Small Business
Programs

Renaissance Economic Development Corporation was founded by AAFE in 1997 to transform low-to-moderate income communities by providing low-interest small business loans, training and counseling services. In the past 25 years, Renaissance, an AAFE affiliate, has provided more than 2,500 loans to small businesses, injected more than $70 million in loan capital into New York City immigrant communities and helped create and retain over 7,000 jobs.

Renaissance, a U.S. Treasury-certified Community Development Financial Institution (CDFI) and SBA lender, is an important part of AAFE’s comprehensive community development vision. We believe immigrant and low-income community members must have stable and affordable housing to thrive and access to essential social services. It’s equally important that they have pathways out of poverty through economic opportunity. Renaissance is instrumental in empowering Asian American entrepreneurs, as well as entrepreneurs from other systematically disadvantaged groups, by helping them access the capital and educational resources needed to start and expand small businesses.

Renaissance is well known as a first responder in times of crisis. From the September 11th terrorist attacks to Hurricane Sandy and the pandemic, immigrant small business owners have counted on us to deliver emergency aid in the hours and days after incidents occured, often helping sustain communities until government help arrived. Renaissance is trusted by government partners, financial institutions and – most important – by the communities we serve across New York City.

Renaissance provides economic mobility for thousands of low-income families and also neighborhood stability, helping foster economic vitality while sustaining the character of New York’s dynamic immigrant communities.