The Bronx Economic Development Corporation

What The Bronx Economic Development Corporation does

The Bronx Economic Development Corporation (BXEDC) is a 501(c)(3) nonprofit economic development organization founded circa 1984 and headquartered at 851 Grand Concourse in the Bronx, New York. Its core mission is to strengthen existing Bronx-based businesses and incentivize new businesses to locate in the borough, primarily by providing capital access to small businesses operating in or seeking to establish operations in The Bronx, including within the local Empowerment Zone. BXEDC operates as a federally Certified Development Company, offering a portfolio of loan products through its own balance sheet and through its affiliated SBA lending arm, the Business Initiative Corporation of New York (BICNY), including micro-loans, the Bronx Commercial Development Loan, the Bronx Initiative for Energy and the Environment loan, and the Bronx Revolving Loan Fund. BICNY has facilitated over $139 million in loans, leveraging more than $409 million from banks and private equity and retaining or creating over 2,200 jobs.

BXEDC's product portfolio extends beyond financial services into marketing and community development. It produces "The Bronx Beat," an Emmy Award-winning video series in partnership with YES Network that airs on the Yankee Stadium jumbotron during home games and features local businesses and cultural institutions. Community-facing programs include the BX-Factor Small Business Challenge ($15,000 pitch competition during Bronx Week), the Green Action Challenge ($1 million sustainability prize funded by the New York Power Authority), the Bronx Walk of Fame, and the Bronx Economic Development Summit. In 2025, BXEDC co-led with Our Bronx the first-ever borough-wide Comprehensive Economic Development Strategy (CEDS) for the Bronx, supported by the U.S. Economic Development Administration.

The revenue model is that of a public-purpose nonprofit dependent on government grants and public-private partnerships rather than commercial pricing. Identified funding sources include a $20 million Downtown Revitalization Initiative grant from Governor Kathy Hochul (2023), the $1 million Green Action Challenge prize from NYPA (2023), over $1 million in additional public and private grants in the last two years, and SBA-guaranteed loan capital channeled through BICNY. Distribution is community-led: direct outreach via the eleven Bronx Business Improvement Districts, NYC Small Business Services' Chamber On The Go program, community working groups, and word-of-mouth referrals, supplemented by owned media (Bronx Times weekly column, LinkedIn, Instagram, 1010 WINS radio segment) and large event platforms (Bronx Week, Bronx Ball, Yankee Stadium visibility). The organization has 11-50 employees and is led by President Winston Peters.

Name

The Bronx Economic Development Corporation

Legal name

The Bronx Economic Development Corporation

Website

https://bxedc.org

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

11–50 employees

Short description

The Bronx Economic Development Corporation (BXEDC) is a 501(c)(3) nonprofit founded in 1984 that provides micro-loans, commercial development loans, grants, and marketing support to small businesses in the Bronx, and co-leads the borough's first Comprehensive Economic Development Strategy.

Ownership category

akta.pro rank

Product category

Economic Development Services

akta.pro primary industry

BDC / Public Vehicle Venture Debt Providers (FSANAIAC)

Keywords

• Economic development services
• Small business loans
• SBA lending programs
• Community development financing
• Nonprofit lending

Headquarters

HQ city

Bronx

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Government Grants and Public Funding: BXEDC secures funding from government sources including the $20 million Downtown Revitalization Initiative grant from Governor Kathy Hochul, $1 million grant from New York Power Authority for the Green Action Challenge, and public/private grants. Working with government at all levels to advocate for funding.
2. Loan Programs: As a Certified Development Company, BXEDC offers micro-loans and commercial development loans to small businesses in the Bronx. The organization also partners with Business Initiative Corporation of New York (BICNY) to expand access to SBA 504 loans. Loan programs include Bronx Initiative for Energy and the Environment loans and Bronx Revolving Loan Fund loans.
3. Marketing and Promotional Services: BXEDC provides marketing and promotion services for Bronx businesses through The Bronx Beat series, Bronx Walk of Fame, and other initiatives. This includes partnership with YES Network for jumbotron exposure at Yankee Stadium.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

BXEDC is a 501(c)(3) nonprofit economic development organization that provides capital access to small businesses in The Bronx through micro-loans, commercial development loans, energy and environment loans, and revolving loan funds. It also delivers marketing and promotional support through The Bronx Beat (YES Network/Yankee Stadium), runs small business competitions like BX-Factor and the Green Action Challenge, and leads borough-wide economic development planning including the first Comprehensive Economic Development Strategy (CEDS) for the Bronx.

