Contract Financing

The New York State Contractor Financing Program (“Program”) will provide capital to help contractors successfully execute contracts, including those awarded by NYPA and NYS Canal Corporation to small businesses, socially and economically disadvantaged individual (“SEDI”)-business owners, businesses in distressed census tracts, and MWBEs. Loans can be used for contract project deployment, advances against inventory, construction costs, purchase orders, managing payables and receivables, contract finance costs, and working capital to support contractors working on a government-funded project in New York State. For additional information, eligibility criteria and a list of participating lenders, please visit Empire State Development’s website.

Bridge to Success Loan
The “Bridge to Success” Loan Program aims to provide qualified Minority and Women-owned Business Enterprises (MWBEs) with access to short-term bridge loans necessary to execute contracting opportunities across New York State, including NYPA and NYS Canal Corporation’s projects. Only New York State–certified minority- and/or women-owned business enterprises (MWBEs) are eligible. Credit terms and decisions are determined by the participating lenders. For additional information, eligibility criteria and a list of participating lenders, please 
Surety Bond Assistance

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%, or $600,000, whichever is less, to secure a surety bond line, bid bond or a performance and payment bond on publicly funded or government-led projects, including those awarded by NYPA and NYS Canal Corporation. For additional information, eligibility criteria and a list of participating lenders, please visit Empire State Development’s website.