East Harlem Business Capital Corporation

MISSION

The East Harlem Business Capital Corporation, Inc. (EHBCC) is a nonprofit economic development organization incorporated in 1997 in the State ofNew Yorkas a Type C corporation defined in Section 201 and in Section 102 (a) (5). In February 1999, EHBCC received its 501c3 Federal Tax Exemption.

The EHBCC mission is to significantly enhance the economy and commerce ofEast Harlem, to create jobs and help residents, entrepreneurs and small businesses become successful. EHBCC provides access to capital, and sound business development assistance to expand existing businesses, create new enterprises, and to promote economic development and projects that improve the quality of life in East Harlem.

HISTORY

Over the last nine years, EHBCC has made significant progress in establishing itself as a worthy and viable financial and business development institution in East Harlem.

• Community Development Financial Institution Certification. TheU.S. Department of Treasury, Community Development Financial Institutions Fund certified EHBCC as a Community Development Financial Institution (CDFI). EHBCC is the first and only Hispanic based CDFI inEast Harlem
• Upper Manhattan Empowerment Zone Partnership. The Upper Manhattan Empowerment Zone (UMEZ) chose EHBCC to be its Community Partner inEast Harlem
• NYS Empire Zone Administrator Designation. EHBCC was designated as the East Harlem Empire Zone Administrator by the New York City Department of Small Business Services and the New York State Empire State Development Corporation. This designation makes EHBCC the certifying agency for businesses seeking Empire Zone benefits, which include significant wage tax credits, access to financing, sales tax relief and more
• Community Development Enterprise Status. EHBCC has been designated by the US Treasury Department as a CDE (Community Development Enterprise) and is now able to channel Federal New Market Tax Credits
• US Small Business Administration Intermediary Lender. EHBCC applied for and received designation as an Intermediary Lender under the US Small Business Administration’s Micro Loan Program. The program is designed to help small business owners with financing up to $35,000. EHBCC is the only SBA Intermediary Lender, above 14^th Street, inManhattan.

VALUE STATEMENT

We, the associates of EHBCC, are guided by the following statement of Our Values. Our Values are the unifying foundation of our organization. We strive to ensure that every decision we make and action we take demonstrate Our Values. We believe that putting Our Values into practice creates lasting benefits for all of our associates, clients and the communities we serve.

We value ALL EHBCC ASSOCIATES... We treat one another with respect. We recognize the dignity and contributions of each individual and the creativity that results from the diversity of individuals and ideas. We strive to communicate clear expectations to each other as well as how each of us performs. We are committed to an environment of trust, teamwork, challenge and development. We endeavor to communicate with each other in frank, fearless and constructive ways.

We strive to deliver CLIENT SATISFACTION... We have valued clients, whether they are new entrepreneurs, students, existing businesses, or one another. We believe in respecting our clients appreciating their requirements, understanding their expectations and satisfying them with distinction.

We regard our CONSULTANTS and SUPPLIERS as essential team members... We treat our consultants and suppliers with the same respect that we show to our clients and associates. They deserve fair treatment and honest feedback on their performance and products.

We are accountable for the QUALITY of our work... We enthusiastically develop and provide superior programs and services with distinction. We deliver excellence while constantly seeking ways to improve our knowledge, skills and the way we perform our jobs both individually and collectively. Each of us is accountable for the quality of whatever we do.

We demonstrate INTEGRITY in all we do... We are each personally accountable for the highest standards of integrity. We measure our actions not only by what is legal, but by the highest standards of ethics that ensure fair and honorable actions. We are responsible, reliable and truthful.

We provide LEADERSHIP as a company and as individuals... EHBCC's leadership is founded on our dedication to achieving excellence through the loyal efforts of talented and enthusiastic associates. Our continued success requires taking full advantage of the rich backgrounds and abilities of our associates. We embrace change as an opportunity to fulfill our potential. We lead through competence, innovation, teamwork and an eagerness to excel.

We create an environment of FUN and PRIDE... We provide a work environment that challenges each of us to excel in all we do. Yet, we embrace the necessity for also achieving a high level of happiness and fun in all that we do.

We are proud to be a part of EHBCC.

East Harlem Business Capital Corporation provides qualified East Harlem businesses with loans up to $50,000 for:

• Fixed Asset Financing: For the purchase or improvement of real property including: land and building acquisition; leasehold improvements; signage; machinery and equipment.
• Working Capital Financing: For the acquisition of raw materials; payment of fixed and variable expenses; the purchase of new inventory
• Loan and Investment Partnership Financing: For assistance and access to an array of additional loan and investment products in partnership with entities such as the Statewide Zone Capital Corporation, United States Small Business Administration, the Upper Manhattan Empowerment Zone, Seedco, and local banks

EHBCC EXPRESS Loans: In response to demand from small vendors and start-up businesses, the East Harlem Business Capital Corporation has created a mini loan product that lends from $500 - $2,500 to qualified small businesses. These mini loans require less paperwork and are processed much faster.

To date, EHBCC has loaned monies totaling over $1,300,000 to more than 60East Harlembusinesses, 93% of which are minority and /or women-owned enterprises.

The East Harlem Small Business Development Center:

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The East Harlem Business Capital Corporation (EHBCC) has established the first-ever East Harlem Small Business Development Center on the newly renovated third floor of the CitibankEastHarlemBranchBuildingon 116^th Street & First Avenue. Clients have access to all of EHBCC’s products and services, including: training in our one of our two resource rooms that seat from 15-35 participants; one-on-one technical assistance with one of our experienced staff members; and a Computer Lab with 12 work stations, where students receive technology training, can access the internet, or utilize the variety of programs available on each computer. The East Harlem Business Capital Corporation (EHBCC) has its own entrepreneurial training program—the BusinessWise Seminar Series, which is an intense 18 session training program for entrepreneurs, startups, and existing small business owners in East Harlem. <code>BusinessWise participants undergo formal, classroom instruction on subjects such as: marketing; business management; accounting and bookkeeping; insurance; licensing and certification; and financial projections. At the end of the</code> 18 session<code>s, BusinessWise graduates are expected to have produced a business plan. The business plan will include financial projections and a startup budget accurate enough to allow the borrower to apply for financing at EHBCC, if appropriate, or with another financial institution that may entertain applications from startups or recently established businesses.</code> The BusinessCenterkicks off the development process by providing clients (current small business owners and budding entrepreneurs) with technical assistance in a wide variety of subjects. One-on-one counseling covers topics such as: licensing and certification; business plan preparation; business letter writing; accounting and bookkeeping; small business finance; tax related issues; cash flow/inventory management; marketing and promotions; and real estate assistance. <code>EHBCC has always seen the technical assistance program now housed within the Small Business Development Center as logical springboards for clients to make the transition from technical assistance recipient to loan fund borrower.</code>