About the NYS CDFI Business Lending Network

Neighborhood Trust Federal Credit Union


Neighborhood Trust FCU is a non for profit financial organization committed and focused in promoting access of accessible and affordable loans and accounts to small businesses and microenterprises as well as individuals. As SBA alternative lender our offer starts from credit builder loans to term loans and lines of credit.


Quontic Bank


BUSINESS LENDING INFO: Loan amounts start at just $5,000 with interest rates typically lower than a standard credit card! Eligibility requirements: ◦Need only be in business for 7 months ◦Minimum revenues of $10,000 a month showing 3 months' growth (Revenues must exceed expenses for the 3 months) ◦Tax return or CPA statement ◦3 months' bank statements ◦Guarantors - 680 minimum credit score, tax return and bank statement ◦Must open and maintain a Quontic Bank non-interest bearing checking account


Harlem Entrepreneurial Fund


The Harlem Entrepreneurial Fund (HEF) provides micro-financing and technical assistance to small businesses in Upper Manhattan, Harlem, Washington Heights, Inwood, and the Bronx to facilitate growth and job creation in low-income NYC neighborhoods. HEF, a U.S. Treasury certified Community Development Financial Institution, has intensely focused its loan resources on underserved business owners, with an emphasis on supporting MWBE's with services that extend beyond financing and includes technical assistance support on business planning, budgeting, operations, and referrals for services to help grow their business. HEF's mission is to serve low income and minority groups by lending capital to small businesses, expanding opportunity and job creation in the areas it serves. HEF offers a Business Microloan to provide Minority/Women Business Enterprises (M/WBEs) with $10,000 to $25,000 for 1-3 year loan terms and a 4%-12% fixed interest rate. HEF offers a Credit Repair Loan to help small business owners with low to moderate incomes build/repair their credit with up to $1,500 in financing at a 12% interest rate to be repaid over 6-12 months.

BUSINESS LENDING INFO: HEF offers a Business Microloan to provide Minority/Women Business Enterprises (M/WBEs) with $10,000 to $25,000 for 1-3 year loan terms and a 4%-12% fixed interest rate. HEF offers a Credit Repair Loan to help small business owners with low to moderate incomes build/repair their credit with up to $1,500 in financing at a 12% interest rate to be repaid over 6-12 months.


Chautauqua Opportunities for Development, Inc.


To promote economic development and financial security CODI offers services for Businesses and Individuals to increase job opportunities and provide access to low cost financial products



Community Capital New York


Community Capital New York is a not for profit lender serving seven counties in the Mid-Hudson region (Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster and Westchester) as well as the Bronx. We specialize in making loans to those start up and emerging small businesses that are not yet able to secure a loan from a traditional lender due to the size of the loan, the length of time in business, credit issues, limited cash flow and/or the availability of collateral. In particular, we seek to serve low income women, minority and veteran borrowers and businesses located in distressed communities. Our more flexible underwriting creates opportunities for solid, sound businesses to move to the next level, even if they don’t presently qualify for bank loans. We are committed to fair, responsible, transparent lending. Our bi-lingual staff will work with you to determine if a loan is the best solution for your business at this time or if there is other assistance that will help you achieve your goals without taking on debt. If a loan is the right answer, we will help you pull your loan application together and be there for you once you are approved. Our staff provides over 3000 hours of training, coaching and one on one assistance to our small business clients each year at no charge. We will help you hone the skills you need to run a successful business, create jobs, and revitalize your neighborhood.

BUSINESS LENDING INFO: After four years, 87% of our businesses are still in business, compared to a national average of 50% - we attribute that success rate to the technical assistance, training, coaching and support we provide to our customers every day.


Cooperative Federal


Our credit union was founded by local organizers around specific concerns that included providing fair and friendly financial services designed by and for people of modest means; and serving those that conventional banks fail to serve, including women, minorities, very small businesses, and unconventional businesses and organizations (cooperatives, community groups, and nonprofits). Microenterprise development was and continues to be a primary tool used by Cooperative Federal to foster equal opportunity, promote economic justice, and build household and community assets. Today, Cooperative Federal is a full-service, city-wide financial institution that serves the economically distressed urban core of Syracuse from 3 neighborhood offices (Eastside, Southwest and Northside) plus student branches in 3 Syracuse public high schools. We have expanded our business loan territory to include under-served communities in Onondaga, Cortland, Cayuga, Madison, Oneida, and Oswego counties. Small Business/Microenterprise Loans include: Loans (secured) and Lines of Credit (secured or unsecured) for Working Capital, Equipment, Inventory, Business-purpose Vehicle, Debt Consolidation, Business Expansion, and other Fixed Assets. Cooperative Federal enables entrepreneurs to benefit from borrowed capital without taking on more debt than they can afford. We specialize in providing incremental infusions of capital that are appropriate for start-ups and other microenterprises.

