Dear Friends,
So much good news to share!
Starting next week, restaurants, stores, gyms, salons, and offices will be permitted to reopen at 100% capacity for the first time in 14 months, as New York lifts most state-mandated capacity restrictions and 24-hour subway service will resume. This is very welcome news, especially for small business owners, who are eager and anxious to get back to business.
At Accompany Capital we are now shifting our focus from emergency funds to making sure that our clients have the low-cost capital they need to purchase the inventory or supplies they need to successfully open, as well as the information they need to reopen safely.
Through the work of our terrific Jackson Heights team, for instance, we have received a total of $1,800,000 in grant money through the Queens Small Business Grant Program. As a result, we have been able to provide over 100 storefront businesses and street vendors with individual grants ranging from $850 to $20,000.
Our lending team has been very busy supporting clients with Accompany Capital Loans as well as helping businesses apply for the next round of Paycheck Protection Program (PPP) loans: to date we have made over $4,000,000 in loans this fiscal year. For inquiries, please reach out to our loan team here.
And in April we were delighted to hear that we were one of 33 CDFIs to receive a $2,000,000 investment and a $125,000 grant from the Grow with Google Small Business Fund, which is managed by Opportunity Finance Network (OFN).
Finally, we are excited to welcome Cynthia Rogers as our Director of Finance and Kate Hao as the newest member of the Accompany Capital Board of Directors.
Best regards,
Yanki Tshering
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Queens Small Business Grants Help Queens Reopen
This Spring, Accompany Capital was very pleased to be selected by the Queens Small Business Grant Program as one of six NYC community-based organizations authorized to process applications for grants on behalf of our clients’ and minority-owned small businesses. Launched by Queens Borough President Donovan Richards in partnership with New York City’s Economic Development Program (NYCEDC), it is funded with a generous $17.5 million donation from the Steven and Alexandra Cohen Foundation.
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Immigrant Heritage Week:
Coming Together in Celebration
On April 15th Accompany Capital was delighted to host our 9th annual Immigrant Heritage Week Awards event. Accompany Capital has participated in this city-wide celebration each year since 2011 by honoring exceptional immigrant and refugee clients, as well as thought leaders and innovators. While we had to postpone last year’s awards ceremony – which came as New York and our immigrant communities were bearing the brunt of the devastating effects of the pandemic – we were thrilled that so many people were able to join us this year by Zoom and video for our first virtual awards event.
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Help from Brooklyn Community Foundation's COVID-19 Response Fund
We very pleased that Accompany Capital has again received funding with a grant from Brooklyn Community Foundation's Brooklyn COVID-19 Response Fund initiative. Last year's grant from Brooklyn Community Foundation helped us support our Emergency Fund for NYC Refugee Business Owners and we look forward to being able to help more of our Brooklyn-based business owners affected by COVID-19!
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Take Off Now Business Pitch Event Winners!
On February 24th, Accompany Capital was proud to present the finalists – and two grand prize winners! – in our Take Off Now Business Pitch Competition in a special online event. The virtual awards event featured – and celebrated – the ten women-owned businesses that were selected by the judges from over 150 submissions, based on their ability to successfully innovate during the pandemic, seize new opportunities, and emerge stronger in 2021. The two Grand Prize Winners – Butcher Girls and Balkan Bites – selected by the judges based on the quality of their business plans and short video pitches – took home $10,000 each. Two runners-ups – Eat2Explore and start-up Kosher Kart – received $2,500 each and the six remaining finalists were awarded $1,000 each.
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Accompany Capital Webinars
The New York City Department of Housing Preservation and Development (HPD) established the HomeFirst Down Payment Assistance Program, which provides qualified homebuyers with up to $40,000 toward the down payment or closing costs on a 1-4 family home, a condominium, or a cooperative in one of the five boroughs of New York City.
**This program will be online until further notice, accessible from any device 24 hours a day, 7 days a week**
Discount code: BCNA50
Eligibility Requirements: Click here
For more information, please contact Francess Smith at (212) 898-7850 or [email protected]
This, and several other Accompany Capital Webinars are available on our YouTube channel.
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Our offices are currently open by appointment only |
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----------Accompany Capital Manhattan
---------120 Broadway, Suite 230
---------New York, NY 12071
---------212-898-7850
---------By Subway:
---------A/C/J/Z - Fulton Street
---------2/3/4/5 - Wall Street
---------1 - Rector Street
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----------Accompany Capital Queens
---------347-730-6468
---------By Subway:
---------E/F/M/R - 74th St/Roosevelt Ave.
---------7 - 82nd St. Jackson Heights
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