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BOC Capital loans: contract financing and loan sizes in New York City
By Solomon Wiesen, editor. Updated October 2026. Editorial standards | How this site is funded
BOC Capital Corp. is the loan program of the BOC Network, which is headquartered on South Oxford Street in Brooklyn and runs business outreach centers in four boroughs. It lends from $500 to $250,000, and up to $500,000 when the loan is tied to a New York City agency contract or purchase order. It does not publish interest rates: its program page says only that rates vary. It lends to small businesses for working capital, equipment and contract work, and it is a named lender in two New York State programs.
BOC Capital loan sizes by product
Published loan ranges, October 2026. BOC does not publish rates, so ask for them in writing.
BOC Capital’s loan products
All figures below come from BOC’s own BOC Capital page as of October 2026. BOC Capital’s separate site, boccapital.org, may carry more detail than the network page.
| Product | Size | Rate | Term | Fees | What it’s for |
|---|---|---|---|---|---|
| Order-based loan | $1,000 to $250,000; up to $500,000 on NYC agency contracts or purchase orders | Not published | Not published | Not published | Production for purchase orders or contracted services |
| Short-term loan | $500 to $50,000 | Not published | Under 1 year | Not published | A specific business purpose |
| Long-term loan | $1,000 to $250,000 | Not published | 1 to 7 years | Not published | Equipment and working capital |
If a bank, agency or other microlender fits you better, BOC says it will refer you and help with that application.
Contract and purchase order financing
For contractors and suppliers, this is the product to ask about. The order-based loan pays for the labor and materials needed to deliver on a contract before the customer pays. On a city agency contract or purchase order the ceiling doubles to $500,000. BOC’s page does not say how repayment is structured, what share of the contract it will advance, or whether it takes an assignment of contract payments, so ask those three questions on the first call.
BOC Capital is also a participating lender in the New York State Contractor Financing Program, which Empire State Development backs with $37 million in loan loss reserves. Under that program:
- Borrowers are contractors with revenue up to about $5 million and fewer than 100 employees, working as prime or sub on a New York project funded at least in part by a state agency, city, county, school district or other public body.
- Lenders typically go up to $500,000, as lines of credit, with terms tied to the contract and generally under 18 months.
- It cannot refinance existing debt, so it will not pay off an advance you already have.
- Each lender sets its own rate and fees.
ESD lists BOC Capital as serving the whole state, with a commercial lending contact at (718) 785-2960.
Compare that with the city’s own Contract Financing Loan Fund: up to $1,000,000 at a fixed rate of up to 3%, with closing fees of up to 3%, for primes and subs on city agency or city-funded work. You request it through SBS Connect or 888-727-4692, and an account manager calls within two business days. The city page does not name its lenders. If your job is city work, I’d ask SBS about that fund before taking any loan with an unpublished rate. The site’s contractor financing guide covers payment timelines.
State money BOC lends
BOC Capital Corp. is on the statewide lender list for the Small Business Revolving Loan Fund, Round 2 (list dated May 15, 2026). Program money can cover up to half of a loan, capped at $125,000; microloans run $500 to $25,000, terms generally run up to 10 years, and the lender sets the rate. Eligible businesses are independently owned with 100 or fewer full-time employees. One rule stands out for anyone carrying expensive debt: this fund can refinance existing debt if the new loan cuts the fee-adjusted APR by at least 30%. The ESD page gives a separate BOC contact for this fund, (718) 766-8298.
Who qualifies and what to bring
BOC does not publish credit score floors, time-in-business minimums, revenue minimums or a document list. The state program rules above apply when your loan runs through one of them. BOC’s business outreach centers offer free basic counseling on financing, business plans and procurement with bilingual counselors and are a sensible stop before you apply.
Offices
BOC Capital’s page lists phone numbers for the Queens center, (718) 205-3773, and the Brooklyn center, (718) 624-9115. The BOC locations page gives these New York City addresses:
- Bronx: 2929 3rd Avenue, 4th floor (718-576-2230), also home to the BXL incubator
- Brooklyn: 85 South Oxford Street, 2nd floor rear
- Chinatown and Lower East Side: 55 Chrystie Street, Room 209 (212-571-1698)
- Manhattan: 48 Wall Street, 11th floor
- Queens: 96-11 40th Road, Corona
The BOC pages do not say which areas BOC Capital’s own loans cover; the state lists it as statewide for both programs.
The SBA lender with a similar name
SBA loan records show a “Business Initiative Corporation of New York” making 7(a) loans in the city. That is a separate Bronx lender: Congressman Ritchie Torres’s office described it in a 2023 announcement as the SBA lender partnering with the Bronx Economic Development Corporation on a Bronx loan fund; the release does not mention BOC. No official page links BOC Capital to SBA 7(a) lending, so this page has no SBA figures for it. For SBA lenders by borough, use the SBA lender finder.
When BOC fits, and when another route does
BOC makes sense when you hold a signed NYC agency contract or purchase order and need up to $500,000 to perform on it, or when you need an equipment or working capital loan under $250,000 with a term of up to 7 years and a bank has said no. It is also a door into the state revolving fund if you want to refinance costly debt.
Look elsewhere when you need more than $500,000, or more than $250,000 without a city contract behind it; when the work is city-funded and the 3% city fund will take you; or when you want a published rate before you apply, as Ascendus publishes 7.75% to 15.99% on its term loan. The NYC small business loans table lays out 19 city, state and community options side by side.
Against a merchant cash advance
A $50,000 merchant cash advance at a 1.40 factor rate costs $20,000, which works out to about 71% APR if daily debits take twelve months and 142% if they take six. BOC’s price is unknown until you get an offer, so get the rate and every fee in writing and convert it to an APR; the MCA vs. loan calculator does the math. Under the state fund’s refinancing rule, an advance at 71% APR would need to be replaced by a loan at no more than about 50% fee-adjusted APR to qualify.
Comparing financing offers? Send one short request and a funding partner will tell you what you may qualify for. We may be paid when you submit a request; see how this site is funded.