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COVID-19 Resources for Businesses

COVID-19 Resources for Businesses and Nonprofits

We are assisting businesses and non-profits which have been adversely impacted by the COVID-19 crisis. Below are a few of the emergency assistance programs that have been rolled out recently. 

We have a more comprehensive summary of business relief resources that is updated daily to reflect the latest developments. To receive a free copy, please submit your email (via form on right-hand side).

Download Full COVID-19 Resource Guide

Receive a free download of our more comprehensive research consisting of a curated list of business relief programs for for-profit and nonprofit business organizations.

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Federal

SBA Paycheck Protection Program (PPP)
Provides loans of up to $10M available to eligible small businesses and nonprofits. Loans are forgivable to the extent that proceeds are used within 8 weeks for payroll, healthcare expenses, mortgage interest and rent.

SBA COVID-19 Economic Injury Disaster Loan (EIDL) Program
Provides small businesses and nonprofits with loans up to $2 million to help overcome temporary loss of revenue. Long term repayment options, with interest rates not to exceed 3.75%.

SBA Emergency Grants (Loan Advance)
Grants of up to $10,000 are available to small businesses to cover immediate operating costs. Eligibility is the same as that of the Economic Injury Disaster Loan Program.

SBA Express Bridge Loans (EBL) Pilot Program
Through participating SBA Express Lenders, small businesses can access expedited SBA-guaranteed bridge loan or term loan financing up to $25,000.

Federal Payroll Tax Credits
Through the Families First Coronavirus Response Act, eligible employers can take advantage of refundable tax credits to offset the costs of newly authorized paid sick leave and childcare leave benefits.

State and City

NYS on Pause
Governor Andrew Cuomo announced the “New York State on PAUSE” 10-point policy executive order effective at 8pm Sunday, March 22. Includes “Essential Businesses Guidance” to assist businesses in understanding if they are subject to mandatory workforce reductions.

PSC Order Utilities to Suspend Rate Increases
This Public Service Commission order effectively postpones rate increases for nearly 2 million consumers of New York American Water and National Grid upstate.

NYS Tax Filing Deadlines Extended In Response to COVID-19
The New York State personal income tax and corporation tax returns have been extended to July 15, 2020.

Private

Emergency Small Business Relief Loan Fund
Provides loans to small businesses with 50 employees or fewer and can demonstrate at least a 25% decrease in sales due to COVID-19. Eligible companies must be based in specific neighborhoods of Manhattan, Queens, or Brooklyn.

Facebook Small Business Grants
Program offers $100M in cash grants and credits for Facebook advertisements for up to 30,000 eligible small businesses worldwide.Food and Beverage Industry Relief Fund
Provides emergency funding to restaurant/bar owners and their employees.

NYC COVID-19 Response & Impact Fund
$75M loan fund for making loans to NYC nonprofit organizations working in the human services. Focus on assisting organizations working in essential healthcare, food delivery, homeless services, workforce development, education, and arts/culture.

Verizon-LISC Small Business Recovery Fund
LISC will provide grants of up to $10,000 to businesses facing immediate financial pressure because of COVID-19—especially entrepreneurs of color, women-owned businesses and other enterprises in historically underserved communities.

Here are ways for New Yorkers can help during this crisis: