Inclusiv Launches Groundbreaking Initiative to Help Small Businesses in New York State
Applications are Now Open for Inclusiv Business Forward to Connect NY Entrepreneurs with Affordable Loans through CDFI Credit Unions
New York, NY (July 15th, 2025) -Inclusiv is proud to officially announce Business Forward, a new small business lending initiative, made possible by a $5 million investment from New York State Empire State Development (ESD) through the State Small Business Credit Initiative (SSBCI). Inclusiv Business Forward aims to increase much needed access to capital for NYS small businesses and serves as a blueprint for other states to deploy SSBCI funding to provide capital and technical assistance to promote small business stability, growth, and success.
The initiative will connect New York State entrepreneurs with affordable small business loans through CDFI credit unions. NYS-based small businesses in underserved communities can now apply for loans ranging from $50,000 up to $500,000 by visiting inclusiv.org/bizforward.
Inclusiv will match qualifying small businesses with our partner CDFI credit union lenders, to provide the affordable loans needed for small businesses to grow. CDFI credit unions are the perfect lending partners as they are already providing safe, affordable financing options for communities historically left out by traditional banks.
Inclusiv has also partnered with Member Business Financial Services (MBFS), to manage Business Forward’s loan process. MBFS is a commercial lending service provider owned by credit unions.
The Business Forward initiative is part of Inclusiv’s Small Business Capital Initiative which is supported by the Mastercard Strive USA initiative. Their seed funding is now leveraging state and federal investment, like ESD’s, to help small businesses through credit unions. Inclusiv’s Small Business Capital Initiative Learning Center also includes our, Loan Participation Marketplace and Loan Loss Fund and Loan Processing and Servicing support.
Inclusiv will leverage this historic investment by ESD to purchase more than $15 million in small business loans from CDFI-certified credit unions with a strong track record of serving low-income and underserved communities in New York State. Thanks to this initiative, Inclusiv will help CDFI credit unions make more loans to small businesses in their community by purchasing portions of each small business loan under $500,000 -- freeing up lending capital the credit union can use to help another borrower.
Aside from providing needed liquidity, Inclusiv Business Forward hopes to expand the small business ecosystems of CDFI credit unions. The long-term plan is to advance both community impact and lending growth.
For more information about Inclusiv Business Forward, visit Inclusiv.org/bizforward.