New York Forward Loan Fund information and updated OCFS guidance for child care providers
The following email was sent to child care providers on June 1 by UFT Family Child Care Providers Chapter Chair Tammie Miller.
I want to share some information with you about the New York Forward Loan Fund, which could help support your child care business.
The New York Forward Loan Fund is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small landlords as they reopen after the COVID-19 epidemic and New York State on Gov. Andrew Cuomo's PAUSE order. The New York Forward Loan Fund targets the state’s small businesses with 20 or fewer full-time equivalent employees (90% of all businesses), nonprofits and small landlords that have seen a loss of rental income.
This program 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 and refitting for new social distancing guidelines) under the New York Forward Plan.
Pre-applications for the New York Forward Loan Fund are now open. Priority will be given to industries and regions that have reopened. This is not a first-come, first-served loan program. Applications will be reviewed on a rolling basis as regions and industries reopen.
Please see the eligibility requirements below.
- Small businesses and nonprofits must employ 20 or fewer full-time equivalent 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
- They may not have received a loan from either SBA Paycheck Protection Program or SBA Economic Injury Disaster Loan for COVID-19 in 2020.
Please note: For small businesses and nonprofits in industries and regions that are still closed, you are encouraged to prepare your application in advance by taking advantage of the application preparation resources available here.
Read more about how to apply »
The state Office of Children and Family Services held a conference call with stakeholders on May 19 to discuss important concerns for child care providers. Topics included CARES Act scholarships and supplies, background checks for legally exempt/informal providers and more. I've included information from that call below.
Read answers to questions from child care community members »