New York Adds Supplemental Funds to PPP Loans for Small Businesses

Date: April 28, 2020

New York State Comptroller announces $50 million more to come from state

New York State Comptroller Tom DiNapoli announced that the New York State Common Retirement Fund will put $50 million towards Paycheck Protection Program (PPP) loans being administered by Pursuit (formerly New York Business Development Corporation).

Pursuit has already processed nearly $200 million PPP loans to small businesses. The $50 million from the New York State Common Retirement Fund will go directly to New York’s true small businesses. The following parameters for the supplemental funding have been set:

  • The funds are exclusive to New York businesses.
  • No loan minimum.
  • Maximum loan amount set at $350,000.
  • 25 percent of the loans are targeted for Minority and Women-Owned Businesses.

The loan funds are limited and there is widespread interest in the program. Pursuit cannot guarantee loan approval. To sign-up for a PPP application (note that this is not a loan application, simply a sign-up form), visit

Subscribe For Free News And Tips

Enter your email to get FREE small business insights. Learn more

Get to know NFIB

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

Learn More

Or call us today

© 2001 - 2024 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy