Seedco Financial in New York

Seedco Financial, headquartered in New York City, works with local partners throughout the five boroughs.

Seedco Financial Lending Products

• Anchor Loans that generate investment, stimulate economic development, and create jobs in low-income communities through loans exceeding $1.5 million. Typically, Seedco Financial attempts to coordinate Anchor loans with New Markets Tax Credit allocations and other economic development financial mechanisms for large-scale projects with a minimum size of $1 million.
• Mid-level commercial and facilities development undertaken by nonprofit community-based lending organizations, human services faith- and community-based organizations, and non- and for-profit real estate developers to benefit our targeted low-income communities and their residents. Seedco Financial offers loans in amounts ranging from $200,000 to $1.5 million.
• Small business lending products for businesses suffering from a lack of access to affordable capital or that do not qualify for traditional sources of lending and are located in target low-income communities. Seedco Financial offers financing to small businesses in amounts of $25,000 to $200,000.
• Micro businesses that are disconnected from mainstream financing and typically, locally-owned with few employees. Loans to micro businesses are up to $25,000.

Seedco Financial's primary mission has been and continues to be to apply its financial and technical assistance resources to the revitalization of disadvantaged communities. Following the World Trade Center disaster, Seedco Financial saw the parallels between the struggles of these communities and the plight of small businesses in lower Manhattan. With the encouragement from the public and private sectors, Seedco and its partners immediately crafted a package of services that during the course of the nearly three-year program gave out more than $34 million in loans and grants and saved more than 6,000 jobs.

Both the speed with which these services were offered and the innovative package of help available provided a blueprint for future work. One of the most important lessons learned from this highly successful venture, was that we were able to maximize our impact when we concentrated our lending and technical assistance resources either within a geographic area or an industry or sector. The following examples illustrate how this strategy is being implemented in New York City.

• New York City Human Services Loan Fund—financing for nonprofits for cash flow, real estate development, and program development activities.
• New York City ArtBusiness Initiative—helping small arts related nonprofit and for profit businesses to improve their bottom line through debt financing and technical assistance.
• New York City Energy Conservation Initiative—supporting up front expenditures to increase energy efficiency and reduce long-term costs.

• Small Business Lending in Lower and Upper Manhattan especially in conjunction with the Seedco-managed Business Solutions Centers.
• Small Business Lending in conjunction with anchor developments in the South Bronx, East Harlem, East Williamsburg, Sunset Park, and Long Island City.