The New Markets Revolving Loan Fund (NMRLF) is a federal program to help small business owners in low-income neighborhoods access loans or micro-loans from lenders by providing funds for selected loan providers. Loan providers are required to provide dollar for dollar matching funds for each proposed NMRLF loan.
New York City Economic Development Corporation (NYCEDC) oversees the loan providers for the NMRLF program in New York City. Loans are to be provided only to small businesses and micro-entrepreneurs located in low-income communities as defined by the U.S. Department of Treasury Community Development Financial Institutions Fund.
The current loan providers for this program are Seedco Financial Services, Inc. and Project Enterprise. Each loan provider has its own requirements and processes for applicants. In order to access loans, applicants should contact the loan providers directly. For loans up to $200,000 contact Seedco Financial Services for loans up to $12,000 contact Project Enterprise.
144 W. 125th Street, 4th Floor
New York, NY 10027
Seedco Financial Services, Inc
915 Broadway, 18th Floor
New York, NY 10010
For further assistance, please call 311 and ask for: New York City Economic Development Corporation