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Small Business Services Directory
Established in 1995, CREDIT Inc., a certified Community Development Financial Institution (CDFI), offers three major services to small businesses in the South Bronx: 1) Loans that range from $100 to $15,000 from an in-house fund; 2) Loan packaging services for businesses that require loans greater than $15,000; and 3) Technical assistance. CREDIT Inc. helps businesses develop business plans, offers marketing assistance, prepares and analyzes cash flow projections, and assists with strategic planning. CREDIT Inc. also partners with other SoBRO programs to provide financial services and financial literacy seminars to individuals and businesses.
Cypress Hills LDC provides technical assistance to small businesses along Fulton St., Liberty Avenue, and Glenmore Avenue commercial strips from the Queens border to Pennsylvania Avenue.
The Division of Minority and Women-Owned Business Development performs three major functions: encourage and assist state agencies that are engaged in contracting activities to award a fair share of state contracts to MWBEs; review applications by businesses seeking certification as an MWBE and maintain a directory of certified MWBEs; and promote the business development of MWBEs through education and outreach to agencies and MWBEs.
Lower Manhattan Business Outreach Center provides Business counseling, technical assistance, and microfinancing. We also provide business training and workshops in English and Chinese.
In addition to standard Empire Zone [EZ] benefits, businesses in this zone receive additional security and maintenance services and human resources development assistance. The zone covers zip codes 11207 and 11208 and borders 11212, 11233 and 11239.
The East Brooklyn In-Place Industrial Park [IPIP] covers 120 acres near the eastern boundary of Brooklyn, within the communities of East New York and Brownsville. There are 100 businesses in the park, including metal fabricators, furniture manufacturers, wholesale distributors of durable goods, and manufacturers of non-ferrous metals. Liaison services between area businesses and city agencies are also available. The IPIP is located in The East Brooklyn Economic Development Zone and standard EDZ benefits- tax and utility savings- are available. The IPIP is contiguous with a New York City Business Improvement District [BID].
The New York State Empire Zone program was created in 1986 to help qualified companies reduce their cost of doing business. North Brooklyn was designated as an Empire Zone in 1998, and recently expanded in 2006 to include parts of Williamsburg and Greenpoint. As an Empire Zone certified business, firms are eligible to claim various credits against their New York State Tax liability. These credits are tied to employment and investment, and are available to industrial and manufacturing businesses located within the zone boundaries. There is a certification process which includes an application, review by a local Zone Administrative Board, and a state review to ensure each application is accurate and each business meets the State
EWVIDCO serves industrial businesses located in Williamsburg, Greenpoint, and Bushwick. It offers general business development assistance; real estate, financing; ombudsman services; and employment job training and placement services through its affiliate Williamsburg Works. EWVIDCO manages the NYC North Brooklyn Industrial Business Zone and the Greenpoint-Williamsburg Industrial Business Zones, Williamsburg Valley In-Place Industrial Park, listed separately, and the NYS North Brooklyn / Brooklyn Navy Yard Empire Zone.
Southwest Brooklyn IDC's current programs are focused business development in Sunset Park, Red Hook, and Gowanus. We administer the Southwest Brooklyn Industrial Business Zones (IBZ) and the Southwest Brooklyn Empire Zone. For businesses in these areas and those wishing to locate to Southwest Brooklyn it provides free technical and real estate assistance, referrals, an employment service, and an ombudsman program connecting businesses with government agencies and services.
Developers of commercial, industrial or retail facilities, as well as other types of facilities within the areas of Upper Manhattan and the South Bronx designated as the Empowerment Zone, can access triple tax-exempt bond financing. Reductions in mortgage recording and sales taxes may also be available. Borrowers must, among other requirements, commit to employ Empowerment Zone residents to be eligible for the program.