A new program is allowing people from all around the world help grow women owned businesses right here in the city.
The Department of Small Business Services recently launched the WE Fund: Crowd program.
Through a partnership with the non-profit Kiva, women entrepreneurs can apply for zero interest crowdfunded loans of up to ten thousand dollars.
The city contributes the first ten percent of the requested loan amount, while the remaining balance is met through lenders who contribute online.
Nearly 90 lenders gave money towards a $10,000 loan for Better Beast, a Brooklyn based peanut butter company.
"We are going to be able to get into these single serving packets and that was really the next hurdle because we really wanted to make Better Beast accessible to people across the country," said Better Beast Communications Director Ivette Delgado.
Business owners have 3 and a half years to pay back the amount borrowed.
Through Kiva, each individual lender will be repaid their loaned amount.