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To be eligible for a New York Forward Loan Fund working capital loan, a small business must meet the requirements detailed below.

Please note that the pre-application should be completed and submitted by the owner of the business with the largest ownership interest, and that all owners with more than 20% ownership will be required to attest to the information therein.

• Employ 20 or fewer full-time equivalent (FTE) employees;
• Have gross revenues of less than $3 million per year;
• 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;
• Have suffered a direct economic hardship as a result of COVID-19 related social distancing policies and stay-at-home order that have materially impacted their operations;
• Been in business for at least 1 year as of the date of loan application; and
• Located in the State of New York.

https://www.connect2capital.com/partners/new-york-forward-loan-fund