BOC Capital Corp. (BCC) is a not-for-profit Community Development Financial Institution (CDFI) and SBA microlender dedicated to providing financing to community businesses.
BCC has a special focus on lending to minority, women, immigrant and low-income entrepreneurs as well as businesses located in low-income neighborhoods.
Since 2001 BCC has provided over $16.2 mm in loans to small businesses and preserved or created nearly 600 jobs.
Loan Products:
Term Loans: Amt: $1,000- $250,000 Term: 12-36months Rate: 6-10.5%
Purchase Order & Contract-Based Loans: Amt. $1000-$250,000 ($500,000 on NYC Agency contracts/ purchase orders) Term 1-12 months Rate: 8-12% (3% on NYC Agency Contracts)
Who we lend to: Business located or operating in the New York City metropolitan area
Ineligible Businesses or Uses: Real Estate, Gambling, Adult Entertainment, Illegal Businesses
BOC Capital Corp. MICRO LOAN PROGRAM
Building a business is difficult enough. Without access to traditional financing, it can be nearly impossible.
Every day, plans for business ownership falter due to credit obstacles.
BOC Capital Corp. aims to change this.
To help make entrepreneurial dreams a reality and to strengthen existing local businesses, BOC Capital Corp. now offers credit-related products for business development in NYC communities.
Founded in 2001, BOC Capital Corp., an affiliate of the Business Outreach Center (BOC) Network, is a not-for-profit Community Development Financial Institution (CDFI), SBA 7m Microlender and a certified Community Development Entity (CDE) dedicated to providing microenterprise financing, with a special focus on small-business, women, minority and immigrant entrepreneurs.
Thanks to BOC Capital Corp., local entrepreneurs now have access to flexible, customized loans-as well as ongoing business development assistance-to help with everything from supporting a new business, to taking an existing local business to the 'next level.' Plus BOC Capital specializes in financing small order-based design and production companies!
Now, local entrepreneurs have affordable, user-friendly loan products available to them, including:
Order-based loans - $500 to $250,000 loans to finance production costs related to purchase orders or cash outlays required to fulfill contracts;
Credit Builder loans – $500 to $2,000 loans with repayment terms shorter than one year;
Term microloans – $1,000 to $50,000 loans for eligible business purposes;
Green Business Loans - $1,000 to $75,000 for environmental businesses and projects improving energy efficiency of existing businesses.
BOC Capital Corp.'s flexible financial products for entrepreneurs also integrate the training, business counseling, and technical assistance of the BOC Network to help prospective borrowers in:
Identifying credit challenges
Business planning
Marketing
Early-stage business development
Business expansion and
Business and financial management.
All applicants of BOC Capital Corp. are thoroughly reviewed by its loan committee comprised of small-business development and lending professionals.
Funded in part through a grant award with the U.S. Small Business Administration.
Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact (718) 624-9115 or boccapitalcorp@bocnet.org to make arrangements.
To learn more about BOC Capital Corp., please contact:
(718) 624-9115
Reach us via e-mail at: boccapitalcorp@bocnet.org
Contract-Based Construction Loans
BOC Capital Corp. is pleased to announce financing opportunities to help small businesses secure and deliver on construction contracts. BOC Capital is offering loans to cover contract-related labor and equipment costs in order to mobilize or bridge contract-based needs.
Loan Amounts: $20,000 -$250,000
Interest Rate: 10% APR (0.83% per month)
Terms: 3 months - 12 months
As a mission-based lender, BOC Capital is looking forwared to helping minority-owned, woman-owned and small-scale construction contractors succeed and grow. Through this innovative collaboration, BOC Capital is intensifying its focus on the construction industry with the aim to improve the economic prospects of hard-working men and women in construction whose opportunities are hindered by lack of access to capital and management support.
Short-term loans of $20,000-$250,000 are available to your construction business if you meet the following criteria:
In operation for at least 2 years
Revenues up to $7 million
Employ a minimum of two permanent or temporary employees
Are being considered for a construction contract
Are authorized to do business in the New York metropolitan area
BOC Capital staff are readily available to assist you through the application process.
Contact: BOC Capital Corp. Inquiries
Phone: (718) 624-9115
Email: Reach us via e-mail at: boccapitalcorp@bocnet.org
About BOC Capital
BOC Capital Corp. is a Community Development Financial Institution and SBA Microloan Intermediary dedicated to providing financing and management support to underserved entrepreneurs and small businesses to launch, stabilize and grow. BOC Capital provides loans from $1,000 to $250,000 to community businesses in New York City, Westchester County and Long Island. BOC Capital has loaned over $9.5 million to small businesses including contract-based loans for design/manufacturers and M/WBE contractors. Affiliate Business outreach Center Network delivers comprehensive microenterprise and small business development services through local centers in all five NYC boroughs with a focus on underserved communities and immigrant, minority, women and low-income entrepreneurs.
Goldman Sachs 10,000 Small Businesses is an initiative to unlock the economic growth and job-creation potential of 10,000 small businesses across the United States through greater access to business education, financial capital and business support services.www.gs.com/10ksb
Surdna Foundation is a private, grantmaking foundation located in New York City that seeks to foster sustainable communities in the United States — communities guided by principles of social justice and distinguished by healthy environments, strong local economies, and thriving cultures.
BOC Capital Corp. is a Community Development Financial Institution (“CDFI”) dedicated to providing micro-enterprise and small business financing with a special focus on small-business, women, minority, and immigrant entrepreneurs in low-income and underrepresented communities.
The Department of Small Business Services (SBS) makes it easier for businesses in New York City to start, operate and expand by providing direct assistance to business owners, fostering neighborhood development in commercial districts, and linking employers to a skilled and qualified workforce.
Women Business Center
