named programs · 3 · from sources
What they call their work
Annual Bankers Breakfast
Networking event connecting small businesses with bankers and financial institutions to facilitate lending and business growth in the Bronx.
SBA 504 Loan Program
Provides long-term, fixed-rate financing for small businesses to purchase real estate, major equipment, and fund capital improvements, structured with private lenders and SBA backing.
SBA 7(a) Community Advantage Loan
Offers loans up to $350,000 for working capital, inventory, equipment, and debt refinancing, primarily to businesses in the Bronx.
activities · 2 groups
What they do
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Small Business and Nonprofit Lending 3 activities
- Administers SBA 504 and Community Advantage loan programs for small businessesProvides financing through SBA 504 and 7(a) Community Advantage loan programs to small businesses in New York State, supporting the purchase of commercial real estate, major fixed assets, equipment, and working capital. Coordinates loan packages involving private lenders and the U.S. Small Business Administration, including during government shutdowns.
- Funds and leverages capital for small business growth and job creationHas provided over $139 million in loans to businesses in the Bronx and across New York State, leveraging over $409 million in additional investment from banks and private equity, resulting in the retention and creation of over 2,200 jobs as of September 2022.
- Offers below-market interest rate and long-term capital financing to support economic developmentProvides below-market interest rate loans and long-term capital to small businesses in New York State to support private investment and economic development, including through down payment assistance and financing for construction, leasehold improvements, and capital improvements.
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Startup Acceleration & Business Growth Support 1 activity
- Builds capacity for entrepreneurs to launch and scale creative venturesSupports individuals in launching businesses, turning hobbies into ventures, or sharing creative projects by emphasizing the importance of online storytelling and entrepreneurial development.
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financials · form 990 · fy2023
revenue
Total revenue$592K
Contributions & grants$58K10%
Program service revenue$525K89%
Investment income$10K2%
Other revenue$0
expenses
Total expenses$770K
Program expenses80%
Admin / overhead17%
Fundraising3%
Salaries & benefits$345K
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$788K
Cash$148K
Investments$0
Liabilities$546K
Net assets$242K
Liquid reserves2.3 mo
5 years on record · 2019–2023 · YoY revenue +13.1%
leadership · form 990 part vii · fy2023
Who runs it
paid leadership · 1
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| Rafael Roger | President | 40 | $157K |
board members · 17
- Anthony Mormile — DIRECTOR
- Byron Logan — Director
- Carlos M Santana — Director
- Deodat Singh — Director
- Dolores Batista — DIRECTOR
- Gustavo Buitrago — DIRECTOR
- Hugh Campbell — DIRECTOR
- James Lanfranchi — Board Chairman/DIRECTOR
- Jessica Johnson — Secretary/DIRECTOR
- Joseph Coleman — Treasurer/Director
- Lola Gazivoda — DIRECTOR
- Mark Simshauer — Director
- Ralph Bumbaca — DIRECTOR
- Robert Walsh — Director
- Rosa Diaz — Director
- Sandra Erickson — Vice Chair/DIRECTOR
- Syed Ahsan — DIRECTOR
relationships · 30
Who they work with
- Allied Affiliated Funding, Axiom Banking Partner — Board member Mark Simshauser is Senior Vice-President - Northeast U.S. at Allied Affiliated Funding, Axiom Banking
- Allstate/Karma Business Group LLC Partner — Board member Dolores Batista is President of Allstate/Karma Business Group LLC
- BXEDC Partner — Board member Winston Peters is President of BXEDC
- Bank of America Partner — Board member Carlos Santana is Vice President, Relationship Manager – Business Banking at Bank of America
- Bota Consulting Group Partner — Board member Lola Gazivoda is Founder and CEO of Bota Consulting Group
- Bronx Borough President's Office Partner — Partners with BICNY on economic development initiatives to grow the small business community in the Bronx.
- Bronx Economic Development Corporation Partner — BICNY is the SBA lending arm of the Bronx Economic Development Corporation (BXEDC).
- Bronx Economic Development Corporation Partner — Collaborates with BICNY to create loan and grant opportunities for businesses in the Bronx.
- Bronx Economic Development Corporation Partner — Collaborates with BICNY to provide commercial development loans to small businesses.
- Bronx Economic Development Corporation (BXEDC) Partner — Partnered to announce a $10 million loan program for Bronx businesses.
- Citizens Bank Partner — Board member Syed Ahsan is Associate Group Director at Citizens Bank
- Deodat S. Singh CPA Partner — Board member Deodat Singh is a certified public accountant operating under Deodat S. Singh CPA
- Flushing Bank Partner — Board member Gustavo Buitrago is Senior Vice-President at Flushing Bank
- JP Morgan Chase & Co Partner — Board member Rosie Diaz is Business Banking Area Manager at JP Morgan Chase & Co
- Johnson Security Bureau Partner — Board member Jessica Johnson is President of Johnson Security Bureau
- M&T Bank Partner — Board member Byron Logan is Assistant Vice President at M&T Bank
- Orange Trust Bank Partner — Board member Anthony Mormile is First Senior VP & Senior Commercial Loan Officer at Orange Trust Bank
- Ponce Bank Partner — Partner bank that collaborates with BICNY to provide financing to small businesses.
- RiteCheck Partner — Board member Joseph Coleman is President of RiteCheck
- Rodman & Campbell, P.C. Partner — Board member Hugh Campbell is Partner at Rodman & Campbell, P.C.
- SBA Government — Works with the SBA in administering 504 loan programs and adheres to SBA standards and terms.
- SBA Government — Works with the Small Business Administration to facilitate 504 loan approvals and maintain compliance with SBA standards.
- Sandra Erickson Real Estate Partner — Board member Sandra Erickson is President of Sandra Erickson Real Estate
- TD Bank Partner — Board member Ralph Bumbaca is New York City Market President at TD Bank
- U.S. Small Business Administration Government — BICNY partners with the U.S. Small Business Administration to administer SBA 504 and 7(a) loan programs.
- U.S. Small Business Administration Government — Partner in administering SBA 504 and 7(a) loan programs to finance small businesses in New York State.
- U.S. Small Business Administration Government — SBA is the federal agency with which BICNY partners to provide SBA 504 and Community Advantage loans; BICNY is the SBA lending arm of BXEDC and was designated a Small Business Lending Company by the SBA.
- U.S. Small Business Administration Partner — Collaborates with the SBA to provide financing to businesses in the Bronx and New York State.
- United States Small Business Administration Government — Certifies BICNY as a Small Business Lending Company and collaborates on SBA 504 and Community Advantage loan programs.
- Webster Bank Partner — Board member Jim Lanfranchi is Senior Vice-President at Webster Bank
strategies · 3
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.
- Community-Based Lending for Economic Developmentmethodology: community-based_lendingBy providing long-term, localized small business lending focused on underserved communities, particularly the Bronx, we stimulate job creation and community revitalization because proximity and cultural understanding improve loan relevance and economic impact.
- Public-Private Financing Partnerships to Expand Capital Accessmethodology: public-private_financing_partnershipBy partnering with public and private financial entities, we increase access to capital for small businesses because blended financing structures de-risk investments and mobilize larger pools of capital for underserved markets.
- SBA-Backed Loan Structuring to Ensure Continuity and Eligibilitymethodology: sba-504-loan-programBy using SBA 504 and 7(a) loan programs and structuring bridge financing to preserve SBA eligibility, we ensure uninterrupted access to capital for small businesses, because adherence to federal standards enables long-term stability and scalability even during economic or governmental disruptions.