No stored Google rating available.
BOC Capital Corp. is a community development financial institution offering SBA-backed microloans and term loans up to $500K, plus advisory services for small business owners.
Data compiled from public sources
BOC Capital Corp. operates as a community-focused lender serving small business owners and entrepreneurs, particularly those underserved by traditional banks. Based on their website, they function as a CDFI (Community Development Financial Institution) participating in multiple SBA loan programs and NYC-specific funding initiatives. The organization emphasizes both capital access and business readiness, positioning themselves as long-term partners rather than transactional lenders.
Their loan products span multiple tiers: SBA Microloans ($500–$50K), SBA Community Advantage loans ($50K–$250K), Term Loans ($500–$250K), NYC Contract Financing (up to $500K at 3% APR), Order-Based Loans ($500–$250K), Green Loans ($1K–$75K), and participation in state-level revolving loan funds (SBRLF and CED). Each product targets specific business needs—working capital, equipment, inventory, contract mobilization, or energy efficiency projects. Repayment terms range from 1 to 7 years depending on the product.
BOC Capital distinguishes itself through integrated advisory services, not just lending. They offer credit evaluation and repair, loan readiness coaching, financial planning guidance, and business training—all designed to prepare borrowers before approval. Their emphasis on community impact and job creation, combined with flexible underwriting for businesses rejected by traditional lenders, reflects their CDFI mission. Phone contact (+1 718-624-9115) and direct email (boccapital@bocnet.org) suggest direct accessibility.
Limitations include geographic focus on NYC-area businesses (implied by NYC contract financing prominence), lack of publicly listed interest rates (except 3% for contract financing), and no online application portal visible on the website. Their advisory services, while comprehensive, require time investment before loan approval. The website provides limited detail on approval timelines, credit score requirements, or detailed eligibility criteria.
This is state-level context for Business Loans consumers in Brooklyn, NY. It does not confirm that BOC Capital Corporation or this specific location is licensed.
State regulator
New York Department of Financial Services
Consumer protection
Status: Permitted
Rate context: 16% civil usury cap; licensed lenders may negotiate rates for certain loan types
Personal loans from licensed lenders are permitted. Unlicensed lenders are subject to the 16% civil usury cap unless a specific exemption applies. Rates above 16% are civil usury; rates above 25% are criminal usury.
Status: Permitted
Rate context: 16% civil usury cap for unlicensed lenders; licensed lenders may negotiate rates under Banking Law
Installment loans are legal in New York. Licensed lenders have greater flexibility in rate negotiation; unlicensed lenders are subject to the 16% civil usury cap. Consumer Protection Act (Gen. Bus. Law Article 22-A) requires clear disclosure of all terms.
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
BOC Capital Corporation offers 12 services including SBA Microloan Program ($500–$50K), SBA Community Advantage Loans ($50K–$250K), NYC Contract Financing Loan Fund (up to $500K at 3% APR), Order-Based Loans ($500–$250K for purchase order financing), Term Loans ($500–$250K with up to 7-year repayment), and 7 more.
BOC Capital Corporation has profile signals associated with NYC-area small business owners with government contracts needing fast, low-cost mobilization financing, Start-up founders and micro-business owners needing under $50K and willing to engage in business coaching, Businesses with poor credit or thin financials rejected by traditional banks but with viable business models, Environmental, green energy, or sustainability-focused businesses seeking listed financing.
Key strengths: Offers SBA Microloans as low as $500, serving true start-ups and very small businesses; NYC Contract Financing at 3% APR for government contractors—significantly below market rates; Free integrated advisory services including credit repair and loan readiness coaching. Areas to consider: No publicly listed interest rates for most products—rates described only as 'will vary,' requiring direct contact; Geographic focus appears limited to NYC area based on emphasis on NYC agency contracts and NYCEDC programs.
In the Business Loans category, comparable providers include Blursoft - Working Capital Solutions USA, Card Payment Systems, CDVCA. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
BOC Capital is profile signals for NYC-area small business owners and start-ups with viable businesses who have been rejected by traditional lenders or need listed financing (contracts, green projects, microloans). Main caveat: lack of published rates, limited geographic reach, and manual advisory process make this unsuitable for borrowers seeking quick online approval or operating outside the NYC region.
Blursoft is a marketplace connecting small business owners and contractors with lending partners offering merchant cash advances, equipment financing, and short-term loans designed for borrowers with bad or no credit.
Profile signals: Contractors and self-employed workers with inconsistent income or no credit history, Small businesses in cash flow crises needing rapid access to capital
Card Payment Systems is a New York-based merchant services provider offering credit/debit card processing, POS systems, and merchant cash advances to businesses since 1988.
Profile signals: New York-area merchants seeking integrated card processing and POS solutions, Businesses with high-risk profiles that need listed payment processing
Trade association and network for community development venture capital funds providing equity financing to businesses in low-income communities.
Profile signals: Entrepreneurs in low-income communities seeking equity financing and business building support, Small business owners in economically distressed regions looking for flexible capital
Answer 3 quick questions to review category, service, and profile context.
1. What's your primary financial goal?
A plain-English breakdown of every credit score range — what each number actually means for your loans, cards, and daily life, plus exactly what to do about yours.
Read guide →A plain-English breakdown of what credit products, loans, and cards you can realistically get at every credit score level — from deep subprime to excellent.
Read guide →Learn exactly how to check your credit score for free using legitimate sources, understand the difference between soft and hard inquiries, and know your rights under federal law.
Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders are required to show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the lower-cost loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
A person who agrees to repay your loan if you can't. They're equally responsible for the debt, and their credit is affected by your payment behavior.
Cosigning helps people with thin credit get approved or get better rates. But it's a huge risk for the cosigner — they're on the hook for the full amount if you default.
Example
A parent cosigns their child's $30,000 student loan. The child stops paying after 6 months. The parent is now legally required to make the payments or face collections, lawsuits, and credit damage.
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
A one-time fee the lender charges to process and set up your loan. It covers their costs for underwriting, verifying your information, and preparing paperwork.
Origination fees are usually 1-8% of the loan amount and are often deducted from your loan proceeds — so you receive less than you borrowed.
Example
You're approved for a $10,000 personal loan with a 5% origination fee. The lender deducts $500 upfront, so you receive $9,500 in your bank account but owe $10,000 plus interest.
The original amount of money you borrowed, before any interest or fees are added. It's the 'real' amount of your debt.
Your interest is calculated on the principal. Paying extra toward principal (not just interest) is the one route to reduce your total cost and pay off a loan early.
Example
You borrow $25,000 for a car. That $25,000 is your principal. Your first payment of $450 might split as $150 toward interest and $300 toward principal, bringing your balance to $24,700.
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
Affiliate Disclosure: CreditDoc may earn a commission when you click links to BOC Capital Corporation and other services. These commissions help us maintain our free research. Compensation does not determine whether a provider can be covered; visible star ratings use stored Google review ratings when available. Learn more.