Brooklyn's Progress
October/November 2005

Brooklyn entrepreneurs have found a new source for loans, lines of credit and other financial services at the Brooklyn Business Solutions Center, a mayoral initiative that partners the Brooklyn Chamber of Commerce with the NYC Department of Small Business Services (SBS) to provide a comprehensive menu of business development services.  Over the past 19 months, Business Solutions staff has helped 38 businesses throughout the borough obtain over $2 million in financing for a variety of business needs.

robbie dawg Expands Operation
robbie dawg, inc., a small woman-owned business based in Red Hook that bakes handcrafted organic dog biscuits, received financing assistance through the Brooklyn Business Solutions Center.  robbie dawg obtained a $50,000 line of credit through North Fork Bank, enabling robbie dawg's owner Lisa Fortunato to expand her operation from a home-based business to a completely renovated 2,700 square foot loft space.  robbie dawg, a Brooklyn Chamber Member, now sells products in fancy pet boutiques and gourmet groceries in 27 states.

Juka Enterprises Upgrades Retail Locations
Another Brooklyn Chamber Member, Juka Enterprises, Inc., a family-owned business of three unique retail shops on Park Slope's Fifth Ave. that sells antiques, imported furniture, cutlery, dinnerware and decorative home items, as well as gourmet candies and chocolates, obtained financiing through Business Solutions in the amount of $150,000 from Commerce Bank.  The financing will enable Juka to develop and maintain a Web site for online business including a wedding registry.  The funds will also help Juka obtain new inventory, expand its line of gift baskets as well as to upgrade facades to the retail locations.

June Hendricks, President of Juka Enterprises, notes that "the service at the Business Solutions Center was exceptional and the staff was very responsive to our needs.  The advice and assistance was great, and we were put at ease in the process."

Shakoor's Sweet Success
Shakoor's Sweet Tooth, a participant in Brooklyn Eats™, the Brooklyn Chamber's annual food tasting event, secured $50,000 from HSBC through the Brooklyn Business Solutions Center for expansion, relocation and working capital.  This Bedford-Stuyvesant specialty bakery shop started as a home-based business.

Marissa Watson, co-owner with her husband Shakoor Watson, notes that "without the assistance of the Business Solutions Center and the Brooklyn Chamber we might not have been able to expand and grow the business."

Chamber Helps 38 Businesses
Fred Graves, Director of Financial Services at the Brooklyn Chamber of Commerce, works closely with Business Solutions Center clients to assess their financial needs and to tailor their loan request package for the appropriate lenders.  The Brooklyn Chamber works with traditional commercial lending institutions such as banks and Small Business Administration (SBA) products, and it works with alternative, not-for-profit lenders such as ACCIÓN NY, Project Enterprise and the CAMBA Revolving Loan Fund. 

"It is often difficult for small businesses, especially start-ups, to obtain much-needed financing," states Rick Russo, Vice President for Business Services at the Brooklyn Chamber of Commerce.  "However, our diverse network of lenders enables us to help businesses access the financial assistance they often seek."

A wide range of businesses have benefited from the Chamber’s financial services including retailers, manufacturers, home-based businesses and entrepreneurs.  Financing has been accessed for a variety of purposes such as expansion, relocation, inventory and equipment purchase, capital improvement and renovations, debt consolidation, costs associated with start-up and working capital, among others.

To learn more about Brooklyn Business Solutions Center programs and the financial services offered through the Brooklyn Chamber of Commerce, call the Center at 718-875-3400, or call 3-1-1 and ask for Business Solutions.