Nnennaya Onyejuruwa, Ashione Gallery, New York, NY >
New York Forward Loan Fund 2
The New York Forward Loan Fund 2 is a mission-driven, relationship-based program that’s accessible anywhere in the state through a virtual platform. It empowers small businesses and nonprofits toward success, connecting them with working capital loans and business support services.
requirements for the New York Forward Loan Fund 2
- Existing operations in New York State
- 100 or fewer full-time employees
- Less than $5 million in gross annual revenue
- Been in business for at least 1 year prior to application
- Demonstrated ability to repay loan through previous and projected revenues
loan terms
- Between 36 and 72 months
- Loans of up to $150,000
- No prepayment penalties
- No origination fees
- Fixed interest rates for the life of the loan — As of July 10, 2023, rates range from 9.25% to 12.25%, depending on length of the loan
If you believe that you qualify for the NYFLF, the first step is to complete your pre-application online as soon as possible to get in the queue. We hope you choose Ascendus as your lending partner! You will then be invited by your matched lender to complete the application.
I started off with a food truck. Now I have two restaurants and another on the way. All because Ascendus gave me that first loan.
Because of Ascendus we were able to continue operations. Ascendus gave us an affordable interest rate, allowed us to offer competitive pay packages, and overall, helped us grow our business.
Ascendus gave me resources, helped me build credit, and helped me prove that I could pay back a loan.
