New York's statewide community network of Small Business Development Centers, Entrepreneurship Assistance Centers and Community Development Financial Institutions are available to help guide your business through the loan application process. The following information will help you understand your options for getting a small business loan, make informed decisions, and find responsible small business lenders. New York saw a slight increase in the number of coronavirus deaths over the past 24 hours. USDA provides funding opportunities for rural small businesses through loans, loan guarantees and grants. The geographic proportionality goals for the New York Forward Loan Fund for small businesses are: Access to loans for small residential landlords will be targeted to owners with residential buildings of 50 units or less, and will prioritize loans for residential landlords whose properties are in low and moderate income census tracts or who serve low to moderate income tenants. The New York Forward Loan Fund is supported by Apple Bank, BNB Bank, BlackRock Charitable Fund, Citi Foundation,  Evans Bank, Ford Foundation,  HSBC Bank, M&T Bank, Morgan Stanley, Ralph C. Wilson, Jr. Foundation and Wells Fargo. USDA provides funding opportunities for rural small businesses through loans, loan guarantees and grants. Cuomo said those are two different things and should stay separate. Please note that the pre-application should be completed and submitted by a member of the nonprofit’s executive team and will be required to attest to the information therein. SBA offers a variety of loan programs for very specific purposes—read more to see if your business qualifies to participate. Pre-applications for the New York Forward Loan Fund are now open. Check the latest closings and delays for schools, business, and churches around CNY and the Mohawk Valley. Submit pre-applications for the New York Forward Loan Fund at. The loan applicant will be required to detail anticipated use of funds when they apply. Business leaders, lawyers and nonprofit professionals have also volunteered to offer loan application guidance. NYFLF targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees (90% of all businesses), nonprofits and small residential landlords that have seen a loss of rental income. A total of 109 people passed away from the virus in a single day compared to 106 the day before. 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. Have no more than 200 units under ownership, and no single property greater than 50 units; Properties must either be located in a low or moderate income (LMI) census tract or meet a rent test where property rents are affordable to tenants of low and moderate income; Properties must have positive cash flow for a 12-month period prior to NY Forward loan request; Properties must have an active forbearance agreement for their mortgage, or proof that they have not missed a monthly debt service payment in the last 12 months, and/or no active mortgage; Properties must be current on their property taxes through March 2020; Property owners must attest that they will not evict COVID-impacted non-paying tenants; Properties must be in good repair, with no major life and safety violations; Properties must be located in the State of New York. The New York District Office is responsible for the delivery of SBA's programs and services in New York City and Long Island and in Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster and Westchester counties. Applications will be reviewed on a rolling basis. Procurement Technical Assistance Centers (PTACs) provide local, in-person counseling and training services for you, the small business owner. 50 employees or fewer The $100+ million New York Forward Loan Fund will provide "flexible and affordable loans to help small businesses." A reporter asked if probable deaths could be included in the total number of coronavirus deaths. With unemployment reaching 14.5% in April and the largest monthly job decline on record, Governor Andrew Cuomo announced that the state is launching a loan program to help small businesses that were left out from receiving federal aid. To be eligible for a New York Forward Loan Fund working capital loan, a nonprofit must meet the requirements detailed below. Terms last as long as 4 years, and payments can be deferred up to 6 months. Organized as 501(c)(3) or faith-based organization (cannot be for support of religious worship or activities); Employ 20 or fewer full-time equivalent (FTE) employees for nonprofit; Provide direct services to New Yorkers for example daycare services, legal aid, food banks, soup kitchens, after school programs, senior services, educational programs, clothing banks; Have an annual operating budget of less than $3 million per year; Been in operation for at least 1 year as of the date of loan application; and.