The $50 million Airport Concessions Disadvantaged Business Enterprise (ACDBE) Fund is aimed at expanding economic opportunities for minority and disadvantaged businesses in New York City airports. The fund will provide critical financial support, including loans and credit enhancements, to help ACDBE-certified businesses compete for and secure concession contracts at the Port Authority of New York and New Jersey’s John F. Kennedy International Airport (JFK) and LaGuardia Airport (LGA).

The Airport Concession Disadvantaged Business Enterprise Program is a federal initiative administered by the U.S. Department of Transportation (DOT) to ensure that disadvantaged businesses, including socially economically disadvantage individual (SEDI) owned businesses have a fair opportunity to participate in airport concession contracts. ACDBE participation is a requirement for all airports receiving federal funding and applies to both prime contractors and subcontractors in concession operations.

New York State’s ACDBE Airport Concessions Disadvantaged Enterprises Fund will utilize a combined $50 million from the Metropolitan Economic Revitalization Fund (MERF) and the New York State allotment of federal State Small Business Credit Initiative (SSBCI) funds to provide credit enhancements and direct lending capital to participating banks and community development financial institutions to provide support to certified ACDBE firms. Working with airport terminal managers and the Port Authority of New York and New Jersey, ACDBE projects will be identified within JFK and LaGuardia airports, where large concession contracts are being awarded, and where ACDBEs can participate but lack the sufficient capital.

Key Features of the ACDBE Fund:

Loan Support: Provides direct loans ranging from $50,000 to $5 million for eligible ACDBE-certified businesses.

Credit Enhancements: Reduces financial risk for banks and CDFIs, increasing lending opportunities for disadvantaged businesses.

Business Growth: Supports working capital, equipment purchases, leasehold improvements, and other financial needs.

Long-Term Stability: Encourages partnerships with major airport concession operators to help small businesses gain experience and expand.

To be eligible to apply to banks or CDFIs for financial support through the Fund, applicants must meet the following criteria:

ACDBE Certification: The applicant must be certified as an ACDBE by the Port Authority of NY/NJ under United State Department of Transportation rules, as embodied in 49 CFR Part 23, and be registered to do business in New York State.

Operating at New York City Airports: The applicant must be pursuing or currently holding concession opportunities at JFK, LaGuardia Airports.

Financial Need: The applicant must demonstrate a need for financial assistance to secure contracts, purchase inventory, cover operational expenses, or for other needs associated with participation in airport concession opportunities.

Business Plan or JV Agreement: The applicant must provide a detailed business plan, including financial projections and evidence of the contract or concession opportunity they are pursuing or have been awarded. The applicant must also provide lender a copy of its annual “Declaration of Eligibility” confirming no changes impacting its status as ACDBE.

Full guidelines can be found here.

1. Submit Eligibility Documentation: ACDBEs must provide proof of certification, business plan, financial need, and the contract or concession opportunity they are pursuing.

2. Loan Application: ACDBEs will apply for loans through participating banks or CDFIs, including providing necessary financial statements and supporting documents. Contact one of the following participating lenders for application details:

   1. Greater Jamaica Development Corporation

   2. Lendistry

   3. Upper Manhattan Empowerment Zone (UMEZ)

State Review: New York State will review applications to ensure compliance with the fund’s eligibility criteria and enroll loans that meet all requirements