The Bronx Revolving Loan Fund
A Loan Fund for Small Businesses in The Bronx
The Bronx Revolving Loan Fund, a lending program administered by The Bronx Overall Economic Development Corporation (BOEDC), utilizes non-traditional lending strategies to assist developing businesses. All businesses based 1 in The Bronx can apply for a loan.
Size of loan
Any small business located in The Bronx Must be a legally registered business for at least two years
Funds can be used as working capital, for the purchase of machinery or equipment, inventory or accounts receivable.
Terms of the Loan and Interest Rates
Two to five years, depending upon the size of the loan and the use of the funds, at prime plus 2%.
Loans less than $25,000: $100.00
Loans $25,000 and above: $250.00
Applicants will be charged a $100.00 fee to cover the cost of UCC filings
First security interest on assets
Personal and corporate guarantees