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Contract Financing Loan Fund

Get the Funds You Need to Take on City Contracts

If your business is working or bidding on a contract with a city agency or city-funded entity as a prime or subcontractor, you may be eligible for a Contract Financing Loan. Loan repayment terms are aligned with the project payment schedule.

Loans of up to $1,000,000 at a fixed annual interest rate of up to 3 percent are available to eligible businesses. Closing fees up to 3 percent may apply.

Have questions or want to get started?

Call us at 888-SBS-4NYC (888-727-4692), available Monday–Friday, 9 a.m. to 5 p.m. and ask for "Contract Financing Loan Fund".

Learn More

Loan Eligibility

To be eligible to apply for a loan, you must:

  • Have an operating business
  • Be seeking financing as a prime or subcontractor to use toward a contract with a city agency or city-funded entity

How It Works
  1. Create/log in to your SBS Connect account.
  2. Fill out a request for financing assistance and select "Contract Financing".
  3. An account manager at your local NYC Business Solutions Center or Industrial Business Service Provider will reach out within two business days.
  4. If eligible, the account manager will help you submit your completed loan application to the lender.
  5. The lender will review the application and determine whether to award a loan based on the application.

Assignment of Payment

In some instances, there is a legal agreement through which a city agency agrees to assign payments due to the contractor vendor directly to a third party, known as an Assignment of Payment. To better understand the process, please refer to the Assignment of Payment Process guide.