Product overview

The Bronx Economic Development Corporation (BXEDC) is a mission-driven 501(c)(3) non-profit economic development organization. Rather than a unified technology product, BXEDC offers a portfolio of financial and promotional programs: loan products (Micro-Loan Program, Bronx Commercial Development Loan, Bronx Initiative for Energy and the Environment Loans, Bronx Revolving Loan Fund) that provide capital access to small Bronx businesses; marketing initiatives (The Bronx Beat video series with YES Network, Bronx Walk of Fame) that promote local businesses and cultural institutions; and community development programs (Green Action Challenge, BX-Factor Small Business Challenge, Bronx Economic Development Summit, Comprehensive Economic Development Strategy) that foster sustainable economic growth. These programs work together to strengthen and expand Bronx-based businesses while advancing equitable economic development across the borough.

Differentiator

Problem solved

Functional benefit

Brands

• The Bronx Beat: Emmy Award-winning series produced with YES Network that highlights small businesses and cultural institutions in The Bronx, aired on the Yankee Stadium jumbotron during home games
• BX-Factor
• Green Action Challenge
• Bronx Walk of Fame
• Bronx Week

Products and services

• Micro-Loan Program Low-interest loan program tailored for small businesses in the Bronx Empowerment Zone, offering inclusive access to capital designed specifically for small businesses. Customers include small business owners in the Bronx seeking expansion or working capital.
• Bronx Commercial Development Loan Loan program for Bronx-based businesses to expand services and operations, with personalized support from BXEDC staff throughout the process. Customers include Bronx small businesses seeking to purchase equipment or expand operations.
• Bronx Initiative for Energy and the Environment Loans Environmental-focused loan program supporting Bronx businesses in implementing sustainability projects and green initiatives. Customers include Bronx businesses pursuing sustainability upgrades.
• Bronx Revolving Loan Fund A revolving loan fund providing ongoing access to capital for qualified Bronx businesses. Customers include Bronx businesses needing ongoing capital access.
• The Bronx Beat Emmy Award-winning video series produced in partnership with YES Network that airs on the Yankee Stadium jumbotron during home games, highlighting small businesses and cultural institutions in the Bronx. Customers include Bronx-based small businesses and cultural institutions seeking promotional visibility.
• Green Action Challenge A sustainability competition for Bronx colleges offering a $1 million grant from the New York Power Authority to develop green operational projects. Customers include Bronx colleges and educational institutions competing for sustainability funding.
• BX-Factor Small Business Challenge Signature small business showcase of Bronx Week featuring a pitch competition where selected finalists present to judges for a chance to win $15,000 in funding, with workshops provided through partnership with Business Tech Incubator at CUNY on the Concourse. Customers include Bronx-based entrepreneurs with at least one year of operations and fewer than 20 employees.
• Bronx Economic Development Summit A two-day inaugural borough-wide summit celebrating the Bronx's first Comprehensive Economic Development Strategy (CEDS), featuring panels, workshops, and networking opportunities for community stakeholders. Customers include Bronx community stakeholders, small business owners, and economic development partners.
• Comprehensive Economic Development Strategy (CEDS) The first-ever borough-wide economic development plan for the Bronx, co-led by BXEDC and Our Bronx, supported by the U.S. Economic Development Administration, aimed at shaping an inclusive and sustainable economic future. Customers include Bronx borough leadership, community organizations, and economic development stakeholders.
• Bronx Walk of Fame A recognition initiative inducting Bronxites in media and arts, featuring an app and annual Bronx Ball celebration honoring community contributors. Customers include Bronx-based businesses and recognized individuals in media and arts.

Quantifiable outcome

• Over $139 million in loans facilitated, creating/retaining over 2,200 jobs
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core and minor.

