Creating Opportunities for MWBE Contractors. Innovative Loans and Technical Assistance. Nancy Carin Executive Director, BOC Capital Corp. BOC Capital Corp.’s Mission.
Innovative Loans and Technical Assistance
Executive Director, BOC Capital Corp.
BOC Capital Corp. (BCC) is a not-for-profit Community Development Financial Institution (CDFI) dedicated to providing financing to community businesses.
BCC has a special focus on lending to minority, women, immigrant and low-income entrepreneurs as well as businesses located in low-income neighborhoods.
At FYE 2013, BCC has disbursed over $7.8 million in 573 loans!
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Approval & Release of Funds
Preliminary Loan Application
Application Review & Pre-Approval
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(based on cash flow for the job)
Borrower Submits Payment Request
Borrower Receives Loan from BCC
Borrower Initiates Work on Project
Institution ACHs payment to BCC
Institution or Prime Contractor Approves Payment
BCC Issues Share of Payment to Borrower in Accordance with Payment Agreement
Prime Issues Two-Party Check to BCC and Borrower
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NYCEDC Kick-Start Loans
Provides MWBEs participating on NYCEDC construction projects with the ability to finance their mobilization efforts. These loans are to be utilized to meet long lead equipment, material and/or labor costs related to NYCEDC construction projects. BOC Capital is the lending partner.
NYC Upfront Capital Loan Program
Provides MWBEs participating on NYC-owned contracts from a number of city agencies with the ability to finance their mobilization efforts. BOC Capital and NYBDC are the lending partners.
BOC Capital Mobilization Loans for Institutional and Private Sector Projects
Provides small businesses with contracts with the ability to finance their mobilization efforts, e.g., design manufacturers, engineers, architects, etc.
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3 Construction loans for $208,800 to leverage $1,372,982 in contracts
6 Service based loans for $178,505 to leverage $252,638 in contracts
Over 400% leverage!
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Nancy Carin – Executive Director
Anting Wang – Business Specialist
For more information please e-mail BCC at email@example.com
85 South Oxford St, 2nd FloorBrooklyn, NY 11217tel: 718.624.9115fax: 718.246.1881
96-11 40th Road Ground FloorCorona, NY 11368 tel.: 718-205-3773 fax: 718-205-3774
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