Skip to content
NFIB Logo Join Now

New York State Launches Round 2 of $150 Million Small Business Loan Fund

New York State Launches Round 2 of $150 Million Small Business Loan Fund

July 25, 2023

New York State Launches Round 2 of $150 Million Small Business Loan Fund

Last week, Governor Kathy Hochul announced the New York Forward Loan Fund 2 program for qualifying small businesses and nonprofits. Eligible businesses and nonprofits with existing operations in New York State, 100 or fewer full-time employees, and less than $5 million in gross annual revenue can apply for loans up to $150,000 with affordable, fixed-rate interest rate options. The original New York Forward Loan Fund was designed to provide loans to small businesses in New York lacking access to affordable credit options resulting from the COVID-19 pandemic. The New York Forward Loan Fund 2 will be in place for eight years, and will focus on supporting small businesses and nonprofits, specifically those in low-income and rural communities to cover business expenses, from payroll and marketing to facility renovations. Free guidance will be provided from advisors at New York’s Entrepreneurship Assistance Centers and Small Business Development Centers throughout the life of the loan. Additionally, working with Community Development Financial Institutions (CDFIs), New York Forward 2 will assist in accomplishing the program’s larger goal of investing in underfunded businesses. >>> To pre-apply for the New York Forward Fund 2 visit HERE.
Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

North Carolina Legislative Building
March 3, 2026
‘Short Session’ of NC General Assembly to Begin on April 11
The primary focus of this year’s session will be spending.
Read More
The New York State Capitol Building in Albany, home of the New York State Assembly.
March 2, 2026
NY State Director Ashley Ranslow Submits Testimony for Joint Legislative Budget Hearing on Economic Development and Taxes
Reject new or increased taxes on small business
Read More
February 26, 2026
NFIB Statement on NYSERDA’s Memo Regarding “Likely Cost of CLCPA Compliance”
NFIB called for a cost analysis of The Climate Leadership and Community Protection Act
Read More
February 25, 2026
New NFIB Survey Shows Rise in Industry-Specific Small Business Optimism
WASHINGTON, D.C. (Feb. 25, 2026) – The NFIB Research Center released an industry-specific quarterly Small Business Economic Trends survey highlighting the cons…
Read More

© 2001 - 2026 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility