NYS Contractor Financing Program

Do you need working capital for contracts with government agencies in New York State? Cooperative Federal is here to be your banking partner.

The Contractor Financing Program offers scalable funding for government contractors and vendors, so you can bridge the gap to growth.

Eligible Contracts

The NYS Contractor Financing Program is for businesses that are Prime or Subcontractors working on government-backed Projects and Procurements. 

This includes projects connected to:

• New York State Agencies

• Municipalities, Counties, Towns, Villages, and Public School Districts in NYS

• Other legally recognized government entities

Loan Uses

We offer up to $500,000 in the form of Lines of Credit. We have no minimum loan amount.

Loan proceeds can be used for:

• Working Capital
• Improvement of Machinery or Equipment
• Other costs related to eligible Contacts

This program is designed to support contract project deployment, advances against inventory, construction costs, purchase orders, managing payables and receivables, contract finance costs, and general working capital. 

Eligible Businesses

Your business may be eligible for the NYS Contractor Financing Program if it meets each of the following criteria:

• Eligible for membership in Cooperative Federal
  • Our service area for Business Loans includes the Central New York region: Onondaga, Oswego, Madison, Cortland and Cayuga counties.  
• Qualifies as a Small Business - with no more than 100 full-time equivalent employees
  • Cooperative Federal is dedicated to economic opportunity for all. We encourage businesses owned by women, BIPOC, English Language Learners, people with disabilities, veterans, LGBTQIA+, or low-income individuals to work with us, as well as businesses in underserved areas. 
• For Profit Entity
  • Nonprofit organizations: Please contact us about other programs that may meet your needs. We offer bridge loans to assist with grant-funded projects. 
• Independently owned and operated
• Located and authorized to do business in New York State

Additional eligibility restrictions apply. Please submit your application or contact us for more information. 

Advising and Support

Cooperative Federal offers free education and advising to help businesses start, stabilize and expand.

The NYS Contractor Financing Program is made possible, in part, through a partnership with NYS Empire State Development.

All Credit Union loan programs are subject to application and credit approval. Membership eligibility required. Other restrictions may apply. Products, rates, terms, and conditions are subject to change at any time without notice. Contact us for current rates, terms, and conditions.