NYC Council Introduction 1350

intro.nyc/1350-2025 2024-2025 Legislative Session
Small business loan readiness resources.
Status: Committee Committee on Small Business
Sponsored by Amanda Farías
Introduced: August 14, 2025

This bill would require the Department of Small Business Services (SBS) to provide loan readiness resources to help small businesses prepare for the lending process and understand the services offered by Community Development Financial Institutions (CDFIs) and other lenders. These resources would include assistance with business plan development, preparation of financial documents, and understanding loan application requirements.