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COVID-19 Relief Law - New York Forward Loan Fund


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5/28/2020
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New York Forward Loan Fund ("NYFLF") is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE.  

NYFLF targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees (90% of all businesses), nonprofits and small landlords that have seen a loss of rental income.

NYFLF is providing working capital loan to provide businesses access to credit as they reopen. These loans are available to qualifying applicants that did not receive a loan from either the U.S. Small Business Administration ("SBA") Paycheck Protection Program ("PPP") or SBA Economic Injury Disaster Loans ("EIDL") for COVID-19 in 2020.  The loans are not forgivable in part or whole.  The loans will need to be paid back over a 5-year term with interest.

For any questions or assistance, please contact the Attorneys at Fazzio Law, we are in your corner!

For more information, see here: https://esd.ny.gov/nyforwardloans-info



Category: COVID-19 Relief Law


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