Frequently Requested Programs
Relocation & Employment Assistance Program (REAP) Dept. of Finance
REAP provides tax credit of up to $3000 per employee per year for businesses relocating to eligible area. Improvements to relocation premises are required.
Energy Cost Savings Program (ECSP) Dept. of Small Business Services
ECSP reduces the delivery component of utility bill for up to 45 percent for electricity and 35 percent for natural gas. Businesses must (1) relocate to, (2) make improvements to property in, or (3) lease space previously improved buildings in qualified areas.
Commercial Expansion Program (CEP) Dept. of Finance
CEP provides rent abatement of up to $2.50 per square foot on new, renewal, and expansion leases in eligible areas. The program has a term of up to five years for commercial businesses and ten years for industrial businesses. Improvements to premises are required.
7(a) Loan Program Small Business Administration
Participating lenders provide loans of up to $5 million that are partially guaranteed by SBA to small businesses. Businesses apply directly to the lender for financing.
For more information, programs, and assistance, or a FREE evaluation, please contact our Business Assistance Team:
Charles Yu | Director of Business Assistance
CYu@licpartnership.org, 718-786-5300 x25
Ted Baptiste | Manager of Business Assistance
TBaptiste@licpartnership.org, 718-786-5300 x32