Help comes to Brooklyn-based small business owners
Brooklyn-based business owners–especially the borough’s immigrant entrepreneurs–will get a hand in moving forward thanks to “The Brooklyn Fund,” created by the Brooklyn Chamber of Commerce in partnership with New York Business Development Corporation (NYBDC).
Loans of up to $350,000, with interest rates ranging from six to eight percent, will be provided — giving small mom-and-pop shops the opportunity to grow and expand.
Business owners will have to apply. In order to be eligible, a business must be engaged in, or propose to do business in the United States, have reasonable owner equity to invest, and use alternative financial resources before seeking financial assistance.