EXCELerate Loan Fund 2.0

Growth capital loans available to established BIPOC-owned businesses in Brooklyn seeking to expand operations and support equitable economic growth.

Program Details

• 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

Funding Source

Supported by: Social Justice Fund of the Joe & Clara Tsai Foundation

Mission

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.

Funding Details

• 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

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