Monday, December 7, 2020, from 2-3 pm EST
The Pace University Small Business Development Center (SBDC) is partnering with Empire State Development, TruFund Financial Services, and Community Preservation Corp for a panel discussion on the New York Forward Loan Fund (NYFLF). Launched to support NYS small businesses, nonprofits, and small landlords that suffered a direct economic hardship as a result of COVID-19, NYFLF provides working capital loans of up to $100,000. Interest rate for the loans is 3% for small businesses and small landlords and 2% for nonprofits and is for a five-year term with interest-only payments due during the first twelve months.
As part of the panel discussion, you will hear from two NLFLF lenders, TruFund Financial Services and Community Preservation Corp, regarding application requirements and examples of loans they have provided, as well as from a representative from Empire State Development, NYS' economic development agency regarding NYS-sponsored financial resources. The panel will also leave time for Q&A for you to connect with the lenders and explore whether this program and/or others they offer may be an effective financing option for your venture.