COVID 19 Small Business Relief Resource List

COVID 19 Small Business Relief Resource List

LOANS, GRANTS & TAX CREDITS

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.  FAQ

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%.  FAQ

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.

New York Small Business Continuity Loan Fund
This NYC program is available to New York City businesses with fewer than 100 employees that can demonstrate at least a 25% decrease in revenue as a result of COVID-19. Eligible businesses can apply for an interest-free loan up to $75,000.

NYC Employee Retention Grant Program
Program offers small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees.

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.

 

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