Due to the high volume of calls, emails and inquiries we are having loan assistance clients fill out an intake form to expedite the assistance process. Please complete the form and a WEDC counselor will contact you shortly.

Federal

Paycheck Protection Program PPP

A loan designed to provide a direct incentive for small businesses to keep their workers on payroll.

Economic Injury Disaster Loan Emergency Advance

Designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue up to $10,000.

Express Bridge Loans

Allows SBA Express Lenders to provide expedited financing to small businesses located in declared disaster areas, to access up to $25,000 quickly, to help them overcome the temporary loss of revenue.

SBA Debt Relief

SBA will pay 6 months of principal, interest and any associated fees that borrowers owe for all current 7a, 504, and microloans in regular servicing status. Borrowers do not need to apply it will happen automatically.

SBA 7a Loan

Loan up to $350,000. Qualified lenders may be granted delegated authority to make eligibility determinations without SBA review, interest rate can be negotiated between lenders and borrowers but not exceed the SBA maximum.

SBA Express

Loan up to $350,000, eligibility made by the lender, lenders and borrowers can negotiate interest rate, turnaround within 36 hours, and no collateral for loans up to $25,000.

504 Loan program

Designed to foster economic and job creation and/or retention. The eligible use of proceeds is limited to the acquisition or eligible refinancing of fixed assets.

Microloan

Loans through nonprofit lending organizations to underserved markets, maximum loan amount is $50,000, with average loan size $14,000 to use for working capital, supplies, machinery, equipment and fixtures (does not include real estate).

IRS Employee Retention Credit

The IRS and the Treasury Department announce this retention credit to encourage businesses to keep employees on their payroll (refundable credit 50% of up to $10,000 in wages paid by eligible employer impacted financially by COVID 19).

State

NY Forward Loan Fund

New York Forward Loan Fund (NYFLF) is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small landlords as they reopen after the COVID-19 outbreak and New York State on PAUSE.

NY Forward Childcare Expansion Incentive

$65 million in federal CARES Act funding is available for child care providers statewide through the New York Forward Child Care Expansion Incentive program.

Local

Yonkers Business Assistance Program

The City of Yonkers has established two small business assistance programs to aid businesses impacted by the COVID-19 pandemic. The programs provide grants of up to $10,000 for businesses with five (5) employees or less, and a combination of grants and loans up to $25,000 for businesses with up to 50 employees.

Westchester County MWBE COVID-19 Impact Accelerator and Grant Program

Applications will be accepted from October 20th, 2020 - October 26th, WEDC will accept grant applications of $7,500 for small business grants. Eligible applicants must be at least 51% owned by one or more persons of color or women as defined by Section 308 of the County Charter.

The Dutchess County Microenterprise Stabilization Grant Program

The county has made $430,000 in grants available to assist microenterprise businesses negatively affected by COVID-19; a microenterprise is defined as a business with five or fewer employees, including the owner. The program will provide grants of up to $10,000 to stabilize microenterprises and preserve low- and moderate-income jobs.

Back to Business Funding Program

Central Hudson is pleased to offer our Back to Business funding program in coordination with our banking partners. We are committing up to $1 million in economic development support to provide local small businesses with grants to help pay down new working capital loans taken with participating local banks.

NAACP Powershift Entrepreneur Grant

Daymond John's quest to find and award up and coming black entrepreneurs $175,000 in grants! Black Entrepreneurs across the country can apply now for the chance to win $25,000 each to help them grow and scale their businesses during a time they need it most.

LISC-Lowe's Rural Relief Small Business Grant Program

This application form captures preliminary information for a business seeking a Small Business Relief Grant. Before proceeding, LISC recommends that respondents read the online FAQ for more information about this round of the Small Business Grant Program.

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