BUSINESS LENDING INFO: A wide variety of loan amounts, terms, and security types are available but we primarily make microloans of $5,000-$35,000. Like consumer loans, our small business & microenterprise product design is responsive to the needs of our target market: there are low processing fees (up to 1% of the loan principal; waivers available), no minimum loan amounts, and a min. term of just 12 mos. Depending on collateral & risk rating, rates can be as low as 3.50% APR, maxing at 7% above prime for term loans and 18% for revolving credit. Our underwriting standards emphasize flexibility, with credit incentive & relationship pricing, and alternative credit verification options. Loans up to $10,000 can be unsecured, or they can be secured by one or more cosigners, business assets, and a variety of traditional and non-traditional collateral pledged by business owners or other associated persons.


Spring Bank


Spring Bank opened its doors in 2007. Since that time we have made almost $300M in small business loans throughout New York City. We are a unique institution dedicated to revitalizing the communities we serve. We are New York’s only B-Corp Bank* and a US Treasury designated Community Development Financial Institution (CDFI), recognition of our work serving the New York businesses that build our communities. Spring Bank is an SBA preferred lender and one of the city’s most active SBA lenders.

BUSINESS LENDING INFO: With our Grow Loan we are expanding access for businesses with capital needs below $150,000.


LES People's Federal Credit Union


LES People's is a 30-year-old community development credit union. We are a full-service cooperative financial institution, with 8,500 members and branches serving 4 neighborhoods - Lower East Side, East Harlem, Central Harlem and northern Staten Island. We also serve low-moderate income residents in the 5 boroughs of new York City. We provide free ATM banking through 2 large ATM networks in the city - the Co-op ATM network and the Citibank ATM network. Our affordable banking products include savings, checking, money market and CD accounts. In addition, we provide loans and lines of credit for personal, real estate and business purposes. Our small business term loans and business lines of credit help businesses grow and expand, and handle seasonal cash flow needs. Term loans go up to $250,000, and can go for as long as 10 years. Lines of credit go up to $50,000 and can go for as long as 7 years. Start-up loans are available up to $2,500, but may be more depending upon owner's collateral and equity. LES People's also offers advice and training to businesses.


PathStone Enterprise Center


The PathStone Enterprise Center is an affiliate corporation of PathStone, a multi-state community development corporation. PathStone has been providing human, social and development services to individuals and communities since 1969. PathStone Enterprise Center's mission is to enhance the economic self-sufficiency and quality of life of individuals and communities though training, technical assistance and access to financing for new and expanding businesses throughout Upstate New York and Puerto Rico. The Enterprise Center carries out its mission by making loans to small and micro businesses and by accompanying those loans with strong technical assistance designed to support our client's growth. Enterprise Center loans range in size from $1,000 to $250,000 although most loans are in the $20,000 to $50,000 range.

BUSINESS LENDING INFO: Enterprise Center loans range in size from $1,000 to $250,000 although most loans are in the $20,000 to $50,000 range.


Brooklyn Cooperative FCU


Brooklyn Coop serves small businesses in three ways: - Account services: We can open accounts for many types of small businesses, and even for businesses without an EIN yet. - Business loans and lines of credit: Brooklyn Coop is an SBA-approved small business lender and well-known in New York City for our experience with serving local businesses of all sizes. - Tax prep: Brooklyn Coop is the only non-profit providing tax preparation for small businesses and the self-employed.


Who We Are

This is a project developed by the National Federation of Community Development Credit Unions (NFCDCU) to serve the different communities where member credit unions and other Community Development Financial Institutions work.

Its main goal is to ease the process of applying for a small business loan, so small businesses don’t fall into predatory loans that are now widely available online.

We care for our members, therefore we want them to avoid high-interest loans from other online business lenders that might take advantage of their needs.

The NFCDCU encompasses credit unions that serve communities all over the country. Our member credit unions are local, insured, and understand the needs of their customers as well as the needs of their communities. We want to help them succeed in improving the well-being of their communities through a platform that uses technology to optimize processes.

Who We Serve

For now we are launching the CDFI Small Business Lending Network throughout the state of New York. But in the coming year we will be expanding to additional states throughout the country.

Our Impact

1+ Billion

+ Billion
Deployed to encourage the growth of CDFIs

2+ Million

+ Million
Low-income members represented

100+ million

+ million
invested in CDCUs


Serving Communities Around The US

Community Development Financial Institution - Business Lending Network