CAPITAL RESOURCES

  • NY Forward Loan Fund is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small property owners as they reopen after the COVID-19 outbreak and NYS on PAUSE.
  • SBA COVID-19 Economic Injury Disaster Loans New  applications  are being accepted for Economic Injury Disaster Loans(EIDL). EIDL is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. It covers a wide array of working capital and normal operating expenses.
  • NYS Bridge to Success Loan Programaims to provide qualified Minority and Women-owned Business Enterprises (MWBEs) with access to short-term bridge loans necessary to execute contracting opportunities across New York State
  • Paycheck Protection Program Loan: is a forgivable business loan offered through the federal government’s Small Business Administration that helps businesses keep their workforce employed during the COVID-19 crisis. This new package provides additional funding for businesses that did not receive PPP money in the first round, especially minority- and women-owned businesses.
  • Contract Financing Loan Fund – NYC Business: is for prime or subcontractors working with a City agency or City-funded entity. The loan repayment terms are aligned with the project payment schedule and must work for an operating business. Loans of up to $1,000,000 at an annual interest rate of 3% are available to eligible businesses.
  • JDA Agriculture Loan Fund for Agribusiness Firms:  address and help alleviate the economic barriers faced by many New York State small agribusiness owners. JDA has provided $10 million in funding, which will be distributed as low interest loans by third party lenders. Loan amounts up to $200,000.
  • Regional Revolving Loan Trust Fund: offers working capital loans to small businesses of up to $100,000 or 90% of the total project cost, whichever is less. Loan terms, interest rates and collateral requirements are determined by the administering corporations and their loan committees.
  • Small Business Revolving Loan Fund: designed to create economic activity by providing greater access to capital for main street everyday small businesses. The program is targeted to minorities, women and other New Yorkers who have difficulty accessing regular credit markets.
  • MERF Revolving Loan Program: provides loans to businesses or governments investing in projects that retain or create a significant number of private-sector jobs in economically distressed areas that are within the geographic area known as the New York portion of the service area of the Port Authority of New York and New Jersey.
  • Minority Revolving Loan Fund: fund designed to create economic activity by providing greater access to capital for minority-owned business enterprises. ESD will provide low-interest loans, up to $250,000, to qualified community-based lenders, who will in turn disburse loans to minority-owned small businesses in New York State that have difficulty accessing capital.
  • Minority and Women Revolving Loan Trust Fund: designed to provide greater access to capital for Minority and Women Owned Small Businesses with revolving funds with eight designated lenders, loans up to $50,000 for fixed assets or $35,000 for working capital and MWBE’s (NYS certification not required).
  • NYS Bar Restaurant Recovery Fund: offers reimbursement grants for up to $5,000 to eligible businesses. The program is intended to support full-service restaurants during the winter months when outdoor dining.
  • Opportunity Fund: provides loans to low- and moderate-income immigrants, women, and other deserving, but underserved small business owners.
  • NJ’s Small Business Emergency Assistance Grant Program: – NJEDA announced a $10 million expansion of its Small Business Emergency Assistance Loan Program to help support small businesses and nonprofits impacted by the COVID-19 pandemic.
  • Columbia University – Harlem SBDC: Emergency Loan Fund for Small Businesses is a relief program that disperses capital to assist small businesses struggling as a result of the coronavirus pandemic.
  • Citizens Committee for New York City: offers Grants of between $5,000 to $10,000 will fill gaps in funding by prioritizing businesses owned by people of color, immigrants, and women, which the New York Times and others report have weaker access to banking systems and financial support.
  • Brooklyn Alliance Capital, Inc.: provides financing to under-served minority and immigrant entrepreneurs and low-income small business owners to increase financial stability and foster economic growth that will create jobs in Brooklyn.

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