New York Commercial Finance Disclosure Law (CFDL) — Effective August 1, 2023
New York requires all commercial finance providers to disclose before signing: total amount funded, total repayment amount, total finance charge, APR equivalent, term, and prepayment policy. T.A.G. Business Funding provides a full CFDL-compliant disclosure on every New York MCA offer. If you receive an MCA offer in New York without this disclosure, request it in writing before signing.
New York Markets
Contractor Funding by New York Region
Manhattan / Midtown
One of the highest-value construction markets on earth. High-rise commercial, luxury residential renovation, and infrastructure work. Prevailing wage rates of $60–$150/hour mean bi-weekly payroll is enormous relative to GC draw cycles.
Typical: $50K–$350K
Brooklyn / Queens
Massive mixed-use and residential construction across Williamsburg, Long Island City, and DUMBO. Amazon HQ2-area development in Queens. Affordable housing (421-a) projects with complex draw schedules.
Typical: $30K–$250K
Bronx / Staten Island
Bronx affordable housing construction, Yankee Stadium area development, and Staten Island commercial expansion. DoT infrastructure subcontracts. Consistent public-sector project revenue.
Typical: $20K–$150K
Long Island / Westchester
Commercial and residential renovation, healthcare facility construction, and MTA transit work. Long Island contractors working on LIPA utility infrastructure and residential renovation have strong deposit profiles.
Typical: $20K–$200K
Buffalo / Rochester / Syracuse
Buffalo's Canalside and downtown revitalization. Rochester's medical campus construction (U of R Medical). Upstate NY CHIPS Act semiconductor facility construction creating major subcontractor demand through 2027+.
Typical: $15K–$120K
Albany / Capital Region
New York State government campus work, GlobalFoundries fab construction in Saratoga County, and Hudson Valley commercial development. Consistent state-adjacent project revenue.
Typical: $10K–$100K
Qualification
New York Contractor MCA Requirements
Minimum Monthly Deposits
$10,000/month
Minimum FICO Score
500 (soft pull only)
Time in Business
4+ months operating
Documents Required
6 consecutive months bank statements + application
Advance Range
$15,000–$350,000
NY CFDL Disclosure
Required — provided before signing
FAQ
New York Contractor Funding — FAQ
Can a New York contractor get MCA between draw cycles?
Yes. NYC GCs issue draws every 30 days, but prevailing wage labor must be paid bi-weekly. A NYC contractor averaging $150,000/month in deposits may qualify for $112,500–$225,000 within 24 hours to bridge the payroll gap.
Does New York require commercial finance disclosure for contractors?
Yes. New York's CFDL (effective August 1, 2023) requires disclosure of total funded amount, total repayment, finance charge, APR equivalent, term, and prepayment policy before signing. T.A.G. provides CFDL-compliant disclosure on every NY offer. If you receive an NY MCA offer without this disclosure, request it before signing.
Can a New York contractor use MCA for prevailing wage payroll?
Yes. Prevailing wage projects in NY (public works, DOT contracts, MTA projects) require labor rates of $60–$120/hour or more depending on trade. MCA is one of the only capital sources fast enough to bridge the gap between GC draws and bi-weekly prevailing wage payroll obligations.
Can a New York contractor use MCA for Upstate CHIPS Act semiconductor construction?
Yes. The CHIPS Act semiconductor facility construction in Central and Western NY (GlobalFoundries expansion, proposed Micron facility near Syracuse) is creating massive subcontractor demand through 2027+. These projects have milestone-based draw schedules that create significant working capital gaps. MCA can bridge milestone gaps for Upstate NY contractors working on fab construction.
How fast can a New York contractor get funded?
Most NY contractor applications receive a decision within 2–4 hours. NYC contractors submitting complete files before noon Eastern time are eligible for same-day wire funding.
Related Pages
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