Senior Staff

Rafael is the Interim President of BOEDC and is also the Executive Director of The Business Initiative Corporation of New York (“BICNY”). Founded in 1998, BICNY helps entrepreneurs and companies gain access to private and public funding in the state of New York. He is responsible for developing SBA 504 loans by connecting banks and other referral services in New York State and oversees BICNY’s loan portfolio. BICNY has been featured in Crain’s New York Business Magazine, including the “NY Area’s Largest SBA-Guaranteed Loans” list. BICNY has provided over $120 million in loans to businesses in The Bronx and throughout New York State which helped leverage over $371 million from banks and private equity investments. As of September 2021, these loans have retained and created thousands of jobs. BICNY has received three “Bronze Awards” from the US SBA New York District Office. Rafael represents the Bronx Borough President in five Business Improvement District (BID) boards in the borough. He is also a member of the Brooklyn Hispanic Chamber of Commerce.

Duncan is responsible for all fiscal, human resources and grants management matters of the company. Originally from the United Kingdom, he is trained as a Chartered Management Accountant. After relocating to the United States, he earned an MBA in Finance from NYU Stern School of Business. He has worked for multiple British, French and Swiss government railway divisions in both London and New York.

Michael focuses on engaging the prospective borrower and guiding them from the initial phase of documentation, including credit analysis through to loan closing. He is also involved with providing technical assistance to businesses on a wide range of topics including business plans, loan documentation, permits and governmental requirements.

Michael represents the Bronx Borough President on two Business Improvement District (BID) boards and serves as a liaison between BOEDC and various community groups, including the Jerome Avenue Revitalization Collaborative (JARC) as a member of the steering committee and works with economic development, business and banking groups.

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