The Bronx Overall development Corporation (BOEDC) and the Office of the Bronx Borough President have established the Bronx Business Continuity Loan (BBCL) with the goal of providing recovery financing to Bronx businesses. The BBCL was created to help sustain viable businesses during the Covid crisis.
The use of these funds will provide local emergency business financing and bridge loan funding until government contingency financing is in place.
Eligible companies include for-profit entities , including service, retail and manufacturing companies operating in The Bronx and nonprofit organizations located in The Bronx. (Schools and residential buildings are excluded)
Eligible uses include payroll expenses, commercial mortgage and rent, equipment lease payments, insurance premium expenses, miscellaneous business discontinuous expenses.
Loans are available for a minimum amount of $25,000 and a maximum of $100,000. The loan term is up to two years (24 months) at a 0% interest rate. First payment is due 90 days after funding.
There is a $25 application fee. A sample application is provided.
CONTACT RAFAEL ROGER AT 347-524-4739, EMAIL rroger@boedc.com, or Pedro Barry, 347-297-0071, EMAIL pbarry@boedc.com
Bronx Overall Economic Development Corporation Bronx Business Continuity Loan Application (Covid19-bbcl)
Date:_________
Company Information
Company Name___________________________________________________________________________________________
Address______________________________________________City_________________State________Zip________________
Principal in charge____________________________________ Cell Phone ( ) Email:___________________
Secondary contact person______________________ ________ Cell Phone ( ) Email:___________________
(In-house controller or bookkeeper)
Type of Business________________________________________________________Date established____________________
Business Tel: _____________________________________ Email:
_____________________________________
Type of entity (check one)
Other
Company Ownership
Proprietorship
Proprietorship
Partnership
Partnership
Partnership
Corporation
Corporation
Corporation
Corporation
LLC
LLC
LLC
LLC
LLC
Name________________________________________________ Title_________________________ % Ownership________
Name________________________________________________ Title_________________________ % Ownership________
Name________________________________________________ Title_________________________ % Ownership________
Do any of the individuals listed in the above management section
or any of their relatives have any current, former or anticipated relationship
(financial or personal) with any current or former employee or Board Member of
The Bronx Overall Economic Development Corporation (BOEDC)?
No
Yes
If yes, provide details: ___________________________________________________________________________________
1
Affiliate Business Partners (If Applicable)
Name________________________________________________ Owner________________________ %Ownership________
Name________________________________________________ Owner________________________ % Ownership________
Existing Business Locations
Address______________________________________________ Square Feet ________________ Lease Payment__________
Address______________________________________________ Square Feet ________________ Lease Payment__________
References:
Accountant ___________________________ Firm Name______________________________ Phone___________________
Attorney______________________________ Firm Name______________________________ Phone___________________
Nature of Your Business:
Nature of your business __________________________________________________________________________________________________________ __________________________________________________________________________________________________________ __________________________________________________________________________________________________________
Type of products or services (include any catalogs or brochures) ___________________________________________________
2
Business Financials
Is your business generating revenue?
No
How much per year? $________________________
How much do you need to borrow? $________________________
What will you use the Loan for?
__________________________________________________________________________________________________________
__________________________________________________________________________________________________________
__________________________________________________________________________________________________________
Principle Information
Name: _______________________________________________________________
Address: _____________________________________________________________
City: ___________________ State:________________________ Zip:___________________
Social Security #:___________________________ Phone: _______________________ Email:__________________ Permanent resident?
No
U.S. Citizen?
Yes
Yes
Yes
No
3
No Have you or your business ever filed for bankruptcy?
If yes, when? _____________________
Have you and your business filed taxes for the most recent year?
No
Are you or your business ever been in a collections/foreclosure?
No
Have you or your business ever been the subject of a litigation?
No
Do you or your business have any outstanding business or personal loans?
No
Number of credit cards or lines of credit ______________________ Estimated combined balance ___________________
If you answered yes to any of the above please provide an explanation for each on a separate sheet.
Breakdown of Loan Proceed Expenditures
Expense Type Amount $
Total
Credit History
Yes
Yes
Yes
Yes
Yes
4
Checklist
Business Information
Business Certificate (Sole Proprietorship)
Personal Information (for each owner of 20% or greater):
Personal financial statement (form attached)
For information and support in using this loan program please contact Loan Specialists:
Pedro Barry mailto:pbarry@boedc.org Mobile: (347) 297-0071
Or Rafael Roger mailto:rroger@boedc.org Mobile: (347) 524-4739
Send completed application and all supporting documents to:
Michael Nixon Credit Analyst mailto:mnixon@boedc.org Mobile (347) 297-0051
Brief history & description of business
Business Financial Statement for last 2 years
Interim financial statement dated within last 60 days
Business debt schedule (form attached)
Federal tax returns for last 2 years
Business License & Fictitious Business Name Statement (if proprietorship)
Personal tax returns for last 2 years
Articles of Incorporation & By-Laws (if Corporation)
• President:
• Secretary:
Articles of Organization & Operating Agreement (if LLC)
Partnership Agreement (if partnership)
Franchise Agreement
5
Authorization to Release Information I/We hereby authorize the release to Bronx Overall Economic Development Corporation of any information they may require at any time for any purpose related to my/our credit transaction with them. I/We further authorize the Bronx Overall Economic Development Corporation to release such information to any entity they deem necessary for any purpose related to my/our credit transaction with them.
I/We hereby certify that the enclosed information, including any attachments or exhibits provided here within or at a later date, is valid and correct to the best of our knowledge.
Name of applicant(s)______________________________________________________________
Signature of applicant(s)________________________________________________________Date__________
Name of applicant(s)______________________________________________________________________
Signature of applicant(s)_______________________________________________________Date_____________