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

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

Website

www.nyloanfund.com

Impact at a Glance

GG Bakes

GG Bakes – a family run bakery — needed help while their storefront was closed during the pandemic. They used a loan from Ascendus to purchase signage, tables, and tents so they could set up at an outdoor farmers markets and continue selling treats to their customers.

Westbury Floral Design

With her loan from Ascendus, Lia hired four more employees to grow her floral design shop and respond to the increasing demand for flowers in her community given the loss of so many loved ones due to COVID-19.

“

The process was simple and Pursuit understood our business plan and where I wanted to go. They believed in Tech Valley and approved a loan.

Trent Griffin – Braaf,
Owner, Tech Valley Hospitality Shuttle

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How to Participate

For lenders and donors interested in supporting the New York Forward Loan Fund:

Reach out to us at info@calvertimpact.org with "NY Forward Loan Fund" in the subject line. Please note that our small business recovery funds are available to institutional lenders only. The minimum commitment is typically $1 million.

Supporting Lenders and Partners

Calvert Impact Capital, Inc., a 501(c)(3) nonprofit and a subsidiary of Calvert Impact, Inc., offers the Community Investment Note, which is subject to certain risks, is not a mutual fund, is not FDIC or SIPC insured, and should not be confused with any Calvert Research and Management-sponsored investment product. Any decision to invest in these securities through this Site should only be made after reading the prospectus or by calling 800-248-0337.

This is not an offer to sell you our securities and we are not soliciting you to buy our securities. The offering is made solely by the Prospectus. We will offer and sell our securities only in states where authorized.