Small Business Resources
This is information from what the City is providing. The Federal Government is still discussing their package of help but today’s White House press conference says it will be coming asap.
There are two offers for small businesses in NYC. We know they are not ideal at this stage but we have been assured the program is being looked at over time.
**1-4employees**
Small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees. You will need to demonstrate a reduction of 25% in revenue over the previous two months to those same two months in 2019. The applications are rolling so you can apply at anytime when you can show a drop in revenue. The applications are now live.
https://www1.nyc.gov/site/sbs/businesses/covid19-business-outreach.page
**Businesses with under 100 employees**
Businesses with between 5-99 employees who have seen sales decreases of 25% or more will be eligible for zero interest loans of up to $75,000 to help mitigate losses in profit. Going live next week but fill out this interest form and you will get the application when it goes live.
**Business Interruption Insurance**
The State is talking with insurance companies to adjust coverage to include damage and losses related to Covid-19. Stay tuned.
We will share information on any new help as soon as we hear but head to our Merchant Assistance Page for info on SBA loans and Kiva Crowd funding.
