Funding Opportunity: The New York Forward Loan Fund (NYFLF) is designed to support small businesses and nonprofit organizations proceeding with reopening in the upcoming weeks. The purpose of the fund is to assist with upfront costs associated with reopening including refitting to comply with social distancing guidelines, new inventory/stock, marketing and promotions materials, and to assist with staff salaries. Economic recovery loans through this program are also available for small landlords who have experienced a loss of rental income during the Pause period in New York State.
Eligibility: Small businesses with 20 or fewer employees, small businesses with less than $3M annual revenue, and/or nonprofit organizations with less than $3M annual revenue. Applicants who have received funding from the Small Business Association (SBA) through the Paycheck Protection Program (PPP) or the Economic Injury Disaster Loan (EIDL) as a result of COVID-19 are not eligible for funding.
Loan Amount: Variable
Loan Period: Loans will be paid back, with interest, over a 5-year period.
- Application Deadline: Pre-applications are currently being accepted and will continue to be accepted and reviewed on a rolling basis beginning June 1, 2020.
For more information: Click here for details about program eligibility, funding details, and application instructions.
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