Small Business Financing
 
The following is a sample of the wide range of community-based lenders, banks, and crowdfunding sources that the Pace SBDC works with to provide access to small business financing:
Contract Financing

New York City Contract Financing Loan Fund

  • Loans of up to $1,000,000 at 3% interest rate.

  • Requirements: must have an operating business, and funds must be to implement or bid on a City or NYC Economic Development Corporation (EDC) contract

  • Can be prime or subcontractor

  • Participating Lenders: BOC Capital, Trufund Financial Services, and Pursuit

New York State Bridge to Success Loan Program

  • Short-term bridge loans of up to $200,000 for certified Minority and Women-owned Business Enterprises (MWBEs)

  • Terms of up to 24 month loans to help firms execute contracting opportunities across New York State

  • Participating lenders make credit decisions and determine interest rates and applicable fees

  • Participating lenders include Carver Federal Savings Bank, Pursuit, and Trufund Financial Services