Capital Project Loan FundCapital Project Loan Fund

CPLF share of project cost

Up to 40%; up to 60% for projects in Empire Zones or economically distressed areas

esd.ny.gov

Typical structure

50% bank loan, 40% CPLF loan, 10% borrower equity

esd.ny.gov

Combined financing

Bank loan plus CPLF loan can finance up to 90% of the project

esd.ny.gov

Lien position

Real estate: normally a second mortgage subordinate to the bank's first mortgage. M&E: first lien co-equal with the bank's lien on the financed equipment

esd.ny.gov

SSBCI allocation

$54 million

esd.ny.gov

• Facilities used for manufacturing, distribution, warehousing and certain service businesses in New York State.esd.ny.gov
• Eligible uses: buying and renovating an existing building, buying land and constructing a new building, related soft costs, and acquisition of machinery and equipment that is fixed to the building.esd.ny.gov
• Not eligible: retail facilities that customers visit in person, hotel or residential facilities, motor vehicles, working capital, and M&E installation costs.esd.ny.gov

• The participating bank provides the senior financing, typically 50% of project cost, and issues a commitment letter for it.esd.ny.gov
• Under federal SSBCI rules the lender gives the state assurances that the supported loan is not made to move the lender's prior uncovered debt into the program, is not a refinancing of the lender's or an affiliate's own earlier loan (except as the refinancing rules allow), and that no principal of the lender has been convicted of a sex offense against a minor.home.treasury.gov

• The borrower must secure a commitment letter from the bank providing the 50% portion of the financing.esd.ny.gov
• The borrower must contribute at least 10% of project cost as equity.esd.ny.gov
• Personal guarantees are required from anyone owning 20% or more of the operating company.esd.ny.gov
• Under federal SSBCI rules the lender must obtain an assurance from the borrower that no principal of the borrowing business has been convicted of a sex offense against a minor.home.treasury.gov

• Program pageTreasury SSBCI Capital Program Summaries: New YorkVersion Program information updated March 2026home.treasury.gov
• GuideSSBCI Capital Program Policy Guidelines (U.S. Treasury)Version November 2021home.treasury.gov
• GuideSSBCI Frequently Asked Questions (U.S. Treasury)Version Updated November 10, 2026home.treasury.gov

• Nov 10, 2026Guide

  Treasury publishes SSBCI post-program FAQs

  Treasury's authority to run the SSBCI Capital Program ends on March 11, 2028. SSBCI money already sent to a state stays with the state after that date, and from then on a state may end a program, add one, change its scope or move funds between programs without Treasury approval. States may submit material modification requests to Treasury until September 30, 2027.

  What to do: Expect the state to be free to change or close this program after March 11, 2028. Confirm the current terms with the program office before relying on them for loans that will be enrolled or claimed after that date.

  Read the source
• Oct 30, 2025Guide

  Treasury sets the final SSBCI disbursement deadlines

  Treasury cannot transfer SSBCI Capital Program funds to states after March 11, 2028, and states must submit final disbursement requests by December 31, 2027. Treasury expects to terminate a state's second and third tranches if, within three years of its allocation agreement, the state has not used at least 80 percent of its first tranche and asked for the next disbursement.

  What to do: Program capacity beyond the tranches the state has already received depends on the state meeting these deadlines. Check with the program office that funds are available before committing a borrower to an SSBCI-supported structure.

  Read the source

There is no separate lender enrollment. The bank makes the senior loan and the borrower applies to ESD for the CPLF companion loan by contacting Dana Ochia, Director, Small Business Liaison and Outreach, at (212) 803-3149 or nylovessmbiz@esd.ny.gov.

• ESD Small Business Liaison and Outreach (nylovessmbiz@esd.ny.gov, 212-803-3149)
• Treasury contact listing (CPLF@esd.ny.gov)