Skip to Content
Author: The BCW

Leave a Comment

New York Forward Loan Program

The $100 million New York Forward Loan Fund Program announced by Governor Cuomo that will help NYS small businesses in your region with fewer than 20 employees and revenues under $3 million access low cost working capital (interest at 2% or 3%) up to $100k to re-open and run successfully.  Small businesses, nonprofits, and landlord are eligible to apply.

This loan can be paid back over five years with first year being interest only.  However, if small businesses have received either a PPP loan or an EIDL loan from SBA, they would not be eligible to apply.

NYS has set a goal of 12% of total funds under this Program for Mid-Hudson, and I ask your organization’s assistance in spreading the word about this critical resource from ESD and the State in assisting our small businesses in Mid-Hudson.

Please find attached a flyer that I urge you to share with your members, partners, affiliates, clients, in your social media outreach, and virtual events that you may host.  Pre-Applications are accepted on a rolling basis and are reviewed as businesses are allowed to reopen in phases.

To Pre-Apply for NY Forward Loan: Please direct all interested applicants to go here (link below).  Please advise that they do not contact lenders in the Program directly.  In this link, you will find eligibility criteria, FAQs, and a fifteen questions to be answered in order to yield a match to a lender/s.  Once matched with a lender, applicants will select one that they prefer.  The matched lender will then contact them once their industry is reopened for review.

To determine if they are eligible to reopen, and what phase they are in:  Go here for the widget that will help them determine their reopening status.

If applicant needs technical assistance through this process, please have them contact an Entrepreneurial Assistance Center near them; have them inform the counselor that they need help for NY Forward Loan application.


Similar News Items

Congratulations to the Burn Center at Westchester Medical Center on being verified by the American Burn Association (ABA) as an Adult and Pediatric Burn Center. The verification was made after a rigorous and thorough review of Westchester Medical Center’s burn care program. With this verification, BCW Member Westchester Medical Center is now home to the […]

Read Article

In an expansion of its media portfolio, BCW Member Today Media has acquired Bethesda Magazine and the news site MoCo360 from Z-Pop Media. Today Media is a leading publisher of regional lifestyle magazines, business publications and websites across multiple markets including Westchester Magazine and 914INC. Rob Martinelli, CEO of Today Media, said Bethesda Magazine and […]

Read Article

CLICK HERE to watch the StarPower 1 Leadership Program – Information Session.

Read Article

Become A Member

Join the county’s largest and most influential business organization today.

The Business Council of Westchester is committed to helping businesses market, learn, advocate, and grow. Over 80 events and programs are offered every year, giving our members ample opportunity to connect and meet with businesses representatives in the Westchester community and beyond.
Back to top