• YES NetworkcoreStrategic or Co-development PartnerPartnership with YES Network to produce The Bronx Beat series, which airs on the Yankee Stadium jumbotron during home games. This Emmy Award-winning series highlights small businesses and cultural institutions in The Bronx. The partnership provides unique promotional visibility for Bronx businesses.
• Business Initiative Corporation of New York (BICNY)coreStrategic or Co-development PartnerBICNY is the SBA lending arm of BXEDC, founded in 1998. It helps entrepreneurs access private and public funding. BICNY has provided over $139 million in loans creating/retaining over 2,200 jobs. In 2023, BICNY was awarded Small Business Lending Company status to launch a $10 million Community Advantage loan fund for the Bronx Empowerment Zone.
• Our Bronx (formerly Northwest Bronx Community & Clergy Coalition)coreStrategic or Co-development PartnerPartnership to co-lead the creation of the first Comprehensive Economic Development Strategy (CEDS) for the Bronx, supported by the U.S. Economic Development Administration. This multi-year initiative aims to shape inclusive and sustainable economic future for the Bronx.
• Santander BankminorStrategic or Co-development PartnerVolunteers from Santander Bank provide pitch practice opportunities for BX-Factor finalists to prepare for competition day.
• Bronx Tourism CouncilcoreGTM or Marketing PartnerSister organization of BXEDC focused on promoting tourism in the Bronx. BXEDC's marketing initiatives including The Bronx Beat work in conjunction with the Council's efforts.
• Bronx Borough President Vanessa L. GibsoncoreStrategic or Co-development PartnerBXEDC works closely with the Office of the Bronx Borough President to advocate for funding and bring in government investment for the borough.
• Business Tech Incubator at CUNY on the ConcoursecoreStrategic or Co-development PartnerPartnership to offer workshops supporting BX-Factor competition participants with developing and refining their business pitches. Workshop location at 2501 Grand Concourse, 3rd Floor.
• Bronx Chamber of CommercecoreStrategic or Co-development PartnerBXEDC collaborates with the Chamber on economic opportunities, small business support, and the Bronx Week celebration.
• NYC Small Business ServicescoreChannel Partner/ Reseller/ DistributorPartnership for Chamber On The Go program, Business Solutions Centers, and various small business support services including MWBE certification, NYC Accelerator Services, and NYC Business Express.
• Bronx Community CollegecoreStrategic or Co-development PartnerWon the Green Action Challenge, receiving $1 million prize for sustainability project. BXEDC coordinates with the college on economic development initiatives.
• New York YankeescoreGTM or Marketing PartnerHome games at Yankee Stadium feature The Bronx Beat series on the jumbotron, showcasing Bronx businesses and cultural institutions.
• Bank OnminorChannel Partner/ Reseller/ DistributorBXEDC references BankOn resources for Bronx businesses - initiative ensuring access to safe and affordable bank accounts, partnering with banks like Webster Bank and Spring Bank.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Lower East Side People's Federal Credit Union: Community development credit union providing small dollar loans and financial services to NYC small businesses and underserved entrepreneurs. Comparable to BXEDC's microloan and capital access mission but operates as a member-owned credit union rather than a nonprofit CDFI.

Direct peers

• Local Initiatives Support Corporation (LISC NYC): National nonprofit CDFI providing capital, technical assistance, and capacity-building to community development organizations in underinvested NYC neighborhoods. Directly comparable to BXEDC in mission, lending focus, and borough-level community development approach.
• Pursuit (formerly Grameen America): Nonprofit CDFI providing microloans and business training to entrepreneurs in underbanked NYC communities. Directly comparable to BXEDC's microloan and small business lending programs, with similar focus on Bronx and other outer-borough underserved SMB segments.
• NYC Department of Small Business Services (SBS): City agency providing business courses, capital access, certification (MWBE), and technical assistance to NYC small businesses. BXEDC partners with NYC SBS on Chamber On The Go; SBS serves the same SMB customer segment with overlapping program offerings.
• Harlem Community Development Corporation: Community-based nonprofit providing loans, technical assistance, and economic development support to Harlem-based small businesses. Most structurally similar peer to BXEDC in operating model, lending programs, and neighborhood-scale economic development focus.
• New York Small Business Development Center (NYSBDC): Statewide network providing no-cost business advisory services and capital facilitation to small businesses across New York. BXEDC's Director of Capital Access previously served as Certified Business Advisor at NYSBDC, and the two organizations serve overlapping Bronx SMB customers.

Broad incumbents

• Empire State Development: New York State's chief economic development agency, administering state-level grants, tax incentives, and small business programs. Conceptually comparable to BXEDC but at state scale with broader geographic reach across New York.
• NYC Economic Development Corporation (NYCEDC): City-level nonprofit economic development corporation serving all five NYC boroughs with capital programs, real estate development, and small business support. Highly comparable mission to BXEDC but operates at city scale with substantially larger budget and broader scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/the-bronx-overall-economic-development-corporation
• Instagraminstagram.com/bx_edc

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Bronx Economic Development Corporation