HomeUJA Core Partner and Strategic Ally Bridge Loan
UJA Core Partner and Strategic Ally Bridge Loan
NOTE: This loan program is now closed. If your agency is seeking a loan to bridge delayed payments on
government contracts, please contact Shana Wertheimer at wertheimers@ujafedny.org.
The UJA Core Partner and Strategic Ally Bridge Loan Program provides interest-free loans of up to $500,000 (or more under extenuating circumstances) for cash flow support for organizations experiencing delays in expected payments on Medicaid, government contracts and other government fee for service programs.
UJA Core Partner and Strategic Ally Bridge Loan Overview
The UJA Core Partner and Strategic Ally Bridge Loan Program provides interest-free loans of up to $500,000 (or more under extenuating circumstances) to designated Jewish community centers, Jewish community councils and health and human service agencies within the UJA-Federation of New York network located in the metropolitan New York City area (New York City’s five boroughs, Westchester, or Long Island). Please Note: Both primary or sub/secondary contractors are eligible to apply.
The loans will provide cash flow support for organizations experiencing delays in expected payments on Medicaid, government contracts and other government fee for service programs.
This program is offered in partnership with UJA.
Decisions will be made within one week of application receipt.
Depending on COVID -19’s long-term impact on organizational economic stability, agencies will have the opportunity once initial funds are repaid to receive additional bridge loans if government funds continue to be delayed. Similarly, if funds are needed based on government contracts not previously included in a request, additional applications can be made.
For Agencies That Have Outstanding Government Funds
A government slowdown in registering signed contracts and issuing payments for social service providers, coupled with the onset of the Coronavirus shutdowns, has caused cash flow problems for many agencies. This program provides interest-free bridge loan financing to assist these agencies during the current turbulent times.
Loans are available up to $500,000 (or more under extenuating circumstances) and must be repaid within the earlier of 6 months of the date of disbursement or 10 days of receipt of payment from the contracting government agency
Agencies that have government funding and seek to apply for cash flow support must:
Provide latest available audited financial statements and auditor management letter (if any).
Provide latest unaudited FY20 YTD Financials.
Provide a list of receivables of government contracts (for example, NYC HHS Accelerator screen shot(s) as applicable).
Provide copies of relevant pages of the contracts.
For Agencies That Have Outstanding Medicaid Funds
The recent government slowdowns that finance Medicaid contracts for social service providers has caused a cash flow problem for many agencies. This program provides interest-free bridge loan financing to assist these agencies during the current turbulent times.
Loans are available up to $500,000 (or more under extenuating circumstances) and must be repaid within the earlier of 6 months of the date of disbursement or 10 days of receipt of payment from the contracting government agency
Agencies that are Medicaid providers and seek to apply for cash flow support must:
Provide latest available audited financial statements and auditor management letter (if any).
Provide latest unaudited FY20 YTD Financials.
Provide the total outstanding Medicaid receivables and the aging report of those receivables.
NOTE:This loan program is now closed. If your agency is seeking a loan to bridge delayed payments on government contracts, please contact Shana Wertheimer at wertheimers@ujafedny.org.
