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Brooklyn Chamber Launches 'The Brooklyn Fund' Loan Program
By: Kelsey Denette Apr. 26, 2013
The Brooklyn Chamber of Commerce has announced that it has created "The Brooklyn Fund" in partnership with the New York Business Development Corp.
The Fund is open to all Brooklyn-based businesses and entrepreneurs. The Fund will also have a special focus on immigrant business owners.
The Fund will be offered as an option for eligible applicants through the NYC Business Solutions Center at 9 Bond Street in Downtown Brooklyn.
The $10 million fund offers small dollar loans up to $350,000 backed by U.S. government guarantees through the U.S. Small Business Administration's Community Advantage and Small Loan Advantage Programs. Interest rates on the fund can run as low as 6%.
WHO:
Carlo A. Scissura, President & CEO, Brooklyn Chamber of Commerce
Patrick MacKrell, President & CEO, New York Business Development Corp.
Linda Sarsour, Executive Director, Arab American Association of New York
WHAT:
Launch of "The Brooklyn Fund" with a focus on immigrant businesses
WHEN:
Wednesday, May 1, at 10 a.m.
WHERE:
Arab American Association of New York
7111 5th Avenue
Brooklyn, NY 11209
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