive days
  • Applicants must be able to demonstrate COVID-related losses of at least 40% in gross receipts or full-time equivalent employees
  • Applicants must hire at least one full-time worker at the restaurant

Eligible businesses are full-service and limited service food and beverage establishments in New York State that predominately support on-premises, in-person dining, such as:

  • Full-service restaurants (i.e. waiter/waitress service)
  • Limited-service restaurants – where patrons generally order food at a counter and pay before eating
  • Bars, taverns, nightclubs, or other drinking places
  • Certain breweries/wineries/cideries/distilleries/meaderies with a tasting room

Tri-State Business Opportunity Fund

40 Broad St., Ste. 602 New York, NY 10004
212.231.4313
www.vedc.org

The mission of the Valley Economic Development Center’s (VEDC) Tri-State Business Opportunity Fund is to support consistent, high quality employment in communities in the New York area. The VEDC specializes in funding minority- and women-owned businesses, including start-ups and nonprofits, with loans ranging from $50,000 to $500,000 and microloans between $2,500 and $50,000. When packaging loans, the VEDC considers credit history, not credit score.

WE NYC

http://we.nyc

WE NYC is an initiative based out of the NYC Department of Small Business Services, that is dedicated to helping women start and grow their business. WE NYC offers a range of tailored business services including networking events, business courses, and mentorship sessions.

Legal Assistance