We're an SBA 504 certified lender that can provide 90% financing throughout New York State. The Business Initiative Corporation of New York (BICNY) was established to promote economic development throughout the Bronx and New York.

Our Mission

The Business Initiative Corporation of New York (BICNY) mission is to support economic development and induce private investments in New York State by providing below-market interest rate loans and long-term capital to the business community. These efforts will result in creating much needed jobs in The Bronx, as well as in the state, by assisting small businesses to grow and expand by acquiring below-market rate loans from the SBA and additional funds from private lenders.

We provide financing to:

Purchase commercial real estate that will be occupied by the business Purchase machinery and equipment to be used by the business Provide leasehold improvements to a property occupied by the business Construct commercial real estate and/or make land improvements Cover soft costs associated with any of the above uses of funds BICNY focuses on all industries and sectors including industrial, commercial, manufacturers and service firms. BICNY also provides loans to businesses in low and moderate-income communities throughout New York State.


BICNY has access to experienced advisers, small business experts, financial lenders and community leaders who work together to help businesses grow. Meet our leadership.

Board of Directors

Sandra Erickson
Sandra Erickson Real Estate
Vice Chair

Jessica Johnson
President Johnson Security Bureau
Board Secretary

Joseph Coleman
President RiteCheck
Board Treasurer

Syed Ashan
Signature Bank
Associate Group Director

Lola Gazivoda
M&T Bank
V.P. of Business & Professional Banking

Dolores Batista
Karma Business Group LLC

Hugh Campbell
Rodman and Campbell, P.C.

Raul Hiraldo
Wells Fargo Bank
Senior Vice President

George E. Grace
G.E. Grace & Company, Inc.

Mark Simshauser
Hitachi Business Finance
Senior Origination Leader