The Brooklyn Fund: cheap loans to fund your crazy business dream

Is a loan all that's holding you back from being the next Bedford Cheese Shop? (via flickr user A.J. Candy) — Is a loan all that’s holding you back from being the next Bedford Cheese Shop? (via flickr user A.J. Candy)

If you’ve been sitting on a brilliant plan for a bike-thru craft beer bar ‘n shop for the past couple of years (RIGHT THOUGH??), maybe now’s the time to get it off the ground. Today, the Brooklyn Chamber of Commerce announced they’re launching something called “The Brooklyn Fund” with the New York Business Development Corporation, and it’s designed to help small business owners in the borough get better loans. Get your bikes and growlers ready, folks, BECAUSE THIS CHICK’S GETTING A LOAN.

Bike ‘n Beer’s future aside, though, the Brooklyn Fund sounds pretty sweet: the Brooklyn Chamber and NYBDC have $10 million to hand out small dollar loans to local business owners. Plus, they’ve set aside some cash for something called the Brooklyn Immigrant Fund, which will specifically provide loans for foreign-born Brooklynites. Loans can go as high as $350,000, with low interest rates hovering around six to eight percent, so the borrowed money won’t latch on to your debt count and follow you around taunting you and your bank account like that cruel, cruel Sallie Mae. You can also check out NYDBC’s website for more tips on launching, growing and funding a business, and you can meet with someone from the organization in person at their 9 Bond Street headquarters in Downtown Brooklyn if you need some firsthand advice. Just don’t let them talk you out of your dream, no matter how much it relies on combining casual alcohol abuse and cycling.