Mintz Debt Financing Guide

Public Resources for New York Entrepreneurs

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The Capital Access Program

Application Deadline: Varies depending on participating lenders’ specifications.

Funding Opportunity:  New York State' s Capital Access Program (“CAP”) is a $9 million program that provides matching funds to financial institutions for loan loss reserves as an incentive to increase small business lending. CAP can be used with term loans or lines of credit, on financing for working capital needs, technology or facility upgrades, business startups or business expansions. New York State small businesses can utilize CAP by contacting a participating lender that will conduct its own loan application process and determine loan terms.

Requirements: A Borrower must be a small business that (1) resides in New York State, (2) is independently owned and operated, (3) not dominant in its field, and (4) employs 100 or less persons that otherwise finds it difficult to obtain regular or sufficient bank financing.

Industry Specific: No.

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The New York City Capital Access Loan Guaranty Program

Application Deadline: Open application.

Funding Opportunity: A public-private partnership that helps micro and small businesses experiencing difficulty accessing conventional bank loans to obtain loans and lines of credit up to $250,000 for working capital, leasehold improvements, and equipment purchases. Some micro lenders will consider start-up loan applications.  Provides up to a 40% guarantee on loans for qualified NYC micro (under 20 employees) and small (21 to 100 employees) businesses experiencing difficulty in accessing loans.

Requirements: Financing is available for retailers, manufacturers, wholesalers, non-profit organizations, contractors and distributors. Applicants must be located and conducting their business in New York City. Eligible uses include loan proceeds that are used for working capital, leasehold improvements and equipment purchases. Some micro-lenders will consider start-up loan applications.

Industry Specific: Yes.  Participants should be a retailer, manufacturer, wholesaler, non-profit organization, contractor or distributor.

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New York State Surety Bond Assistance Program

Application Deadline: Open application. Pre-application assessment required.

Funding Opportunity:  The New York State Surety Bond Assistance Program (“NYSBAP”) provides technical and financial assistance to help contractors secure surety bonding. Contractors may be eligible to receive a guarantee of up to 30% to secure a surety bond line, bid bond or a performance and payment bond on state and city projects. Small businesses can also enroll to receive free training and technical support on becoming bond-ready. Guarantees for bond lines and bid bonds will be issued by Empire State Development with zero fees or costs.


  • Applicant must be a New York State small business or MWBE with at least two years of business operations.

  • Maximum bond line or project size is $2 million.

  • Minimum average gross revenue of $400,000 in the last two fiscal or calendar years and maximum gross revenue not to exceed $5 million in the most recent calendar or fiscal year.

  • Minimum credit score of 600.

  • Previous experience completing similar work to the contract opportunity being pursued.

  • More specific eligibility requirements can be found here.

Industry Specific: No.

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Small Business Revolving Loan Fund

Application Deadline: Open application.

Funding Opportunity:  The Small Business Revolving Loan Fund is a $50 million fund designed to create economic activity by providing greater access to capital for main street, everyday small businesses. The program is targeted to minorities, women and other New Yorkers who have difficulty accessing regular credit markets. Governor Paterson’s Small Business Task Force identified this vital need and initially proposed the creation of this program. The 2010 to 2011 state budget provided $25 million in state funds and will leverage at least $25 million in private matching funds.

Program funds used to finance an applicant loan will be no greater than (1) 50% of the principal amount and (2) no more than $125,000. There will be two categories of loans:

  • Micro-Loans - principal amount that is less than $25,000

  • Regular Loans - principal amount greater than $25,000

Requirements: Small retail, service and manufacturing businesses across New York State are eligible to apply. New startup businesses may qualify if they meet certain criteria such as having a viable business plan backed by collateral and a record of success. Business must be a resident of New York State,      independently owned and operated, not dominant in its field, and retain 100 or fewer employees. Funding may be used for working capital, acquisition and or improvement of real property, acquisition of machinery and equipment, property improvement, or efinancing of debt obligations.

Industry Specific: Yes. Participants should be small retail, service and manufacturing businesses.  Organizations not eligible for funding include newspapers, broadcasting or other news media, medical facilities, libraries, community or civic centers.