Transportation Capital Assistance Program

Program Purpose
ESD administers this loan program for the New York State Department of Transportation (NYSDOT). The program provides government contractor working capital loans to small business enterprises and NYS-certified minority and women-owned business enterprises (MWBEs) that have transportation-related construction contracts with NYSDOT or who are subcontractors of contractors having transportation-related contracts with NYSDOT.

Program Highlights
The program offers loans from $20,000 to $500,000, with a prime interest rate fixed at closing. Terms will be coterminous with the term of the contract.

Contractors that have been awarded a contract but have not yet begun work on the contract are eligible. Applications are accepted continuously.

Application Process

  • NYSDOT receives applications, screens for eligibility, performs due diligence and prepares complete application packages for ESD review.
  • NYSDOT arrange technical assistance for applicants to complete loan application and preparation of information for the application.
  • ESD Directors approve those applications receiving favorable recommendation.
  • At each loan closing, up to 50% of the annual value of the contract, but not more than $500,000, may be advanced to the prime or sub-contractor.
  • Upon closing, proceeds from the contract are directly assigned to ESD. (In the case of loans to sub-contractors, NYSDOT requests prime contractors to consent to assignments by their sub-contractors in favor of ESD.)
  • On receipt of contract proceeds, ESD will take out all accumulated loan repayments to date (including accrued interest and amortized principal) and remit the remaining amount to the applicant borrower.

At NYS Department of Transportation:     LaTonya Tinsley or call (518) 457-1129