Below is information about financial and incentive programs for retail properties. To find out more, please contact Lori Raphael, director of real estate & development, at 718-875-1000 ext. 140, or firstname.lastname@example.org.
BEC New Communities
Brooklyn Ecumenical Cooperatives (BEC) New Communities leases commercial storefronts throughout central Brooklyn.
Cinderella Program - National Grid
Cinderella provides grants for façade and curbside improvements of abandoned buildings, new affordable housing and retail stores on commercial strips.
- Project must incorporate natural gas technologies.
- Project must be located within National Grid’s service territory.
- The developer must have an acceptable compliance history in its business activities.
- Project should be completed within one year from application submittal.
Micro-Loans - ACCION
For existing businesses of at least six months with initial loan of up to $10,000. Loans are for new renovation and equipment. Size of loan from $500 to $25,000. Interest rate is 16% yearly APR. Term is between six months to two years.
Micro-Loans - CAMBA
Provides small business loans to low-income entrepreneurs and others with limited access to credit. Preference is given to “micro” businesses, those with limited access to capital, low-income entrepreneurs, and businesses located in Central Brooklyn. Size of loan up to $15,000. Term is up to three years.
Regional Economic Development Assistance Corporation (REDAC) - Mini-Loan Program
For acquisition of land and buildings, construction and renovation, leasehold improvements, acquisition of machinery and equipment, and working capital. Size of Loan from $5,000 to $50,000. Minimum rate of prime plus 1.5% floating, adjusted annually. Term with a maximum of five years.