The Business Initiative Corporation of New York (BICNY) mission is 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. These efforts will result in creating much needed jobs in The Bronx, as well as in the state, by assisting small businesses to grow and expand by acquiring below-market rate loans from the SBA and additional funds from private lenders.

We provide financing to:

  • Purchase commercial real estate that will be occupied by the business
  • Purchase machinery and equipment to be used by the business
  • Provide leasehold improvements to a property occupied by the business
  • Construct commercial real estate and/or make land improvements
  • Cover soft costs associated with any of the above uses of funds
BICNY focuses on all industries and sectors including industrial, commercial, manufacturers and service firms. BICNY also provides loans to businesses in low and moderate-income communities throughout New York State.


BICNY has access to experienced advisers, small business experts, financial lenders and community leaders who work together to help businesses grow. Meet our leadership.

Rafael Roger Executive Director
Jim Lanfranchi Board Chairman/Senior Vice President of Webster Bank


Michael Madonia Vice President - Team Leader M&T Bank
SYED AHSAN Associate Group Director Signature Bank
DOLORES BATISTA President Karma Business Group LLC
Juana Pena-Toress Senior Business Banker Capital One Bank
Raul Hiraldo Senior Vice President Wells Fargo Bank
GUSTAVO BUITRAGO Vice President Flushing Bank
RALPH BUMBACA Senior Vice President TD Bank
HUGH CAMPBELL Principal Rodman and Campbell, P.C.
JOSEPH COLEMAN President RiteCheck
RUBEN DIAZ, JR. President Borough of the Bronx
SANDRA ERICKSON President Sandra Erickson Real Estate
DANIEL GARCIA President/CEO Salsa Caterers
GEORGE E. GRACE President G.E. Grace & Company, Inc.
JESSICA JOHNSON President Johnson Security Bureau
MICHAEL ORTIZ Vice President JPMorgan Chase
AKBAR RIZVI Chief Lending Officer Spring Bank
MARK SIMSHAUSER Senior Origination Leader Hitachi Business Finance