EXCELerate Loan Fund 2.0
Funding Amount
Up to $50,000
Deadline
Rolling / Open
Grant Type
foundation
Overview
EXCELerate Loan Fund 2.0
Overview: Growth capital loans available to established BIPOC-owned businesses in Brooklyn seeking to expand operations and support equitable economic growth.
- Loan Amount: Up to $50,000
- Interest Rates: 2% to 5%
- Target Businesses: Established businesses seeking growth capital
- Focus: BIPOC (Black, Indigenous, People of Color)-owned businesses in Brooklyn
- Geographic Scope: Brooklyn
Program Details
Funding Source
Supported by: Social Justice Fund of the Joe & Clara Tsai FoundationMission
The Social Justice Fund centers its work around Economic Mobility and Racial Justice for BIPOC populations in Brooklyn. As part of this commitment, the SJF partners with Brooklyn Alliance Capital (the Brooklyn Chamber of Commerce's CDFI) and TruFund Financial to assist BIPOC-owned businesses impacted by COVID and economic shutdown in restarting and recovery.- Total Fund: $2.5 million investment
- Managed By: Brooklyn Alliance Capital and TruFund Financial
- Loan Structures: Unique and flexible products designed to assist BIPOC businesses who cannot obtain restart capital through other resources
Funding Details
Contact
Stevenson Joseph Email: [email protected] Phone: 718-875-1000 ext. 133How to Apply
How to Apply
1. Start your application online using the provided application portal
2. Submit application with business information and growth plans
3. Work with loan officer for review and processing
Contact: Stevenson Joseph at [email protected] or 718-875-1000 ext. 133
Focus Areas & Funding Uses
Fields of Work
Categories
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