Your $1 donation = $6 in microloans
Donations to the Business Center for New Americans loan fund are multiplied six times! That means that every dollar you donate provides 6 dollars in microloans to a New York City entrepreneur.
How does it work? BCNA's main source of loan funds is the Small Business Administration (SBA), which provides low-interest loans. However, for each dollar borrowed from the SBA, a 15% Loan Loss Reserve is required from non-federal sources. This means that a contribution of $15 frees up $100 in loan funds for our clients - in effect, multiplying the impact of your donation six times. And as each loan is repaid, your money is still at work, freeing up money for new additional loans.
Your contribution, whether small or large, will help NYC entrepreneurs now and in the future.
