The New York Forward Loan Fund 2 is a $150 million expanded program offering qualifying small businesses and nonprofits access to capital from mission-driven lenders, with loans of up to $150,000 as well as free support services.
New York programs providing financial assistance for entrepreneurs
New York operates nine SSBCI programs, one capital access program, three loan participation programs, three loan guarantee programs, and three equity/venture capital programs. Empire State Development (ESD), an umbrella organization for the state’s two primary economic development public benefit corporations, is the implementing entity for the state and will administer all approved programs. New York Ventures is a unit within ESD’s Division of Small Business and Technology Development that manages the venture capital programs. For the New York Forward Loan Fund II, Calvert Impact, Inc. (CII) will be a contracted entity to support ESD with program administration.
State SSBCI programs
New York State Small Business Revolving Loan Fund 2
$55.5M in SSBCI funding to provide shorter-term microloans and loans typically under $250,000. Addresses inequitable capital access by bridging the financing gaps facing new companies, under-banked communities and small businesses.
New York Capital Project Loan Fund
The Capital Project Loan Fund (CPLF) will provide $106 million in State Small Business Credit Initiative (SSBCI) funding to provide direct loans for the growth of manufacturing and other eligible businesses within New York State, by assisting in financing a portion of the cost of acquiring and renovating existing buildings or constructing new buildings ("real estate" projects) or for purchasing
New York Capital Access Program
New York State’s CAP is a loan loss portfolio insurance program designed to increase financing opportunities for New York State’s small businesses, socially and economically disadvantaged individual (SEDI) business owner* and very small businesses (VSB)**.
Featured state lenders
Launch NY
Launch NY is a nonprofit venture development organization and U.S. Treasury-designated Community Development Financial Institution (CDFI) serving startups across 36 Upstate New York counties. Since 2012, the organization has supported nearly 1,860 companies that have raised more than $1.5 billion in capital, generated over $275 million in annual revenues, and created more than 9,600 jobs.
NYC Future Fund
The NYC Future Fund offers financing to help small businesses access the capital they need to grow and navigate changes in the market.
Spring Bank
Spring Bank is a mission-driven community bank headquartered in the South Bronx, New York.
Grameen America
Grameen America offers microloans to women entrepreneurs in various cities across the United States. To be eligible for a loan, applicants must reside within approximately 15 miles of a branch location.
Accompany Capital
Accompany Capital is a nonprofit Community Development Financial Institution (CDFI) that provides loans, training, and support to immigrant, refugee, and underserved entrepreneurs. They offer small business loans primarily in New York City, focusing on areas such as Queens, Brooklyn, Manhattan, and the Bronx.
Union County Economic Development Corporation (UCEDC)
As a Community Development Financial Institution (CDFI) and a U.S. Small Business Administration (SBA) lender, we help startups and small businesses in New Jersey, New York City, Westchester County, Philadelphia, and Bucks County access capital. We offer loans from $500 to $5.5 million to support your growth at every stage.
Real Estate Acquisition Program
TruFund’s Real Estate Acquisition Program provides business advisory services and access to capital to disadvantaged small business owners who seek the opportunity to overcome the primary barriers to owning real estate, which is the traditional high percentage down payment.
Mohawk Valley EDGE Business Loans
Mohawk Valley EDGE is responsible for overseeing and administering several revolving loan funds that are used for economic development. These funds are available to support business and community investment projects that will create jobs, support the retention of existing jobs, enhance the tax base of the area and provide added value to the region’s economy.
La Fuerza Micro-Loan Program: Minority And Women Business Enterprises
The La Fuerza Micro-Loan Program: Minority And Women Business Enterprises provides accessible capital to certified minority- and women-owned businesses with contract awards seeking financing for upfront costs.
Empire State Development Small Business Revolving Loan Fund
SBRLF is designed to create economic activity by providing greater access to capital for main street everyday small businesses. The program is targeted to small businesses that have had difficulty accessing regular credit markets. Loans can be up to $25,000.
The Bronx Commercial Development Loan
The Bronx Economic Development Corporation is offering commercial development loans to businesses located in the Bronx with 25 or fewer employees. Businesses must provide their past three (3) years of tax returns at the time of application.
The Bronx Micro-Loan
The Bronx Economic Development Corporation is offering micro-loans to businesses located in the Bronx with 25 or fewer employees. Businesses must provide their past three (3) years of tax returns at the time of application.
NY SSBCI program details at a glance
State Small Business Credit Initiative (SSBCI) program administrator(s): Empire State Development (ESD) along with New York Ventures, a unit within ESD’s Division of Small Business and Technology Development, and Calvert Impact, Inc. (CII)