New York State Contract Reporter #2137620

Administration of NYS Minority and Women Revolving Loan Trust Fund Program

Empire State Development (ESD), New York State's economic development agency, is seeking organizations to administer the Minority and Women Revolving Loan Trust Fund (MWRLTF): - Government Buyer: - Empire State Development (ESD), New York State - Program Overview: - Administering Corporations will manage Trust Fund Accounts up to $1,000,000 each - Total program allocation is $15,000,000 - Loans provided: - Up to $35,000 for working capital - Up to $50,000 for acquisition of real property, machinery, and equipment - Targeted to support Minority-Owned Business Enterprises (MBEs) and Women-Owned Business Enterprises (WBEs) statewide - Eligible Applicants: - Empire zone capital corporations - Community-based local development corporations - Industrial development agencies - Not-for-profit entities - Federally certified Community Development Financial Institutions (CDFIs) - Notable Requirements: - Dedicated loan committee with experience and diversity criteria - Compliance with New York State prequalification standards - Robust data collection and reporting - No cost-match required; indirect costs are prohibited - Special consideration for regions with unmet demand - No specific OEMs or commercial vendors are named, as this is a program administration opportunity, not a product procurement.

Description

Empire State Development (ESD) is requesting applications for the administration of the Minority and Women Revolving Loan Trust Fund (MWRLTF). The program provides working capital loans up to $35,000 and loans up to $50,000 for acquisition of real property, machinery, and equipment to support Minority-Owned Business Enterprises (MBEs) and Women-Owned Business Enterprises (WBEs) in New York State. Eligible Administering Corporations will manage loan applications and administration to promote economic development. The total grant award for selected Administering Corporations can be up to $1,000,000, with applications due by August 31, 2026.

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