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About Renaissance Economic Development Corporation

Renaissance Economic Development Corporation is certified as a community development financial institution through the U.S. Department of the Treasury’s Community Development Financial Institutions Fund and has been a recipient of multiple CDFI Fund grants. Renaissance is also a Small Business Administration-approved Micro-lender. Additional support for Renaissance’s Small Business Loan Fund and technical assistance programs comes from New York State’s Empire State Development Corporation, New York City’s Department of Small Business Services, Citi Foundation, and MetLife Foundation.

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Renaissance Economic Development Corp. Helps Beloved Restaurant Reopen

On Monday, June 20, AAFE and Renaissance Economic Development Corp. helped Pommes Frites celebrate its official grand re-opening in the West Village of New York City.

The beloved restaurant was a fixture in the East Village for almost 20 years. But it was one of several small businesses devastated by last year’s Second Avenue explosion and fire. Renaissance, an affiliate of Asian Americans for Equality, helped Pommes Frites secure a low-interest loan to open a new space at 128 MacDougal St. Continue reading Renaissance Economic Development Corp. Helps Beloved Restaurant Reopen

Thanks to New Legislation, Renaissance Will Be Able to Help More Micro-Businesses

AAFE Executive Director Chris Kui with Assembly member Kim, Sen. Squadron and small business owners.

Renaissance Economic Development Corp. (REDC) was pleased to host State Assembly member Ron Kim and State Sen. Daniel Squdron June 13 to celebrate an important victory for small businesses throughout New York City.

The Kim/Squadron legislation, recently approved, strengthens a key loan program to help micro-businesses (less than five employees) and to provide micro-loans (less than $25,000). The new law applies to the Small Business Revolving Loan Fund (SBRLF). It directs the Empire State Development Corporation (ESDC) to show preference in awarding funds to lending organizations that serve small companies. Additionally, application fees for “micro-loans” under $5,000 are waived. Continue reading Thanks to New Legislation, Renaissance Will Be Able to Help More Micro-Businesses