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Local law · Int 1350-2025

Small business loan readiness resources

Official titleShow

A Local Law to amend the administrative code of the city of New York, in relation to small business loan readiness resources

The heading above is this same sentence with its legal opening removed. No words were added, changed or reordered.

Latest action Jan 20, 2026

New York City Council

Sponsor

Amanda C. Farías

Council Member, District 18 · Democratic

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Summary

This bill would require the Department of Small Business Services (SBS) to provide loan readiness resources to help small businesses prepare for the lending process and understand the services offered by Community Development Financial Institutions (CDFIs). These resources would include assistance with business plan development, preparation of financial documents, and understanding loan application requirements.

Summary from NYC Council (Legistar). How we handle summaries

From the NYC Council's legislative record (Legistar) and official rosters. This record was last updated Aug 1, 2026. About our data

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Where it stands

Became law without the Mayor's signature.

  1. Introduced
  2. In committee
  3. Up for a vote
  4. Passed one chamber
  5. Passed
  6. Enacted

Committee

Committee on Small Business

Cosponsors

Farah N. Louis, Justin L. Brannan and 4 others

Cosponsors in the order the New York City Council lists them.

  • Democratic5

Party is shown for the 5 cosponsors who are on Agora.

Shown in neutral colors by design; Agora is non-partisan.

Names without a link are in the official record but not on Agora.

Recorded votes

  • Vote: Approved by Council

    NYC CouncilDec 18, 2025Result: passed

    (47) (1) (0) (3)

  • Vote: Approved by Committee

    Committee on Small BusinessDec 18, 2025Result: passed

    (6) (0) (0) (1)

Full history

  1. Jan 20, 2026

    Returned unsigned by the Mayor

    This Introduction was Returned Unsigned by Mayor

    NYC Council

  2. Jan 17, 2026

    Adopted

    This Introduction was City Charter Rule Adopted

    Administration

  3. Dec 18, 2025

    Passed a chamber

    A motion was made that this Introduction be Approved by Council approved by Roll Call.

    NYC Council

  4. Dec 18, 2025

    Amended

    This Introduction was Amended by Committee

    Committee on Small Business

  5. Dec 18, 2025

    This Introduction Was Amendment Proposed by Comm

    This Introduction was Amendment Proposed by Comm

    Committee on Small Business

Show full history (7 earlier events)
  1. Dec 18, 2025

    Committee vote

    This Introduction was Approved by Committee

    Committee on Small Business

  2. Dec 18, 2025

    Hearing held

    This Introduction was Hearing Held by Committee

    Committee on Small Business

  3. Dec 18, 2025

    Sent to the executive

    This Introduction was Sent to Mayor by Council

    NYC Council

  4. Oct 15, 2025

    Hearing held

    This Introduction was Hearing Held by Committee

    Committee on Small Business

  5. Oct 15, 2025

    Held over

    This Introduction was Laid Over by Committee

    Committee on Small Business

  6. Aug 14, 2025

    Introduced

    This Introduction was Introduced by Council

    NYC Council

  7. Aug 14, 2025

    Referred to committee

    This Introduction was Referred to Comm by Council to the Committee on Small Business

    NYC Council