Brooklyn Chamber of Commerce receives $125,000 in new funding

The Brooklyn Chamber of Commerce announced new funding from the federal government Tuesday. Approximately $125,000 will go towards Micro Loan funding to help small businesses and will particularly focus on those owned by minorities and women.

News 12 Staff

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Feb 11, 2020, 10:44 PM

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Updated 1,534 days ago

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The Brooklyn Chamber of Commerce announced new funding from the federal government Tuesday. Approximately $125,000 will go towards Micro Loan funding to help small businesses and will particularly focus on those owned by minorities and women.

The BCOC President Randy Peers says they want to make sure entrepreneurs in underserved communities can still grow their business.

Amber Lasciak, of Redu NYC, says it might have not been possible back in 2012 right after Superstorm Sandy. "We were in serious crisis, everything was destroyed, everything had to be thrown away," said Lasciak.

Redu NYC rescues materials that are being thrown away and uses them to make home furniture. Lasciak says she was able to receive a $5,000 loan through the chamber's Community Development Financial Institution and Brooklyn Alliance Capital.

"When you're in that situation and you apply for a loan and don't get it, and apply for another loan and don't get it, and then somebody comes through its like a miracle," said Lasciak.

The MicroLoan funds will be for Brooklyn-based companies and will range from $500 up to $25,000.