Small Business Recovery

The New York Forward Loan Fund

The New York Forward Loan Fund 2 is a state-sponsored program that provides working capital loans for businesses and nonprofits looking to grow. The Fund is a mission-driven, relationship-based program that also offers free business guidance from community-based experts and is accessible anywhere in the state through a virtual platform. Eligible businesses and nonprofits must have existing operations in New York State, 100 or fewer full-time employee, less than $5 million in gross annual revenue, and must have been in business for at least 1 year prior to application. Learn more at NYLoanFund.com.

Fund Launch

July 2023 (phase 2)

Capital Committed

$150 million

Available to

Institutional lenders

Geography

New York state

Borrowers served

Small businesses, nonprofits, and property owners

Participating CDFIs

Website

www.nyloanfund.com

Impact at a Glance

GG Bakes

GG Bakes – a family run bakery — needed help while their storefront was closed during the pandemic. They used a loan from Ascendus to purchase signage, tables, and tents so they could set up at an outdoor farmers markets and continue selling treats to their customers.

Westbury Floral Design

With her loan from Ascendus, Lia hired four more employees to grow her floral design shop and respond to the increasing demand for flowers in her community given the loss of so many loved ones due to COVID-19.

“

The process was simple and Pursuit understood our business plan and where I wanted to go. They believed in Tech Valley and approved a loan.

Trent Griffin – Braaf,
Owner, Tech Valley Hospitality Shuttle

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How to Participate

For lenders and donors interested in supporting the New York Forward Loan Fund:

Reach out to us at info@calvertimpact.org with "NY Forward Loan Fund" in the subject line. Please note that our small business recovery funds are available to institutional lenders only. The minimum commitment is typically $1 million.

Supporting Lenders and Partners

Calvert Impact Capital, Inc., a 501(c)(3) nonprofit and a subsidiary of Calvert Impact, Inc., offers the Community Investment Note. Calvert Impact Climate, Inc., a 501(c)(3) nonprofit and a subsidiary of Calvert Impact, Inc., offers the Cut Carbon Note. The Community Investment Note and Cut Carbon Note are subject to certain risks, are not mutual funds, are not FDIC or SIPC insured, and should not be confused with any Calvert Research and Management-sponsored investment product. The Community Investment Notes and the Cut Carbon Notes are debt securities subject to the terms, conditions and risks described in the current prospectus, prospectus supplement(s) and pricing supplements, as applicable, including risk of possible loss of the amount invested. Payment is dependent on the issuer’s financial condition at the time payment is due. Any decision to invest in these securities through this Site should only be made after reading the applicable prospectus, prospectus supplement(s) and pricing supplement or by calling 800-248-0337.

This is not an offer to sell you our securities and we are not soliciting you to buy our securities. The offering is made solely by the Prospectus. We will offer and sell our securities only in states where authorized.