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.
For more information contact Stevenson Joseph at [email protected]
The $2.5MM Brooklyn EXCELerate Loan Fund supported by the Social Justice Fund of the Joe & Clara Tsai Foundation will target BIPOC-owned business owners in Brooklyn, providing "character-based" loans to help them get back on their feet post-pandemic and support equitable economic momentum in Brooklyn.
Be a BIPOC-owned (Black, Indigenous, People of Color) small business operating in Brooklyn. (At least 51% of ownership must be BIPOC)
- Was operating as of January 1st, 2020.
- Needs access to capital.
- Is unable to raise/borrow capital from traditional sources on reasonable terms. (Some exceptions apply)
- Has the potential to generate or retain incremental jobs in Brooklyn.
- Agrees to present and adhere to Technical Assistance.
Brooklyn eXCELerate Loan
Up to $15,000, 0% interest
The loan will aid Brooklyn businesses expand or help refinance an existing loan, with microloans ranging from $5,000-$15,000, and terms of up to three years.
About The Joe & Clara Tsai Foundation Social Justice Fund
The Social Justice Fund (SJF), an initiative funded by Joe and Clara Tsai Foundation, centers its work around Economic Mobility and Racial Justice for BIPOC populations in Brooklyn. As part of this commitment, the SJF is partnering with the Brooklyn Alliance Capital, the Brooklyn Chamber of Commerce's Community Development Financial Institution (CDFI), and TruFund Financial to assist BIPOC-owned businesses who have been impacted by COVID and the economic shutdown, in restarting and recovery. The SJF will provide a $2.5 million investment to be managed by the BAC and TruFund, to be deployed through unique and flexible loan products structured to assist BIPOC businesses who cannot obtain restart capital through other resources.