We lend through the SBA 504 and Community Advantage loan programs.

The Business Initiative Corporation of New York’s (BICNY) was founded in 1994 with the mission to support economic development and induce private investments in New York State by providing below-market interest rate loans and long-term capital to the business community. As a Small Business Lending Company (SBLC) non-profit lender, BICNY focuses on loans that create jobs and uplift communities throughout New York State. BICNY also has a special focus on the place it was founded and operates from to this day, the Bronx. By assisting business growth and expansion by providing below-market rate loans through the SBA, and additional funds from private lenders, BICNY aids business growth in New York State.

We provide financing through both the SBA 504 and Community Advantage loan programs for:

• Working capital, such as payroll, rent, inventory, equipment, and more.

• Purchase owner occupied commercial real estate.

• Purchase machinery and equipment.

• Provide capital improvements.

• Construct commercial real estate and/or make land improvements.

• Cover soft costs associated with any of the above uses of funds.

• BICNY loans to all industries and sectors including industrial, commercial, manufacturers and service firms.