Bridge to Success

Bridge to Success is a loan program designed to give MWBE-certified businesses in New York state the best chance possible of securing and performing on government contracts. If you are looking for short term capital to fund the early stages of a contract, or to demonstrate the financial stability needed to submit a bid, NYBDC and Bridge to Success can help. By accessing Bridge to Success, an Empire State Development program, through NYBDC, you’ll work with an experienced lender with more than 60 years of experience helping entrepreneurs access the capital needed to grow.

 

Program Highlights 

  • Short Term Bridge Loans
  • Affordable Interest Rates
  • Flexible Loan Requirements

  

Program Details


Use of Funds

  • Working capital for businesses seeking contracts with the State of New York – hire staff, buy materials, purchase equipment and more

Interest Rates

  • Prime + 4.0% (currently 7.5%)

Loan Amounts

  • Lines of credit up to $200,000

Repayment Terms

  • 12-18 months

Requirements and Collateral

  • Primary collateral is an assignment of contract proceeds for each contract financed under the line; other collateral requirements may apply on a case-by-case basis

  • Personal guarantees required for any 20% or more owner


 Ready to Apply?

 

 

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