Eligibility
All New York City vendors whose contracts are not yet registered with the Comptroller’s Office are eligible for a Returnable Grant Loan (RGF) through the Fund for the City of New York (FCNY). The amount of the RGF loan is determined by the contracting agency and the Mayor’s Office of Contract Services (MOCS). In addition, loans are for necessary operating expenses, such as payroll, rent and utilities, for the period covering the loan submission date until the estimated contract registration date.
Process
- As soon as a vendor submits all required contract documents to the Contract Analyst at the Mayor’s Office of Criminal Justice, the vendor should also submit an RGF loan application.
- When the ACCO has approved the loan application, the ACCO will send it to MOCS.
- Once MOCS approves the application, it will authorize FCNY to make the loan.
- The loan funds will be available to the nonprofit within 24-48 hours of receiving the request from MOCS. The funds are triggered by a signed loan agreement between the nonprofit and FCNY.
For the Returnable Grant Fund Loan page click here: https://www.fcny.org/fcny/core/cfl/rgf/
To access the loan application form here for submission to your Contract Analyst at MOCJ, click here: click here