Bridge to Success Loan Program

Objective

Empire State Development (ESD) expands access to short-term loans for New York State–certified minority- and women-owned firms doing business with New York State. The Bridge to Success Loan Program is investing at least $20 million to expand access to short-term bridge loans for minority- and women-owned business enterprises (MWBEs).

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Overview

Overview

Short-term loans are available to qualified MWBEs to boost their ability to participate in contracting opportunities with New York State.

  • Loans typically range from $75,000 to $200,000
  • Loan terms typically range from eight to 18 months
  • Participating lenders make credit decisions and determine interest rates and applicable fees
  • Bridge to Success lenders receive ESD incentive funds to stimulate lending and take on any additional loan risk

Eligibility

Only New York State–certified minority- and/or women-owned business enterprises (MWBEs) are eligible. Learn more about becoming a certified MWBE.

How to Apply

To apply, contact one of the following participating lenders. For program questions, please call the NYS MWBE Resource Line: (855) ESD-4MWB (855-373-4692).

New York Business Development Corp (NYBDC)
Steven Willard, Senior Vice President
Phone: (518) 694-8552
Email: swillard@nybdc.com
Web: www.nybdc.com
Available Statewide

SEFCU
Teri Kappler, Business Solutions Advisor
Phone: (866) 733-2880 x6005
Email: tkappler@sefcu.com
Web: www.sefcu.com
Available in Western NY, Finger Lakes, Southern Tier, Central NY, Mohawk Valley & Capital District

Tompkins Mahopac Bank
Ronald Ferri, Vice President, Small Business Lending
Phone: 845-278-1027
Email: rferri@TompkinsFinancial.com
Web: www.mahopacbank.com
Available in Mid-Hudson only

TruFund Financial Services, Inc.
Aisha Benson, Senior Vice President, New Markets Tax Credits/NY Managing Director
Phone: 646-732-9919
Email: abenson@trufund.org
Web: www.trufund.org
Available in Mid-Hudson & Long Island

Carver Federal Savings Bank
Steven Berrios, Commercial Loan Officer
Phone: 718-230-2900
Email: businesslending@carverbank.com
Web: www.carverbank.com
Available in New York City only