FOR IMMEDIATE RELEASE
Thursday, October 16, 2025

SBS CELEBRATES SECOND ANNIVERSARY OF NYC FUNDS FINDER ONLINE FINANCIAL MARKETPLACE, EXPANSION TO INCLUDE NEW NYC FUTURE FUND

Since its Launch, NYC Funds Finder Has Disbursed $3 Million in Loans, Support to More Than 9,000 Small Businesses

Innovative Online Marketplace Will Now Include Access to Flexible Loans through NYC Future Fund

NEW YORK – Today, New York City Department of Small Business Services (SBS) Commissioner Dynishal Gross celebrated the two-year anniversary of the NYC Funds Finder online marketplace. NYC Funds Finder is a first-of-its-kind online marketplace for small business loans and grants, made in partnership with Next Street and with the support of the Mastercard Center for Inclusive Growth and Kresge Foundation. Since its launch in September 2023, the marketplace has facilitated the disbursement of nearly $3 million in capital to businesses citywide, with 72 percent of financing recipients identifying as members of BIPOC communities, and 52 percent as women, with a median loan size of $25,000. Lenders and grant providers include state, local, and federal programs, credit unions, Community Development Financial Institutions (CDFIs), and traditional banks.

Starting October 16, 2025, NYC Funds Finder will be expanded to include the new NYC Future Fund, the city's first-ever revenue-based loan program for small businesses, designed to help businesses weather fluctuations in revenue throughout the year and boost their growth. The program will facilitate better cash flow management with repayment terms that are adjusted based on seasonal changes in small business revenue.

"Access to affordable financing remains one of the biggest barriers to success faced by small business owners across New York City," said SBS Commissioner Dynishal Gross. "Two years into our partnership with Next Street, I'm proud of how much we've done to tear that barrier down, and excited for how much more progress we will make through both the My Business Finance Coach and the NYC Future Fund. By ensuring every New Yorker has access to everything from loans with flexible terms, revenue-based financing, financing from nontraditional lenders, and free coaching and consultations, we are not just leveling the playing field for our small businesses – we are seeding the next generation of our city's entrepreneurs."

"It's inspiring to be part of the work SBS is doing in helping to provide access to responsible capital to small businesses," said Donald Jones, Chief Growth Officer, Next Street. "We are grateful to all the financing advisors and funders who have been with us on this journey. In year two we saw tremendous growth on the platform from strategic investments to new services such as My Business Finance Coach. As we enter our third year, we're programming our first-ever small business live event in October, continuing our marketing investments and updating the site and user experience to meet the needs of the city's diverse small businesses."

"As a founding funder of NYC Funds Finder, it's been incredible to see the impact of the platform in New York City," said Sandy Fernandez, Vice President for Social Impact for North America at the Mastercard Center for Inclusive Growth. "NYC Funds Finder highlights the importance of developing the right services and solutions for small businesses and in this case, connecting them to affordable capital, expert advisors, and resources can make a difference."

"This has been the greatest experience my business has had," said Wilfredo Soto, owner of Netcloud Experts. "I needed funds for payroll and for advertising and to increase the numbers of proposal bids I am able to submit for city contracts. With this funding I am able to submit two to three a month. These bids range from $500,000 to $1 million – I just need 1 per year."

Since September 2023, more than 9,000 unique users have registered with the NYC Funds Finder platform and more than 2,000 small business owners have scheduled one-on-one consultations with SBS advisors. Since 2022, SBS has facilitated more than $325 million in financing assistance to New York's small business community, including $85 million through the historic NYC Small Business Opportunity Fund.

Additionally, more than 300 New Yorkers have used the NYC Funds Finder platform to schedule private consultations with accounting professionals through the My Business Finance Coach pilot program, created to help new entrepreneurs navigate the world of small business financing. The program connects New York City small business owners with accounting experts via virtual, one-hour sessions to help them build a strong financial foundation ranging from guidance on taxes and QuickBooks® to developing financial projections.

"Small businesses are the lifeblood of the Queens economy, but these businesses cannot thrive without access to capital," said Queens Borough President Donovan Richards Jr. "NYC Funds Finder is critically important to small businesses because it helps them find the capital they need to grow and prosper. I salute NYC Funds Finder on its two years of successful service to the small business community, and I wish nothing but the best for all those businesses that are benefitting from this vital resource."

"Small businesses are the lifeblood of our neighborhoods. The expansion of NYC Funds Finder to include the NYC Future Fund not only increases access to capital, but also embeds flexibility, equity, and responsiveness into the financial system itself. Revenue-based lending adapts to real-world ups and downs, helping entrepreneurs weather uncertainty rather than be crushed by it," said New York City Council Majority Leader Amanda Farías. "I applaud SBS, Next Street, and all our public and philanthropic partners for this bold step. I'm also proud to be working on my bill, Intro 1350, which takes this effort further by providing small business loan readiness resources and high-quality technical assistance to improve entrepreneurs' chances of securing capital. Together, we're ensuring that every New Yorker — from the Bronx, and Manhattan to the outer boroughs — has the tools to launch, grow, and sustain a small business that contributes to our city's future."

"Small businesses are the life of this city and small business owners are sacrificing so much to make this city vibrant. I'm grateful this city has created ways to ensure businesses receive every service they can to thrive," said New York City Council Member Susan Zhuang.

About NYC Funds Finder
Made in partnership with Next Street and with the support of the Mastercard Center for Inclusive Growth and Kresge Foundation, the NYC Funds Finder is a free first-of-its-kind online marketplace for small businesses to connect with loans, grants, and request free 1-on-1 financing assistance from SBS advisors. Lenders and grant providers include state, local, and federal programs, credit unions, CDFIs, and traditional banks.

About Next Street
For more than 20 years, corporations, governments, and philanthropies have hired Next Street to strengthen the small businesses they rely on. As a firm, Next Street provides end-to-end solutions — from ecosystem assessments and strategies to resource platforms and accelerators — for their clients to propel the small businesses in their communities and supply chains. Next Street solutions ultimately help small businesses, whether they are solo entrepreneurs or advanced suppliers, to unlock new revenue, build wealth, and reinvest in their communities.

About the Department of Small Business Services (SBS)
SBS helps unlock economic potential and create economic security for all New Yorkers by connecting New Yorkers to good jobs, creating stronger businesses, and building vibrant neighborhoods across the five boroughs. For more information, visit nyc.gov/sbs, call 311, and follow us on Facebook, X (Twitter), Instagram, and LinkedIn.