COVID-19 Business Assistance Resources 

Below please find the latest information available to assist businesses impacted by the COVID-19 pandemic. 

Last Update: 6/16/20 

Helpful Resources for Businesses 

EIDL UPDATE
Economic Injury Disaster Loans (EIDL) are reopening, beginning June 15, for small businesses and nonprofits affected by COVID.  Click here for more information. 

Here is a helpful article about the new federal grants available. 

Below please find additional useful information relating to the re-opening of the economy:


CDC Small Business Guide for Re-Opening

FAQ for Businesses

Community Reopening Guidance


From the US Chamber of Commerce
Coronavirus Emergency Loans:
Small Business Guide and Checklist
From the
US Senate Committee on Small Business & Entrepreneurship

The Small Business Owners's Guide to the CARES Act


Paycheck Protection Program (PPP)
 

Below please find information pertaining to the PPP. Small businesses or independent contractors interested in this program, should contact their bank or financial institution for further guidance.


Small Business Administration (SBA)

The SBA is offering capital working loans up to $2 million to impacted businesses to help overcome the temporary loss of revenue they are experiencing. Here are some key points about the Economic Injury Disaster Loans (EIDL):

  • They're available to qualifying small businesses with no other access to credit and can be used to pay fixed debts, payroll, accounts payable and other bills that can't be paid because of the disaster’s impact.
  • The interest rate is 3.75% for small businesses and 2.75% for non-profits.
  • They offer long-term repayment options, up to a maximum of 30 years.
  • The Loan is a direct loan through SBA, with no intermediaries. 

U.S. Chamber of Commerce

Click here for the Chamber's online Coronavirus Small Business Guide. 

NYC Financial Assistance for Businesses Impacted by COVID-19

NYC (Small Business) Employee Retention Grant Program

The City is offering small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees.

Eligibility Criteria: Businesses, including Non-Profits, must:

  • Be located within the five boroughs of New York City.
  • Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue.
  • Employ 1-4 employees in total across all locations.
  • Have been in operation for at least 6 months.
  • Have no outstanding tax liens or legal judgements. 

New York City Small Business Continuity Fund

Small businesses located in New York City that have been financially impacted by the pandemic are eligible to access the New York City Small Business Continuity Fund for interest-free loans up to $75,000 for businesses that meet the following requirements:

  • Located within one of the five boroughs of New York City
  • Experienced at least a 25% decrease in revenues
  • Employ less than 99 employees, and
  • Do not have any outstanding tax liens or legal judgments. 

Eligible small businesses interested in applying for a Fund loan should be prepared to provide substantiation of the business’s drop in revenue from point of sale reports, bank statements, quarterly sales tax filings or CPA certified profit and loss statements, the business’s most recent tax returns (tax year 2019 if available) and demonstration that the business will be able to repay the loan. Business owners may apply online (Pre-Application for the NYC Small Business Continuity Loan Fund). Additional questions should be emailed to [email protected]

 

Professional Network

Association Management Compnaies Institute Association Executives of North CarolinaInternational Association of Travel Agents Network