Cash Flow Loan Program
The Fund for the City of New York provides nonprofit bridge loans through our Cash Flow Loan Program. Nonprofit organizations receive bridge financing and capital loans to continue operating and providing vital programs and services without disruption while waiting for committed funds from government and foundations. With its quick processing time, minimal service charge and no interest, the Cash Flow Loan Program plays an invisible but vital role in keeping many nonprofits functioning smoothly.
Cash flow when you need it
With an unprecedented application processing time between 3 to 5 days, you can be assured that you can pay your bills on time with no disruption to your payroll or program.
Interest rate? What interest rate?
Of the Fund’s three loan programs, one is at no-cost and the other two carry a one-time service fee of just 2%, which is only deducted when loan funds are disbursed. Our loans allow your organization to utilize more dollars on where it matters—your programs.
We look for the YES instead of the NO.
The Cash Flow Loan Program works with your organization to get you the financial assistance you urgently need. The Fund prides itself on being committed to finding ways to make sure your organization can continue to provide vital services.
Loan Options
FCNY Operating Loan Fund provides bridge financing to non profit organizations, enabling them to continue operating without a disruption of services while waiting for committed funds. Cash Flow Loans carry no interest and no origination fee–just a one-time 2% service fee.
Eligibility
All 501©3 non profit organizations providing services in the New York City metropolitan area are eligible.
What to Expect
Upon receipt of loan application and support documents, we will respond within 48 hours and loans are typically approved within 3-5 business days.
Inquire HereAbout the Returnable Grant Fund (RGF)
Established in 1992 through a partnership with the Mayor’s Office and the Office of Management and Budget, the Returnable Grant Fund provides interest-free, fee-free loans to organizations facing delays in City funding. These loans offer short-term cash advances against City contracts that are either pending registration, or experiencing funding release delays, helping organizations manage critical expenses during these gaps.
Eligibility
To be eligible for an RGF loan, organizations must be either a nonprofit organization (501(c)(3) status) contracting with the City of New York, or a for-profit organizations delivering human/client services and/or goods.
Providers may apply for critical expenses against their City contract or funding agreement. The contract is the City’s guarantee of loan recoupment—the applicant’s contracting City agency will use contract funds to repay the RGF. Eligibility and loan amounts are approved by the contracting City agency and the NYC Mayor’s Office of Contract Services (MOCS).
What to Expect
Upon loan approval from MOCS, the Fund for the City of New York (FCNY) will contact the individuals listed as the CEO/Executive Director or Authorized Loan Signatory in the application. The loan is available within 3 business days.
How to Apply
Download Form, complete and submit to your contracting city agency.
For questions about critical expenses or the status of your contract, please contact your contracting City agency directly.
Download RGF Application
Designed to assist small to mid-sized cultural arts organizations with approved capital project expenses, the Cultural Arts Capital Loan Fund provides bridge financing to non profits to help cover upfront and/or initial costs needed to begin or continue capital projects. Capital loans carry no interest and no origination fee–just a one-time 2% service fee.
Eligibility
All 501(c)3 small to mid-sized nonprofit cultural arts organizations with capital projects are eligible, with a priority to groups that have capital grants from the City of New York and the Department of Cultural Affairs. BIPOC-led organizations are strongly encouraged to apply.
What to Expect
Upon receipt of loan application and support documents, we will respond within 48 hours and loans are typically approved within 3-5 business days.
Inquire HereFAQ
Please review the information below to find answers to frequently-asked questions.
The fee to process the loan is two (2) percent, which will be deducted when loan funds are disbursed. If the loan is not repaid within the agreed-upon terms, an additional service fee may be charged.
The typical repayment period is between 60-90 days. Capital loans tend to average around 6+ months due to the complexity of reimbursements.
RGF loans have no interest or service fees.
The maturity date is determined by the Mayor’s Office of Contract Services based on the status of the pending contract.
First time borrowers will be invited for a meeting to discuss their applications and terms of the loan. They can expect to receive funds within three to five days of approval. Return borrowers in good standing can receive funds one to three days from approval of the loan.
For more information please reach out to Andrew Walrond, Vice President of Loan Programs, at awalrond@fcny.org (212.925.6675).