Disaster Loan & Funding Assistance

The Small Business Owner’s Guide to the CARES Act

The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now.

The Coronavirus Aid, Relief and Economic Security Act Bill Summary

On March 27th, 2020, Congress passed The Coronavirus Aid, Relief and Economic Security (CARES) Act to give $2 trillion in aid and relief to individuals and businesses affected by the economic fallout of the coronavirus pandemic. Senator Gillibrand's bill summary.

Process for Accessing SBA’s Coronavirus (COVID-19) Disaster Relief Lending

  • The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
  • Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available statewide to small businesses and private, non-profit organizations to help alleviate economic injury caused by the Coronavirus (COVID-19).
  • SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance.
  • Once a declaration is made, the information on the application process for Economic Injury Disaster Loan assistance will be made available to affected small businesses within the state.
  • These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
  • SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
  • SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.

For additional information, please visit the SBA disaster assistance website at www.sba.gov/funding-programs/disaster-assistance

Español - Coronavirus (COVID-19)

Coronavirus (COVID-19): Orientación y recursos de préstamos para pequeñas empresas https://www.sba.gov/page/coronavirus-covid-19-orientacion-y-recursos-de-prestamos-para-pequenas-empresas

Mid-Hudson Counties Eligible for Funding

Empire State Development Resource Guide to COVID-19 SBA Disaster Loans https://esd.ny.gov/resource-guide-covid-19-sba-disaster-loans

If your small business in Westchester, Putnam or Dutchess county has been severely impacted by the novel coronavirus, you will want to apply. COVID-19-related harm will be considered beginning from January 31, 2020, when the CDC declared a public health emergency. Given the continuing impact of this pandemic, SBA has not determined an end date for this incident period. An end date determination could be made in the coming weeks or months. 

  • Applications are available now at https://disasterloan.sba.gov/ela
  • Applicants in Westchester, Putnam, and Dutchess counties will need to create an account and complete the application that references the Disaster # CT-00046. Small businesses in the affected counties have until December 16, 2020, to submit an application.
  • Applicants in Westchester and Rockland county will need to create an account and complete the application that references the Disaster # NY-00197. Small businesses have until December 21, 2020, to submit an application.

Additional guidance and resources for small businesses are available on SBA's website here: https://www.sba.gov/page/coronavirus-covid-19-small-busi ness-guidance-loan-resources   Questions can be emailed to disastercustomerservice@sba.gov or call 1-800-659-2955 (TTY/TDD: 1-800-877-8339).

Verizon Small Business Recovery Fund

Small businesses across the country are confronting extreme economic challenges as a result of the COVID-19 pandemic. Financial support at this critical time can make the difference between staying in business or closing permanently, leading to lost income, jobs and economic stability.

Thanks to a $2.5 million investment from Verizon, we are offering grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available.

What it can be used for?
Paying rent and utilities
Meeting payroll
Paying outstanding debt to vendors
Other immediate operational costs

The Hebrew Free Loan Society (HFLS)

The Coronavirus Financial Impact Loan Program provides interest-free loans of $2,000-$5,000 to residents of New York City’s five boroughs, Westchester, or Long Island who are facing financial challenges caused by the Coronavirus outbreak.

Hello Alice Small Business Grant

$200,000 in grants will be awarded to Business for All applicants, as a critical step towards tackling entrepreneurs’ single greatest barrier to growth: access to capital. Grantees will be selected by an esteemed council of leaders from across the business ecosystem, representing diverse organizations, industries, locations and demographics.

