New York City Mayor Eric Adams and New York City Department of Small Business Services (SBS) Commissioner Kevin D. Kim announced on January 23, 2023 the groundbreaking creation of the $75 million NYC Small Business Opportunity Fund, the largest public-private loan fund directed at small businesses in the city’s history.
The Opportunity Fund is made possible through a historic partnership between the City of New York and Goldman Sachs, Mastercard Center for Inclusive Growth, Community Reinvestment Fund (CRF), and local community development financial institutions (CDFIs), and fulfills a key commitment in Mayor Adams’ “Rebuild, Renew, Reinvent: A Blueprint for New York City’s Economic Recovery.”
The new Opportunity Fund will support a more inclusive and diverse economy by enabling business owners to:
The NYC Small Business Opportunity Fund serves all NYC-based small businesses, including:
There is no minimum credit score required but applicants must demonstrate ability to repay the loan.
Learn more about this funding opportunity and apply!: NYC Small Business Opportunity Fund