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BOC CAPITAL CORP
BROOKLYN, NY · EIN 113596666 · Form 990 · FY2024 · Medium ($1M-$10M) · boccapital.org
revenue
$7.1M
expenses
$3.8M
net assets
$21.2M
employees
0
volunteers
15
program ratio
85%
mission · from form 990

TO PROMOTE EMPLOYMENT AND BUSINESS DEVELOPMENT IN ECONOMICALLY DISTRESSED AREAS.

profile · synthesized from sources

Community development financial institution providing financing, business counseling, and training to small businesses in economically distressed areas. Offers SBA-backed and customized loan programs, with a focus on government contract financing and support for underrepresented entrepreneurs. Operates as a 501(c)(3) nonprofit in New York City.

named programs · 10 · from sources

What they call their work

BOC Women’s Business Center (WBC)
Provides business training, counseling, and financing resources to women entrepreneurs in Brooklyn and Staten Island.
Community Economic Development (CED) Revolving Loan Fund
Offers loans from $25,000 to $75,000 for equipment and working capital to businesses supporting community development and job creation.
Construct NYC
NYCEDC-sponsored program providing technical training and qualification for small-to-medium firms to bid on government projects.
Contract Financing Loan Fund
Provides customized loans up to $500,000 at 3% APR for businesses with NYC agency or NYCEDC contracts to cover mobilization and cash flow needs.
Empire State Development Small Business Revolving Loan Fund (SBRLF)
Provides up to $125,000 in financing for small businesses with difficulty accessing credit markets; funds cover up to 50% of loan principal.
Manhattan Minority Business Development Agency (MBDA)
Connects minority-owned businesses with contracts, capital, and strategic consultation opportunities.
NYS Business Growth Accelerator (BGA)
Specialized training and counseling program for construction, architecture, engineering, and food services firms to accelerate growth and job creation.
SBA Community Advantage Loan Program
Offers federally guaranteed term loans of $50,000 to $250,000 to small businesses unable to secure financing from traditional lenders.
SBA Microloan Program
Provides term loans of $500 to $50,000 to small businesses and nonprofit childcare centers for start-up and expansion costs including working capital, inventory, and equipment.
WE Master Money: Funding
Workshop helping entrepreneurs understand capital planning and access non-traditional funding sources.
activities · 7 groups

What they do

  • Small Business and Nonprofit Lending 3 activities
    • Administers state and local government loan funds for underserved businesses
      Manages Empire State Development Small Business Revolving Loan Fund (SBRLF) loans of up to $125,000 or 50% of project cost, and Community Economic Development (CED) Revolving Loan Fund loans between $25,000 and $75,000 for equipment and working capital, targeting underserved and mission-aligned small businesses.
    • Offers contract and purchase-order financing for small businesses
      Provides short-term loans to cover labor, materials, and equipment costs for businesses fulfilling construction, service, and purchase-order contracts, including customized financing up to $500,000 for businesses with contracts from New York City agencies or NYCEDC.
    • Provides microloans and small business financing through SBA programs
      Offers SBA Microloan Program term loans ranging from $500 to $50,000 to small businesses and qualifying not-for-profit childcare centers, and provides SBA Community Advantage loans from $50,000 to $250,000 for businesses facing challenges accessing traditional financing.
  • Small Business Technical Assistance 2 activities
    • Conducts workshops on capital planning and alternative funding sources
      Delivers WE Master Money: Funding workshops to educate entrepreneurs on capital planning and accessing non-traditional funding sources.
    • Delivers business counseling and loan readiness training
      Provides one-on-one counseling, credit evaluation and repair services, customized credit action plans, and loan readiness education to improve small business owners’ access to financing and lender approval chances.
  • Non-Discrimination Compliance and Access Assurance 1 activity
    • Implements non-discriminatory lending policies
      Applies a non-discriminatory lending policy across all stages of lending operations to ensure equitable access to capital.
  • Organizational Sustainability Management 1 activity
    • Offers financial management and bookkeeping advisory services
      Provides financial management advisory services including cash flow management, bookkeeping best practices, and training in the preparation of core financial statements such as income statements, balance sheets, and cash flow statements.
  • Regional Economic Development Initiatives 1 activity
    • Promotes employment and business development in distressed communities
      Supports economic revitalization by promoting employment and business development in economically distressed areas through targeted financial and technical assistance.
  • MWBE Certification and Contract Access Support 1 activity
    • Provides technical training for government contracting readiness
      Implements ConstructNYC, a program that delivers technical and construction concept training to prepare small-to-medium firms to qualify for and bid on New York City Economic Development Corporation government projects.
  • Startup Acceleration & Business Growth Support 1 activity
    • Runs sector-specific business growth accelerator programs
      Operates the NYS Business Growth Accelerator, delivering cohort-based training and one-on-one counseling to small businesses in construction, architecture, engineering, and food services to accelerate growth and job creation.
financials · form 990 · fy2024
revenue
Total revenue$7.10M
Contributions & grants$3.87M55%
Program service revenue$2.98M42%
Investment income$252K4%
Other revenue$0
expenses
Total expenses$3.82M
Program expenses85%
Admin / overhead15%
Fundraising0%
Salaries & benefits$2.54M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$40.10M
Cash$19.31M
Investments$0
Liabilities$18.91M
Net assets$21.19M
Liquid reserves60.7 mo
6 years on record · 2019–2024 · YoY revenue +34.3%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 7
NameTitleHours/wkCompensation
NANCY CARIN Executive Dir. 12 $285K
RODNEY SANTIAGO DIr. of Lending 17 $223K
ELENA ZIKUSS CFO 9 $211K
ALEXANDR MESONZHNIK SR account manager 7 $137K
LAUREN EVANS sr program manager 34 $126K
RYAN WIDENHOUSE MANAGER OF LENDING 19 $125K
JEAN TANLER Program director 15 $117K
board members · 12
  • BIJAL N VIRA — Director
  • DANIEL LIU — Director
  • DAVID ACEVEDO — Director
  • EILEEN V THORNTON — Director
  • Erika Wesley — Director
  • GREGORY J LIBERTINY — Chairman
  • John Rooney — Director
  • KUNAL VERMA — Treasurer
  • LESLIE WINTER — Board Emeritus
  • MICHAEL MUELLER — Secretary
  • WALTER SWEET — Director
  • Yiye Charles Zhou — Director
relationships · 11

