East Harlem Business Capital Corporation (EHBCC) provides small business loans – from $500 to $50,000 -- on a competitive basis to existing and start-up retail, service and manufacturing businesses located within East Harlem. In 2005, in response to many requests from East Harlem’s start-up and established businesses, EHBCC made available, for the first time ever, micro loans from $500 - $2,500, often required for immediate inventory and working capital. Unlike EHBCC’s conventional loan, the EXPRESS LOAN is smaller than our customary $50,000 cap, requires less paperwork and is processed much faster.

Loans are targeted to those businesses not ordinarily served by other subsidized loan programs, or for which conventional bank loans are not readily available. Projects that involve the creation of jobs for the community's low and moderate income residents and which contribute to the overall economic revitalization of East Harlem will be given greatest priority. Loan preference is also given to women and minority-owned businesses and entrepreneurs. (See information on our Loan Program).

EHBCC is pleased to offer the BusinessWise seminar training series, an intense 18 session course that provides participants with formal, classroom instruction on business start up and expansion subjects like marketing, bookkeeping, insurance, and financial projections. At the end of the 8 weeks series, BusinessWise graduates are expected to have produced professional quality business plans that will allow them to apply for financing at EHBCC or any other financial institution willing to entertain applications from startups or recently established businesses. (See information on Business Wise). In addition to BusinessWise, EHBCC also offers NegociateSagaz, its Spanish-language equivalent, as well as financial literacy workshops, women in business seminars, pre-startup business sessions.

EHBCC’s computer lab is an integral part of our Technical Assistance program. Aspiring entrepreneurs can utilize the lab's computers to gather information from the Internet, draft letters and business plans, and produce financial projections.  EHBCC requires complete business plans from most of our loan clients, and the lab is essential for most of them in completing said plans.  In addition, BusinessWise students are introduced to Microsoft Excel and Word in order to assist them in rudimentary data/inventory management using a computer. (See information on our Computer Lab & Technical Assistance).

The Empire Zone program was created by the New York State Legislature in 1986 to benefit certain areas of New York State that face long-term unemployment and pervasive poverty. Eligible businesses can qualify for a wage tax credit, investment tax credit, zone capital credits, and a NYS sales tax refund. In addition, with enhanced benefits for qualified empire zone enterprises, you may receive other benefits which include sales tax exemptions, real property tax credit, and tax reduction credit. (See more information on Empire Zone).