New York State Updates

Governor Cuomo's Announcements

March 25, 2020

  • New York State on PAUSE: 100% of the workforce must stay home, excluding essential services.
  • All non-essential gatherings of individuals of any size for any reason are temporarily banned.
  • New Yorkers can call the COVID-19 Emotional Support Hotline at 1-844-863-9314 for mental health counseling.
  • New York City will pilot closing streets to vehicles and opening them to pedestrians as part of the city's plan to address the lack of adherence to social distancing protocols.
  • 40,000 healthcare workers, including retirees and students, have signed up to volunteer to work as part of the state's surge healthcare force during the ongoing COVID-19 pandemic.
  • Department of Motor Vehicles offices are temporarily closed for in-office visits. Online transactions, including for license renewals, are still be available. License and permit expirations will be extended.
  • All non-essential businesses statewide must close in-office personnel functions until further notice as part of New York State on PAUSE. Bars and restaurants are closed, but takeout can be ordered during the period of closure.
  • Guidance on Essential Services
  • Testing is free for all eligible New Yorkers as ordered by a health care provider.
  • Your local health department is your community contact for COVID-19 concerns. 
  • Information on Paid Sick Leave for COVID-19 Impacted New Yorkers 

For up to date information visit https://coronavirus.health.ny.gov/home  For the latest press releases visit https://www.governor.ny.gov/news

Sign up for email updates from New York State with critical information on the Coronavirus pandemic. 

State Departments

New York State Economic Development esd.ny.gov/esd-covid-19-related-resources

Empire State Development has now posted guidance intended to assist businesses in determining whether they are an essential business and steps to request such designation.  Please click on this link to view the guidance. https://esd.ny.gov/guidance-executive-order-2026  If your business falls clearly into one of the categories listed in the guidance, no further action is needed at this time. If your business does not fall within the categories, you must complete this form and submit it to covid19designations@esd.ny.gov.   

State Liquor Authority COVID-19 Guidance on Restrictions, To-Go & Delivery, and Q & A

New York State Department of Labor https://www.labor.ny.gov/home/.  New York Department of Labor's Shared Work Program allows employees on a reduced schedule to collect unemployment for days not worked helping to offset reduced incomes. NY is apparently moving much more quickly than other states and the program is a great way to help reduce expenses while retaining employees. For more info visit https://www.labor.ny.gov/ui/employerinfo/shared-work-program.shtm  Here is Information on Paid Sick Leave for COVID-19 Impacted New Yorkers.  Another resource for frequently asked questions https://paidfamilyleave.ny.gov/new-york-paid-family-leave-covid-19-faqs

New York State Department of Taxation and Finance  Sales tax payments and returns were due 3/20/20; however, penalty and interest may be waived for quarterly and annual filers who were unable to file or pay on time due to COVID-19.  See Tax Department response to novel coronavirus (COVID-19) to view guidance and stay up to date. 

U.S. Department of Labor

The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus (also known as novel coronavirus). https://www.dol.gov/coronavirus

COVID-19 Resources for Nonprofits and Community-Based Organizations

New  York State Health Foundation: A list of national, State, and local resources for our grantees and other partners that may help their organizations and the New Yorkers they serve during these difficult times. NYSHealth will continue to add more resources and initiatives as they are made available. https://nyshealthfoundation.org/resource/covid-19-resources-for-grantees/

County Updates

Dutchess Business Notification Network

This network was created to help coordinate responses and share the burden, and we ask that you please contact us with any questions or concerns so our elected officials can focus on their task at hand. Thank you for your continued support through this time.

Dutchess County Government

Dutchess County Government Coronavirus (COVID-19) Information

Orange County Government

Orange County Government Coronavirus (COVID-19) Information

Rockland County Government

Rockland County Government Coronavirus (COVID-19) Information

Ulster County Government

Ulster County Coronavirus (COVID-19) Information

Westchester County Government

Westchester County Coronavirus (COVID-19) Information

The Child Care Council of Westchester is Here to Help You Find Child Care. The Council is reaching out to the child care and after school community to see who is open and has openings to provide care during this time of need. Their staff is there to help. Please call 914-761-3456 x 140. Kindly leave a message and they will return your call. Please check the Child Care Council Facebook page for child care updates and other important info regarding COVIV-19. Resources that parents might find useful while at home with their children will also be posted.

 

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