Int 0510-2024
The provision of bridge loans to contractors.
Due to a slow procurement process, many entities that enter into contracts with city agencies begin to provide services before the agency can pay them. This can make it difficult for contractors to cover their expenses. This bill would require that certain not-for-profit corporations that contract with the Department of Small Business Services to provide economic development services for New York City provide bridge loans to contractors who have contracts with the City that are valued at no more than $500,000 and who are not receiving payments from the City in a timely manner.
DCo-Sponsors (2)
Bill History (5)
More from Farah N. Louis (Sponsor)
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Meetings & Hearings (2)
Documents
Files (8)
Summary of Int. No. 510
1/2/2025
Int. No. 510
1/2/2025
March 7, 2024 - Stated Meeting Agenda
3/7/2024
Hearing Transcript - Stated Meeting 3-7-24
3/20/2024
Committee Report 6/4/24
6/4/2024
Hearing Testimony 6/4/24
6/13/2024
Hearing Transcript 6/4/24
7/6/2024
Minutes of the Stated Meeting - March 7, 2024
8/9/2024