Did your business miss out on the CARES Act funding? You may be eligible for a new loan program that can help you reopen your business after the COVID-19 outbreak and NYS on PAUSE.
The New York Forward Loan Fund (NYFLF) targets small businesses with 20 or fewer full-time equivalent employees, $3 million or less in annual gross revenues, and those that have not received a loan from SBA’s Paycheck Protection Program or their Economic Injury Disaster Program. Loans are for working capital only and applicants need to demonstrate a direct economic hardship as a result of COVID-19.
Non-profits that meet NYFLF requirements and small landlords who have seen a loss of rental income are also eligible.
Presented by The OCIDA and Huey-Min Chuang, Senior Director of Business and Economic Development, Empire State Development.