New Funding Opportunities

Working Capital Programs

  • New York Forward Loan Fund (NYFLF)

    • NYFLF targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees, nonprofits and small residential landlords that have seen a loss of rental income.

    • NYFLF is providing working capital loans so that small businesses, nonprofits and small landlords have access to credit as they reopen.

    • These loans are available to small businesses, and nonprofits that did not receive a U.S. Small Business Administration Paycheck Protection Program of greater than $50,000 or an Economic Injury Disaster Loan (EIDL) for COVID-19 of any amount, except for EIDL advance grant of up to $10,000, and small residential landlords.

    • The loans are not forgivable in part or whole. The loans will need to be paid back over a 5-year term with interest.

    • Learn more and complete a pre-application online HERE.

  • Central Hudson’s Back to Business funding program

    • Central Hudson has committed up to $1 million in economic development support to provide local small businesses with grants to help pay down new working capital loans taken with participating local banks.

  • U.S. Small Business Administration (SBA) Coronavirus Relief Options

    • Paycheck Protection Program (PPP)

      • The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

      • SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.

      • PPP will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. See the SBA announcement here.

      • An overview for organizations that have not yet received a PPP loan and are looking to apply can be found here.

      • An overview for second draw PPP can be found HERE.

    • Economic Injury Disaster Loan (EIDL)

      • This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue.

      • Funds can be used for working capital and normal operating expenses.

      • SBA is currently accepting new Economic Injury Disaster Loan (EIDL) applications from all qualified small businesses, including agricultural businesses, and private nonprofit organizations.

      • More details on eligibility and terms can be found HERE.

    • SBA Express Bridge Loans

      • Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.

      • Allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.

      • These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan.

 

Capital Grant and Other Economic Incentive Programs

  • NYS Homes & Community Renewal New York Main Street (NYMS) Program

    • NYMS provides resources to invest in projects that provide economic development and housing opportunities in downtown, mixed-use commercial districts.

    • Eligible applicants apply to HCR for matching, reimbursement grants ranging from $50,000 - $500,000 to assist downtown property owners with renovation projects or technical assistance projects to support later renovation projects.

    • Details available online here.

    • Applications must be submitted by Friday, January 15, 2021 by 4:00 pm.

  • Grant Funding Available for Infrastructure Projects that Protect or Improve Water Quality

    • $17 Million is Available to Support Green Stormwater Infrastructure, Water Efficiency, and Energy Efficiency Projects across the State

    • $2 Million is Also Available to Help Municipalities Pay for Initial Planning for Wastewater Infrastructure Projects

    • EFC will host a webinar to present these funding programs on January 13, 2021, at 11 a.m.

    • You may register for the webinar on EFC's website efc.ny.gov

    • The deadline for all applications is Friday, February 12th, 2021 at 4:00 p.m.

  • 2020 Community Development Block Grant (CDBG)

    • NYS Homes & Community Renewal (HCR) is pleased to announce the opening of the 2020 NYS Community Development Block Grant Program competitive application for Public Infrastructure, Public Facility and Community Planning projects and open round application for Economic Development and Microenterprise activities.

    • CDBG Public Facility, Public Infrastructure and Community Planning Application materials are available now.  Applications for Public Infrastructure, Public Facility and Community Planning projects will be accepted until 4:00 pm on Friday March 5, 2021.

    • CDBG Economic Development, Small Business & Microenterprise Application materials are available now.  Applications for Open Round Economic Development and Microenterprise applications will be accepted throughout 2021 with rolling awards.

    • NYS CDBG Application Webinar will be held Thursday, January 14, 2021 at 10:00am. Click here to register now

  • New York Power Authority’s (NYPA) ReCharge NY Program

    • Qualifying businesses and nonprofits can potentially lower their energy costs by using specially allocated NYPA power which is set aside by the state government and the NYPA board for economic support.

    • Companies receiving allocated power have made commitments such as remaining in the state, keeping or growing employment, expanding operations, and/or making significant local investments in their businesses.

  • NYSERDA Energy Programs and Incentives

    • Explore federal, New York State, and utility programs for available financial and technical support.