Small Business Recovery
The New York Forward Loan Fund
The New York Forward Loan Fund is a public-private partnership that brings a scaled source of flexible, affordable capital to the smallest small businesses, nonprofits, and property owners across New York state. The program offers low-interest loans to small businesses as they rebuild and recover from pandemic related disruptions. The Fund is anchored by $20 million in commitments from New York’s Empire State Development and Homes & Community Renewal.
Kyle Savage, executive director and founder of Shining Studios Theater, used his NY Forward loan to take his afterschool theater program outdoors during the summer and fall of 2020, and online over the winter.
Fund Launch
June 2020
Capital Committed
$116 million
Available to
Institutional lenders
Geography
New York state
Borrowers served
Small businesses, nonprofits, and property owners
Participating CDFIs
5
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