NYS MWBE 2020 Virtual Forum Opportunities Book

127 A Guide to Navigating Business Opportunities in New York State Access to Capital and Additional Resources The New York Forward Loan Fund (NYFLF) is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small residential landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE. The NYFLF targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees (90% of all businesses), nonprofits and small residential landlords that have seen a loss of rental income. The NYFLF is specifically timed to support businesses and organizations as they proceed to reopen and have upfront expenses to comply with guidelines (e.g., inventory, marketing, refitting for new social distancing guidelines) under the New York Forward Plan. Who is Eligible? • Small businesses and nonprofits must employ 20 or fewer full-time equivalent (FTE) employees; • Small businesses must have gross revenues of less than $3 million per year; • Nonprofits must provide direct services and have an annual operating budget of less than $3 million per year; and • An eligible small business or nonprofit must not have received a U.S. Small Business Administration Paycheck Protection Program of greater than $50,000 or an Economic Injury Disaster Loan (EIDL) for COVID-19 of any amount, except for EIDL advance grant of up to $10,000. Find Out More If you’re interested in applying, please visit ESD’s website: https://esd.ny.gov/nyforwardloans-info Empire State Digital Entrepreneurship Assistance Centers New York Forward Loan Fund (NYFLF) New York State Offers a variety of small business resources to help you succeed. Empire State Digital is an invitation for small businesses to explore the benefits of expanding beyond their physical brick and mortar location to an online marketplace. Through unique partnerships with leading global e-commerce and e-payment providers, Empire State Digital connects New York- based small businesses with the education, access and resources needed to digitize, expand and adapt to the new economy due to the changes from COVID-19. Building a digital presence allows entrepreneurs and small business owners to reach their existing customer base, new markets and provides continuity of business operations in a time when social distancing is an essential public health priority. Counseling and hands-on assistance is also available to small businesses through Empire State Development’s Entrepreneurship Assistance Centers, Small Business Development Centers, Manufacturing Extension Partnership Centers, Incubators and Hot Spots. Empire State Digital Partners • Square • Shopify • Etsy • Clearbanc Find Out More To learn more please visit ESD’s website: https://esd.ny.gov/empire-state-digital Entrepreneurship Assistance Centers (EAC) provide instruction, training, technical assistance and support services to new and aspiring entrepreneurs in local communities statewide. The 24 EACs assist new and aspiring entrepreneurs with MWBE Certification applications, as well as developing basic business management skills, devising marketing plans, and obtaining business financing. Find Out More If you’re interested in learning more, please visit: https://esd.ny.gov/entrepreneurship-assistance-centers

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