Nnennaya Onyejuruwa, Ashione Gallery, New York, NY >
New York Forward Loan Fund (NYFLF)
The New York Forward Loan Fund program ended on 11/16/2021 and funds have been fully exhausted. Applications are no longer being accepted. Please view our microloan product instead.
requirements for the New York Forward Loan Fund (NYFLF)*:
- Interest rate: 3% for-profit businesses with no application or closing fees;
- Interest only payments for first 12 months, 60 month term total; and
- Cannot be used to refinance existing debt.
before submitting your pre-application, it is important to consider the following requirements:
- You have not received a Paycheck Protection Program (PPP) above $500,000 or SBA Economic Injury of any amount.
- Disaster Relief Loan (EIDL) loan above $150,000;
- You have less than 50 employees; and
- You do not have a NYFLF loan from another lender.
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.
Given the phased approach of reopening New York State, this may take several weeks or longer depending on your geography, industry, and overall loan volume.
*The NYFLF terms and conditions are the same across all lenders.
The process was easy and very convenient, it was perfect.
The experience of working with Ascendus was awesome, particularly the excitement they showed in my progress and in my business.
