Business Owners

New York Forward Loan Fund

Did you know there 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? New York Forward Loan Fund (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 they can have access to credit as they reopen. Get prequalified as funds are limited.

USB Business Loan Payment Deferral

We recognize that the COVID-19 pandemic may result in disruptions to your business, declines in sales, employee unavailability, a disruption in supply chains, and even temporary business closures. If your financial situation has been adversely impacted by the COVID-19 outbreak, or the measures taken to fight it, we may be able to help!

Small Business Administration

The SBA offers disaster relief in amounts up to $2 million and with terms up to 30 years. You can apply for SBA’s Economic Injury Disaster Loan using the Disaster Loan Application Portal (DLAP). 

Click here for a complete guide of the programs and initiatives offered to small business owners under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

My neighborhood bank (Ulster Savings) notifies me that my loan was approved by the SBA as of this morning. I put my application in on Tuesday morning. They were fantastic and helped me gather all of the documentation required. Small banks rock!
~ 4/9/2020 Twitter Post

Business Reopening

Non-essential businesses in each region of New York will be able to re-open in phases. Eligibility for reopening will be determined by health metrics for each region.

  • Click on Metrics Guide for the latest regional guidelines on infection monitoring and its affect on the phased reopening of businesses.
  • Click on Regional Monitoring to view health statistics by region in New York state.
  • Click on Check Reopening Eligibility to access the tool that will help you determine whether or not your business is eligible to reopen, and the public health and safety standards with which your business must comply.


Paycheck Protection Program

New York Business Development Corporation and affiliates The 504 Company and Excelsior Growth Fund have rebranded as Pursuit, which offers loans to businesses injured by the COVID-19 pandemic.

Ulster Savings Bank is a participating SBA lender and working with Pursuit to provide our customers with a PPP application process. 

I just want to give you (Steve Drobysh, VP Commecial Lending) a big thank you for all your help with the PPP loan by sending me the document check list and the loan calculator ahead of time. It made me more prepared with the proper documents and the application was so much easier to submit. With your help, our loan was approved today. I was notified by the VP of Lending at Pursuit that we should have funding within 10 days! Thank you again.
~ 4/9/20 E-mail Submitted by a Satisfied and Happy Customer

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