Starting or running a small business in New York City is one of the most demanding challenges a person can take on. Between permits, regulations, rent, and competition, it can feel like the system is stacked against you. But there’s a full ecosystem of free city and state support that most small business owners have never tapped into — and right now, there’s a $150 million loan fund specifically designed to help businesses like yours access capital. Here’s how to use it.
Who This Helps
This guide is for anyone who owns, operates, or wants to open a small business in New York City — whether you’re a food cart operator trying to navigate permits, a salon owner looking for working capital, an immigrant entrepreneur opening your first storefront, or a startup founder trying to figure out what licenses you actually need. If your business has fewer than 100 employees and less than $5 million in annual revenue, most of these programs are built for you.
Start Here: NYC Small Business Services (SBS)
The NYC Department of Small Business Services (SBS) is your single best free resource in the city. They offer no-cost business counseling, workshops, permit assistance, and connections to financing — all at no charge. SBS Business Solutions Centers are located in all five boroughs.
What SBS offers: Free one-on-one business counseling, FastTrac entrepreneurship bootcamps (multi-session free courses), BE NYC and WE NYC programs for Black entrepreneurs and women-owned businesses, licensing and permit help specific to your industry, and workforce solutions for hiring and training.
How to reach SBS:
Phone: 888-SBS-4NYC (888-727-4692)
Website: nyc.gov/sbs
Business Wizard: nyc-business.nyc.gov/nycbusiness/wizard
Or call 311 and ask for Small Business Services
The NYC Business Wizard: Know Before You Go
Before you open your doors, you need to know what licenses and permits apply to your specific business. New York City has no single general business license — requirements vary by industry, borough, and what you’re actually selling or doing. The NYC Business Wizard at nyc-business.nyc.gov/nycbusiness/wizard asks you about your business type and location, then generates a personalized checklist of every city, state, and federal permit you’ll need. It takes about 10 minutes and can save you weeks of back-and-forth with agencies.
NYC licenses nearly 45,000 businesses across more than 40 industries through the Department of Consumer and Worker Protection (DCWP). Apply for DCWP licenses online at nyc.gov/site/dca/businesses/licenses-apply.page.
New York Forward Loan Fund 2: Up to $150,000 for Small Businesses
The New York Forward Loan Fund 2 is a $150 million state program providing flexible, affordable working capital loans to small businesses and nonprofits — with a focus on low-income communities and historically underbanked businesses.
Loan details: Loans up to $150,000 at affordable fixed interest rates. Funds can be used for payroll, marketing, inventory, renovations, and more. Free advisory support is included even if you don’t currently qualify for a loan.
Eligibility: Fewer than 100 employees and less than $5 million in gross annual revenue. Open to small businesses and nonprofits in New York State.
Lending partners include: Accion Opportunity Fund, Ascendus, NDC Community Impact Loan Fund, Pursuit, and TruFund Financial Services.
How to apply: Pre-apply at NYLoanFund.com. If you don’t qualify immediately, program advisors through New York’s SBDCs and Entrepreneurship Assistance Centers can help you become loan-ready.
Federal and Other Funding Sources
SBA Microloans: The U.S. Small Business Administration’s Microloan Program provides loans up to $50,000 through nonprofit lenders for working capital, equipment, and supplies — ideal for early-stage businesses. Contact the NYC SBA District Office at 212-264-4354 or visit sba.gov.
SBA 7(a) Loans: The SBA’s primary guarantee program provides up to $5 million for working capital, equipment, real estate, and business expansion. The SBA guarantees loans made by banks and credit unions, making it easier to qualify. Visit sba.gov/funding-programs/loans.
Small BID Support Grants: NYC SBS awards grants up to $100,000 to Business Improvement Districts for staffing and commercial revitalization projects. Learn more at nyc.gov/site/sbs.
SCORE NYC Free Mentoring: Free mentoring from experienced business executives and low-cost workshops. Visit newyorkcity.score.org.
Brooklyn Public Library Business Center: Free business databases, one-on-one counseling, and workshops open to any NYC resident. Visit bklynlibrary.org/business/small-business.
How to Take Action
- Use the NYC Business Wizard at nyc-business.nyc.gov/nycbusiness/wizard to generate your personalized permit checklist (10 minutes, free).
- Call SBS at 888-SBS-4NYC (888-727-4692) to schedule a free business counseling appointment at your nearest Business Solutions Center.
- Pre-apply for the NY Forward Loan Fund 2 at NYLoanFund.com if you need working capital up to $150,000.
- Apply for DCWP licenses online at nyc.gov/site/dca/businesses/licenses-apply.page.
- Contact the SBA NYC District Office at 212-264-4354 or visit sba.gov for federal loan programs.
- Call 311 anytime for general small business questions — operators can connect you to the right city agency.
Running a small business in NYC is hard. But you don’t have to navigate the bureaucracy alone — and you definitely shouldn’t be paying for help that the city is already offering for free.
