This is an ongoing post that will be regularly updated. Last updated: May 26
The COVID-19 outbreak has resulted in the closure or reduced service of many businesses. In March, the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act was signed into law. This $2 trillion law provides about $360 billion in relief to small businesses and nonprofits.
The CARES Act’s Paycheck Protection Program (PPP) launched on April 3, 2020. Although it runs through June 30, 2020 the government advises small businesses to apply as soon as possible.
Yonkers Small Business Center
U.S. Small Business Administration (SBA) Links
- Coronavirus Relief Options: A description of various loan and grant programs available at this time.
- Paycheck Protection Program: Forgivable loans for small businesses that retain employees and pay rent and utilities.
- Paycheck Protection Program borrower application form (PDF)
- Find a Lender: SBA does not make the loans itself, but works with a number of approved banks and credit unions that will
- Low-interest disaster loans: For businesses, homeowners and renters, a simplified portal
- Guidance & Loan Resources: Guidance for businesses and employers, and funding options
- SBA Coronavirus Small Business Financial Assistance Programs (New York Small Business Development Center)
- “How small businesses can get money from the stimulus package” (vox.com)
New York Forward Loan Fund: Targets businesses with 20 or fewer full-time employees; nonprofits; and small landlords.
Webinars and programs
- SCORE, the nation’s largest network of volunteer, expert business mentors, offers free online workshops on topics ranging from startup strategies to marketing and finance. Attendees can watch webinars live or view recordings online on their own time.
NFIB (the National Federation of Independent Business) is offering resources to help entrepreneurs during the crisis. Hover over “CORONAVIRUS” with your cursor to see a menu of webinars, regular news updates, and other information.