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Coronavirus Resources

The members of the NYS CDFI Coalition are already reporting that their communities are being hit hard by the consequences of the Coronavirus. We are working with our partners at the Federal, State and local levels to continue to deliver financial resources and stability to our neighbors.

In the following weeks and months, we are planning to develop and deliver information – updates, webinars, and conference calls – that will help our members deal with both short-term and long-term impacts of the Coronavirus pandemic.

We’ll also continue to share news you can use – state and federal policy updates, calls to action and best practices – from across the industry. Please visit the resource page on our website at - we’ll be updating this list as additional information becomes available.

We urge you to take care of yourselves and your neighbors, and to watch your inbox for updates. The NYS CDFI Coalition is working to muster all the resources we can to help our members across New York State, and we thank you for your support.

NYS Truth in Lending Act Advances

The headlines may be all about Coronavirus, but some New York State lawmakers are already introducing legislation that will help small businesses recover once the crisis is over.

The Responsible Business Lending Coalition (RBLC) recently endorsed A10118 and thanked Assemblyman Ken Zebrowski (D-Rockland County) for his support of New York small businesses. This legislation will bring common-sense transparency standards to small business financing in the State of New York at a time when it’s needed most. The companion bill in the New York State Senate S0547A is sponsored by Senator Kevin Thomas (D-Nassau County.)

We've posted an update on our website with a link to the full announcement from the RBLC.

Additional Counties Eligible for Disaster Loans

At this time, only businesses in certain counties in NYS can apply for Disaster Loans through the U. S. Small Business Administration - Dutchess, Putnam and Westchester.

However, a new interpretation of the rule finds that due to the contiguous county nature of the SBA declaration, with counties in CT, PA and NJ already eligible, businesses in all of the following counties may apply for SBA funding. 

The Coalition will continue to monitor the situation and provide updates as they become available. 

  • Dutchess
  • Putnam
  • Westchester
  • Bronx
  • New York
  • Orange
  • Rockland
  • Columbia
Our Mission

Our mission is to position CDFIs as the most effective strategy and policy tool to address issues of financial inclusion, housing access and economic opportunity in New York State. Please visit our website to learn more.
New York State Community Development Financial Institutions Coalition
Copyright © 2020 New York State CDFI Coalition, All rights reserved.

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