State launches New York Forward Loan Fund to help small businesses

Gov. Andrew Cuomo announced a new $100 million loan program Friday that will be available to small businesses across the state.

Posted: May 22, 2020 6:19 PM

ALBANY, N.Y. – Gov. Andrew Cuomo announced a new $100 million loan program Friday that will be available to small businesses across the state.

The New York Forward Loan Fund will help small businesses, nonprofits and some landlords as they navigate reopening amid the coronavirus pandemic. The money can be used to cover costs of inventory, marketing and implementing social distancing guidelines.

The following criteria must be met to be eligible to apply:

  • Small businesses and nonprofits must employ 20 or fewer full-time equivalent (FTE) employees; 
  • Small businesses must have gross revenues of less than $3 million per year;
  • Nonprofits must provide direct services and have an annual operating budget of less than $3 million per year; and
  • Have not received a loan from either SBA Paycheck Protection Program (PPP) or SBA Economic Injury Disaster Loan (EIDL) for COVID-19 in 2020.

Empire State Development says $4 million of the money will be for small businesses in the Mohawk Valley.

New York Coronavirus Cases

County data is updated nightly.

Confirmed Cases: 373040

Reported Deaths: 29968
CountyConfirmedDeaths
New York City20437721649
Nassau405722127
Suffolk399801909
Westchester336331378
Rockland13223646
Orange10449444
Erie6173524
Dutchess3936142
Monroe2989216
Onondaga2228139
Albany1900112
Ulster169677
Sullivan139231
Putnam126260
Oneida104949
Niagara104865
Schenectady69629
Broome57844
Rensselaer49328
Saratoga48414
Columbia39134
Madison31710
Warren25528
Steuben24241
Greene24118
Orleans24137
Washington23713
Fulton21218
Ontario2099
St. Lawrence2052
Genesee2024
Tompkins1640
Chemung1371
Chenango1330
Tioga13121
Livingston1197
Wayne1163
Herkimer1113
Oswego1103
Clinton974
Cayuga931
Montgomery934
Cattaraugus890
Chautauqua864
Wyoming865
Delaware824
Jefferson740
Otsego735
Seneca590
Schoharie510
Allegany480
Cortland410
Yates396
Essex380
Franklin230
Lewis200
Schuyler120
Hamilton50
Unassigned00
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