Brooklyn Alliance Capital, Inc. provides financing to under-served minority and immigrant entrepreneurs and low-income small business owners to increase financial stability and foster economic growth that will create jobs in Brooklyn.
Our federally certified Community Development Financial Institution (CDFI) offers micro-loans of $500 - $10,000 to small and medium size businesses.
Bring Back Brooklyn Fund Loan and Grant Program
We Support Small Business, When No One Else Can
Administered through Brooklyn Alliance Capital (BAC), the Bring Back Brooklyn Fund is designed to provide small businesses with:
- Grants for Personal Protective Equipment (PPE) and deep cleanings, and
- No-interest recovery loans up to $10,000 for businesses unable to obtain capital elsewhere.
Grant funds will be allocated to approved vendors for the purchase of PPE and/or deep cleaning services and earmarked for approved businesses based on their statement of need. Loan funds will be dispersed directly to qualifying businesses who meet BAC's underwriting standards, and upon the execution of binding loan agreement with the Brooklyn Alliance Capital. Both grant and loan funds are limited, and 65% of the total loan funds must be allocated for Minority/Women and/or Immigrant-owned businesses.
General Eligibility Criteria for a Bring Back Brooklyn Loan:
- Be no more than 30 days late on any bills, loans, credit cards, or any other payment. (With the exception of rent.) If you are late, the total late balance must be under $5,000. (Judgment)
- Not have declared bankruptcy in the past 12 months
- Not have gone through foreclosure in the past 24 months.
- Not have received and Economic Injury Disaster Loan, NY Forward Loan or any other Commercial Loan since March 1, 2020.
- If you received a PPP, you are still eligible for a BBBF loan or grant.
- Have a profitable business for the 12-months leading up to March 1, 2020
- Must agree to reopen your business in Brooklyn commensurate with the appropriate opening phase as outlined by NYS, and in accordance with the safety guidelines issued by NYS for your business sector.