Every small business deserves the resources they need to thrive – that’s why the Bronx Economic Development Corporation aims to distribute loans and highlight the hard work of all small businesses in the Bronx.
Why is it so important to have an organization dedicated to small business loans? Banks often do not make loans to small businesses because they see it as a risk. The BXEDC is filling in that gap.
Recently, BXEDC connected with Baraka African Market, located at 1345 Webster Ave., to figure out how it could make a loan that would give them the opportunity to open a bakery under the same name right next door. Baraka African Market is owned by Sierra Leone native Abdoulaye Barrie, who applied to receive a loan through the form on our website.
Baraka African Market is like any other grocery store you may visit here in the borough, but they also carry specialty goods from Africa, which you would have a hard time finding anywhere else. The store has a section for prepared food along with some seating.
Soon they will have their new bakery, which is connected to the market, open for business – the BXEDC is proud to have been part of making that happen. Investing in small businesses is beneficial to everyone in the community and reaches much further than just the business taking out the loan: Barrie can keep running his business, offer employment to others, and offer the whole community a unique place to purchase
groceries and delicious Halal African food. When the community chooses to shop locally, the investment gets even more valuable because it makes our local economy and small businesses stronger.
We have had several successful loans in 2025 so far, and we are working to find more businesses we could offer our services to. If you’re interested in taking out a loan for your small business through the BXEDC, visit bxedc.org and fill out our information form. Follow us on Instagram @bx_edc for all news and updates.
