- Loan Amount: up to $1,000,000 in funding.
- Interest Rate: Fixed at 3%
- Term: aligned with project payment schedule.
- Fees: 1-2%, which is financed into your loan
- Time to funding: approvals and disbursement of funds are determined on a case-by-case basis. Generally, approvals are provided in 3-4 weeks
NYC Contract Financing Loan Program
Key Features
- Low Interest Rate
- Interest Only Payments
- Available to Prime and Subcontractors
The New York City Contract Financing Loan Program through Pursuit can provide you with a line of credit up to $1,000,000 to help you submit a bid or continue work on a contract project with New York City Agency or NYCEDC
About The Program
Will I Qualify?
- One or more years in business
- Positive or break-even cash-flow
- Personal credit score of 600 or higher
- $100,000 or more in annual revenue
Required Information
- Most recent 3 years of business and personal tax returns
- Contract cash flow cycle report
- The size, scope and cash requirements of the contract project
- The name of the agency providing the contract, the contract category and contract type
- Work in progress report
- A capabilities statement demonstrating your business's experience in contracting with government agencies