ORGANIZATIONS & RESOURCES TO KNOW
Note: Information regarding financial assistance from federal and state governments for COVID-19 related expenses is constantly changing. Consult with U.S. Small business Administration (www.SBA.gov) and New York State Empire State Development (www.esd.ny.gov) for the most current program availability.
Paycheck Protection Program (PPP)
The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Borrowers may be eligible for PPP loan forgiveness.
Shuttered Venues Operators Grant
The Shuttered Venue Operators (SVO) Grant program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, signed into law on December 27, 2020. The program includes $15 billion in grants to shuttered venues, to be administered by the SBA’s Office of Disaster Assistance.
Targeted Economic Injury Disaster Loan Advance
COVID-19 Targeted EIDL Advance was signed into law on December 27, 2020, as part of the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. The Targeted EIDL Advance provides businesses located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency. Advance funds of up to $10,000 will be available to applicants located in low-income communities who previously received an EIDL Advance for less than $10,000, or those who applied but received no funds due to lack of available program funding.
New York Forward Loan Fund
The New York Forward Loan Fund (NYFLF) is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small residential landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE. The NYFLF targets the state’s small businesses with 50 or fewer full-time equivalent (FTE) employees (90% of all businesses), nonprofits and small residential landlords that have seen a loss of rental income.
New York Forward Small Business Lease Assistance Partnership
The New York Forward Small Business Lease Assistance Partnership (LAP) is a public-private partnership between Empire State Development, the nonprofit Start Small Think Big, and the New York Bar Association, to help avoid business evictions. The initiative provides commercial tenants and small business landlords with pro bono legal services, and the information needed to reach a mutually agreeable lease renegotiation.
Empire State Digital
Through unique partnerships with leading global e-commerce and e-payment providers, Empire State Digital connects New York-based small businesses with the education, access and resources needed to digitize, expand and adapt to the new economy due to the changes from COVID-19.
COVID-19 Funding Options
A resource of private funding options to help small businesses compiled by the U.S. Small Business Administration.
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