Updates to the New York Forward Loan Fund: Your Business Could Now Be Eligible

The Empire State Development (ESD) COVID-19 relief program, the New York Forward Loan Fund (NYFLF), provides small businesses, non-profits and small landlords that have been in business for at least one year as of the date of loan application with working-capital loans of as much as $100,000.

The new year has brought valuable NYFLF eligibility requirement updates to widen the opportunity. Now a small business must have 50 or fewer full-time employees (it used to be 20) and gross revenues of less than $5 million per year (up from $3 million, previously). Further, businesses could have received a PPP loan of up to $500,000 or an EIDL loan of up to $150,000.

Start applying at the NYFLF pre-application form found here. Then, a participating lender will contact you to review credit history and help you finalize the application process. Watch a panel of lenders speak on our December 2020 NYFLF webinar here.

Talk with one of our Pace SBDC business advisors about your business plans, financial projections, and the NYFLF pre-application process. Contact us to ask for a no-cost, 1:1 meeting with an advisor.


Pace University SBDC

163 William Street, Room 328

New York, NY, 10038   


Office:  (212) 618-6655

Email:  sbdc@pace.edu

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Partnership Program with the SBA, administered by the State University of New York. Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.  All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. All SBA funded programs are extended to the public on a nondiscriminatory basis.

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