CDO Workforce News & Blog

Chenango-Delaware-Otsego Workforce News & Blog

The Official Career Development Source for Employment, Training and Recruitment issues for Business and Individuals in Chenango, Delaware and Otsego Counties of New York State.

New York Forward Loan Fund

From Empire State Development.gov: 

New York Forward Loan Fund (NYFLF) 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 outbreak and NYS on PAUSE. 

NYFLF targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees (90% of all businesses), nonprofits and small landlords that have seen a loss of rental income. 

NYFLF is providing working capital loans so that small businesses, nonprofits and small landlords have access to credit as they reopen. These loans are available to small businesses, nonprofits, and small landlords that did not receive a loan from either the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) or SBA Economic Injury Disaster Loans (EIDL) for COVID-19 in 2020. The loans are not forgivable in part or whole. The loans will need to be paid back over a 5-year term with interest.

The working capital loans are timed to support businesses and organizations as they proceed to reopen and have upfront expenses to comply with guidelines (e.g., inventory, marketing, refitting for new social distancing guidelines) under the New York Forward Plan.

The geographic proportionality goals for the New York Forward Loan Fund for small businesses are:

Capital Region 4% Central NY Region 4% Finger Lakes Region 4% Hudson Valley Region 12% Long Island Region 18% Mohawk Valley Region 4% NYC Region 30% North Country Region 4% Southern Tier Region 4% Western NY Region 8% Access to loans for small landlords will be targeted to owners with residential buildings of 50 units or less, and will prioritize loans for landlords whose properties are in low and moderate income census tracts or who serve low to moderate income tenants.

The New York Forward Loan Fund is supported by Apple Bank, BNB Bank, BlackRock Charitable Fund, Citi Foundation, Evans Bank, Ford Foundation, M&T Bank, Morgan Stanley, Ralph C. Wilson, Jr. Foundation and Wells Fargo.

Pre-applications for the New York Forward Loan Fund will be open on May 26, 2020 at Noon Eastern Daylight Time. Priority will be given to industries and regions that have been reopened. This is not a first-come, first-served loan program. Applications will be reviewed on a rolling basis as regions and industries reopen. For small businesses and nonprofits that are in industries and regions that have not yet reopened, you are encouraged to prepare your pre-application in advance by taking advantage of the application preparation resources available here. This will allow you to quickly submit your pre-application once it is announced that your industry and region is phased to reopen.

Five Community Development Financial Institutions (CDFIs) will be processing pre-applications on June 1, 2020: Accion East, Community Preservation Corporation, National Development Council, Pursuit and TruFund Financial Services. Please do not apply to the participating CDFI lender directly.

https://esd.ny.gov/nyforwardloans-info

To fill out a pre-application and match with a participating lender, go here.

See More Programs

New York Forward Business Reopening Lookup Tool
Monday, May 25th, Memorial Day

Connecting Job Seekers with Businesses - All at No Cost to You

Businesses - Save money and time by outsourcing your recruitment needs to CDO Workforce. Our Career Center staff provides employers with convenient, no-cost recruitment services by connecting job seekers and employers. What We Can Do for You: Match job seekers with job openings. Coordinate communication between you, our partner agencies, and the pool of local, qualified workers. Provide interview space at the Career Center if you wish to recruit on-site. Provide targeted or general job fair recruitment opportunities.

Post your company's job openings at no charge with CDO Workforce and get exposure to many job seekers. Your job will be posted to New York State Job Bank. To submit your posting, go here

For more job listing options visit: http://www.cdoworkforce.org/

CDO Workforce New York Job, Career Development and Resource Websites

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You can also visit the NYS Dept of Labor website for additional Workshop information, click here

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Veterans Come First

Veterans Come First! CDO Workforce New York Career System is proud to offer Priority of Service to veterans and their eligible spouses.
What does this mean? If you served in the military, you will be:

  • Served first by the next available staff member.
  • Given first priority for jobs and training referrals for which you are eligible and qualified.

Please visit the veterans' portal of the NYSDOL website for more information and the NYS Division of Veterans Affairs

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