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nyc small business opportunity fund

The NYC Small Business Opportunity Fund provides flexible, affordable capital to businesses in the five boroughs. Both new and existing businesses may be eligible for the fund. While there is no minimum credit score to receive funding, businesses must demonstrate their ability to repay the loan.


This is a program from New York City's Department of Small Business Services, and loans are made through a network of local, mission-based lenders including Accompany Capital, Ascendus, BOC Capital, the Harlem Entrepreneurial Fund, NDC, Pursuit, Renaissance, and TruFund Financial Services.

Due to the high level of interest, the NYC Small Business Opportunity Fund has temporarily paused intake of new applications while our lending partners assess completed applications. If you have not completed an application, please fill out this inquiry form to be notified if the Fund reopens and for further information on free services available to all New York City businesses. Businesses that have already applied will receive an email from a partner lender with next steps

Key Loan Terms

Loan Amount: $2,000-$250,000

Loan size will be determined based on applicant’s ability to repay the loan


Borrowing Entity: For-profit small business with revenue less than $5M


Interest Rate: Fixed rate 4%

Maturity: 60 or 72 months Amortization:

  • Fully amortized over 60 months (for loans < $100K);

  • Fully amortized over 72 months (for loans => $100K);

Interest-only for first six months on start-ups.


Use of proceeds: Startup, Business Acquisition, Transition Businesses, Refinancing, Equipment, Leasehold Improvements, Working Capital. No real estate (unless part of business acquisition.)


Prepayment: Borrowers may prepay the loan at any time without penalty.


Credit Requirements: There is no minimum credit score requirement, but applicants will need to provide documentation that they are able to repay the loan

What You'll Need To Apply:

The types of documents you need to provide may vary by lender, however here are some of the common documents you may need to apply:

For all businesses:

  • Evidence of legal formation

  • Ownership information

  • Documentation that demonstrates that the business can repay the loan, which may include:

    • Internally generated financials

    • Tax returns

    • Bank statements

For start-up businesses:

  • Proof of outside income or guarantors

  • Documented proof of 10% of loan investment or availability

  • Résumé showing:

    • 2 years of managerial experience; or

    • 5 years of work experience in same industry; or

    • prior ownership of similar business

  • Financial projections (as required by lender)

  • Where applicable, valid NYC operating license (e.g., childcare, food service, liquor, etc.)

Where To Learn More:

For program FAQs, more information, and to apply, visit the program website or call NYC SBS's Hotline at (888) 727-4692.

If you need assistance preparing a business plan, financial statements, or otherwise assessing your eligiblity and submitting an application, contact the Pace SBDC and make an appointment with a business advisor at no-cost to you. We are here to help.

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