Interest rates will vary.
BOC Capital Corp. is a participating lender with the following loan programs:
SBA MICROLOAN PROGRAM
An SBA Microloan is an affordable term loan of $500 to $50,000 for small businesses and certain not-for-profit childcare centers to help with start-up and expansion. Microloans can be used for a number of things, including:
- Working capital
- Inventory or supplies
- Furniture or fixtures
- Machinery or equipment
SBA COMMUNITY ADVANTAGE LOAN PROGRAM
An SBA Community Advantage loan is a small business term loan of $50,000 to $250,000 which is federally guaranteed. The program is designed to reach a segment of the small business community that is often unable to secure financing from traditional bank lenders.
CONTRACT FINANCING LOAN FUND
Contract Financing is a customized loan up to $500,000 for businesses with Construction and/or Goods and Services contracts with a NYC agency or NYC Economic Development Corporation (NYCEDC). Funded by NYC Small Business Services and NYCEDC, the loans support mobilization and cash flow needs for individual contracts and purchase orders with a 3% APR for eligible loans.
EMPIRE STATE DEVELOPMENT SMALL BUSINESS REVOLVING LOAN FUND (SBRLF)
SBRLF is designed to create economic activity by providing greater access to capital for main street everyday small businesses. The program is targeted to small businesses that have had difficulty accessing regular credit markets. Program funds used to finance an applicant loan will not be more than 50% of the principal amount and no greater than $125,000.
COMMUNITY ECONOMIC DEVELOPMENT (CED) REVOLVING LOAN FUND
Offered in collaboration with Business Outreach Center Network, CED loans range from $25,000 to $75,000 for equipment purchases and working capital. CED loans are designed to offer low-cost capital to businesses that share in the mission to support sustainable community business development and job creation.