New York City Small Business Opportunity Loan Fund
A low-interest small business loan to keep your business moving forward.
Due to the high level of interest, the NYC Small Business Opportunity Fund has temporarily paused taking new applications while participating lenders review completed applications.
If you have not completed an application, you can fill out an 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 with next steps.
As you look to the future, there are exciting opportunities for small businesses like yours. The New York City Opportunity Fund is here to help you take on whatever lies ahead with low-interest financing.
You can use your New York City Opportunity loan for nearly any business need, including refinancing your high-cost debt. With an affordable loan to support your needs, you can take on new opportunities to keep your business growing.
Affordable monthly payments
Low, fixed interest rate
No prepayment penalty
What is the New York City Small Business Opportunity Loan Fund?
The New York City Small Business Opportunity Loan Fund is a collaboration between the City of New York and local Community Development Financial Institute (CDFI) partners, like Pursuit. Through the Fund, business owners throughout the five boroughs can access low-interest financing to keep moving forward as the business community recovers from pandemic-related challenges.
Whether you need funding for working capital, purchasing equipment, or refinancing debt, you’ll find an affordable loan through the Opportunity Fund.
New York City Small Business Opportunity Loan Fund Details
- Loan amounts: up to $250,000
- Interest rate: fixed at 4%
- Term:
- 5 years for loans up to $100,000
- 6 years for loans over $100,000
- No prepayment penalty
Is the New York City Small Business Opportunity Loan Fund right for me?
If your business is located in one of the five boroughs of New York, then you may be a good fit for the New York City Small Business Opportunity Loan Fund!
To qualify for the Fund your business must:
- Be located in New York City
- Earn less than $5 million in annual revenue
When you apply for the program with Pursuit, you’ll need to have the following documents ready to streamline the application process:
- Last 2 years of personal and business tax returns
- 2 months of most recent business bank statements
- Interim year-to-date income statement and balance sheet for the current year
- Information on existing business debts
- Copies of photo IDs for all owners over 20%
- A voided check for your business
What can I use the New York City Small Business Opportunity Loan Fund for?
You can use your New York City Opportunity Loan for almost any business need. Whether you’re making upgrades to your business, taking on a new opportunity, or need to refinance debt, the New York City Opportunity Fund can help! Here are just a few ways you can use the New York City Opportunity Loan Fund:
- Working capital
- Equipment
- Leasehold improvements
- Refinancing*
- Business acquisition
With the New York City Opportunity Loan Fund, you’ll find a flexible and affordable financing option to keep your business moving upward, outward, and onward.
Sign up to get notified about updates on the fund.
Learn how other businesses have used our programs to reach higher:
The New York City Small Business Opportunity Loan Fund is administered by Pursuit Community Finance
Ready to apply?
If you would like to learn more about the New York City Small Business Opportunity Loan Fund, reach out to us at [email protected] or submit an inquiry. We will guide you through the entire application process.
