New York Forward Loan Fund (NYFLF) is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE.
Pre-applications for the New York Forward Loan Fund are now open. This is not a first-come, first-served loan program. Applications will be reviewed on a rolling basis. For small businesses and nonprofits, you are encouraged to prepare your pre-application in advance by taking advantage of the application preparation resources available here
Small businesses and nonprofit groups hardest hit by the coronavirus pandemic now are eligible for additional support under a $5 billion Small Business Administration
The new round of Economic Injury Disaster Loan assistance, known as Supplemental Targeted Advances, is available for up to 1 million small businesses and nonprofits with no more than 10 employees.
To qualify, applicants must be located in a low-income community; suffered greater than a 50% economic loss over an 8-week period since March 2, 2020 compared to the previous year; and have 10 or fewer employees.
You can get more information at SBA.gov/eidl. You can also email questions to TargetedAdvance@sba.gov.
To see if your business is located in a designated low-income area, you can use this map.