Frequently Asked Questions (FAQ's)

  1. Overview
  2. Frequently Asked Questions (FAQ's)

Does UMEZ finance any programs to help residents with their housing needs?

No. Each neighborhood in Upper Manhattan has housing programs, including housing counseling, home repairs, and loans to support housing development. These programs are operated by ...

What is BRISC?

For entrepreneurs in Upper Manhattan, the Business Resource and Investment Service Center, Inc. (BRISC) is a vital source of support between microcredit and business loans. Funded ...

Does UMEZ provide start-up capital to businesses?

UMEZ offers financial services to new enterprises that meet their specific criteria. Prioritization is given to the management team's business experience, the thoroughness and accu ...

I want to move my business to a new location. Why would I want to relocate my business to the empowerment zone?

Upper Manhattan's population and income growth have created a prime environment for business growth. In addition to taking advantage of the current prosperous economic conditions, ...

Does UMEZ provide financial assistance to develop housing?

Generally, no. Developers interested in programs that create housing opportunities for low-income individuals or home ownership opportunities should contact the New York City Depar ...

What is the Empowerment Zone?

The Upper Manhattan Empowerment Zone Development Corporation ("UMEZ") was established in 1994 after the federal government designated certain areas of Central, East, and West Harle ...

What is the application process? How long does it take to get funding?

The process and duration depend on the type of funding sought. The following are the types of financing we offer: Businesses seeking term loans between $50,000 and $250,000 and ...

How is UMEZ Lending different than a typical lending institution?

For those looking to start or expand a business in Upper Manhattan, UMEZ provides loan services that make the process easier. With the right plan and preparation, entrepreneurs can ...

What type of funding does UMEZ provide?

UMEZ offers a range of funding opportunities tailored to support the economic development of communities in Upper Manhattan. The types of funding available from UMEZ include grants ...