Industrial Finance Program- Apply

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In order to apply for IFP assistance, the applicant must complete an Eligibility Review Application and submit four original copies, as well as a non-refundable application fee of $2,500 to EFC. An IFP closing schedule averages approximately 4 to 6 months to fully complete, once all project permitting and New York State Environmental Quality Review Act (SEQRA) requirements are completed. 

There are a number of steps that must be completed before a bond issuance can be executed, including:

  • EFC preparing a project application summary and initial credit report, as well as obtaining a Volume Cap from NYS Division of Budget.
  • EFC's Board of Directors passing an inducement resolution, which establishes eligible expenses for the IFP financing, i.e. soft costs, plus hard costs incurred 60 days prior to inducement.
  • Client completing SEQRA requirement