Who they work with

  • BOC Network Network — Network through which BOC Capital supports affiliated programs such as Bronx BPE, NYS BGA, WE Master Money, WBC, and Manhattan MBDA.
  • Business Outreach Center Network Partner — Collaborates with BOC Capital Corp. to offer the Community Economic Development (CED) Revolving Loan Fund.
  • CDFI Fund Government — Federal entity overseeing non-discrimination compliance for organizations receiving federal financial assistance.
  • Columbia University Facilities & Operations Partner — Collaborates with BOC Network on the Ascend New York City program, supporting the Bronx BOC Business Peer Exchange.
  • Empire State Development Government — Sponsors the Small Business Revolving Loan Fund administered by BOC Capital Corp.
  • JP Morgan Chase Foundation Funder — Sponsor of the Ascend New York City program, which supports the Bronx BOC Business Peer Exchange.
  • Manhattan Minority Business Development Agency Partner — Agency operated by BOC Network that connects minority-owned businesses with contracts, capital, and strategic consultation.
  • NYC Department of Small Business Services Partner — Partners with BOC Capital Corp. to offer contract financing loans for businesses performing on New York City contracts.
  • NYC Economic Development Corporation Government — Co-funder of the Contract Financing Loan Fund and contracting partner for eligible businesses supported by BOC Capital Corp.
  • NYC Small Business Services Government — Funds the Contract Financing Loan Fund in partnership with BOC Capital Corp.
  • New York City Economic Development Corporation Government — Sponsor of the ConstructNYC program, which BOC Capital implements.
strategies · 5

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Alternative Contract Financing for Small Contractors
    methodology: alternative-lending-for-small-contractors
    By offering contract-backed financing to small-scale contractors excluded from traditional lending, we meet short-term capital needs and enable contract fulfillment because access to affordable, short-term liquidity allows underserved businesses to grow and stabilize.
  • Equitable Access Lending Framework
    methodology: equitable_access_lending
    By proactively removing systemic barriers related to race, gender, disability, and other protected characteristics, we expand economic opportunity and lending inclusion because equitable access to capital drives more representative and resilient local economies.
  • Integrated Capital and Counseling Model
    methodology: integrated-capital-and-counseling
    By combining financing with business counseling and training, we produce more sustainable and scalable community-based small businesses because access to capital alone is insufficient without capacity-building support.
  • Mission-Aligned and Underserved Market Lending
    methodology: mission-aligned-lending
    By targeting small businesses excluded from traditional credit markets and prioritizing those aligned with community development and job creation goals, we strengthen local economic ecosystems because capital directed toward mission-aligned enterprises generates both financial and social returns.
  • Readiness-Based Capital Matching System
    methodology: readiness-based-capital-matching
    By assessing a business owner’s financing readiness before connecting them to capital or advisory services, we improve loan outcomes and business sustainability because aligning financial resources with client capacity reduces risk and increases long-term success.