New York Forward Loan Fund (Round 2)
The New York Forward Loan Fund (2nd Round) is a state-funded program that provides loans of up to $150,000 to eligible businesses at an interest rate ranging between 8.5% and 11.5% depending on the length of the loan (as of 12/18/24).
The state-sponsored program is designed for stable businesses looking to grow. Businesses must demonstrate they have the ability to repay the loan through previous or projected cash flow.
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While loans are funded by the state, underwriting decisions are made by community lenders. The lenders in this program are Accion Opportunity Fund, Ascendus, Grow America, Pursuit, TruFund, Accompany Capital & Renaissance. To begin applying, business owners should complete a pre-application and be matched with a lender.
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This program is one of many financing opportunities available to NYC entrepreneurs, and we encourage you to meet with a Pace SBDC business advisor for no-cost, personalized assistance navigating them all. Our business advisors can guide you through the lending process, answer questions, and help your business grow.
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For more information about the NY Forward Loan Fund (Round 2), visit the program's FAQ page.
We know applying for a loan can be a daunting process. The Pace University SBDC is here to help. Contact us to schedule a no-cost, one-on-one business counseling session.