Resources for Small Businesses Impacted by COVID-19

Last updated April 9 at 7:00 pm EDT

Please help us get the word out about new resources and programs to help sole proprietors, small businesses and their employees get through this unprecedented challenge.

Financial Aid:

The takeaway on the new SBA Disaster Loan Advance: APPLY! 10 minute application = $10,000 emergency funds. The Loan Advance is designed to get funds in hand right away, and can work with other loan programs. The rollout of these programs has been bumpy, to say the least, and funds are not materializing as quickly as promised. We’ll be sure to let you when we hear they’re flowing.

The loan advance should soon provide relief to persistent sole proprietors, small businesses (including landlords) and nonprofit organizations with a checking account: YouTube how-to link courtesy of Big Apple CPA, FAQs courtesy of Empire State Development.

Still have questions? SBA 24/7 hotline: (800) 659-2955.

There are additional federal programs coming online. The takeaway: Apply! Apply! Apply! Sure, there is some overlap in the programs (SBA disaster loan advance, Economic Impact Disaster Loan (EIDL), Paycheck Protection Program). If you’re approved for more than one and aren’t sure how to proceed, consult with your regional office before signing on.

Your own bank is best positioned to assist you with the application process for the new federal Paycheck Protection Program (PPP). The nonprofit Fundera offers a list of providers and helpful links. Please let us know if you need help connecting with a lender.

Check out Amanda L. Kool’s plain-language article on these programs for medium. com, and this infographic from the US Chamber of Commerce.

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Apply for Financial Assistance:

• Small Business Administration (SBA) COVID-19 Economic Injury Disaster Loan Assistance and Disaster Loan Advance (the first step in the Disaster Loan Assistance Program).
• NYC 0% Interest Loan Pre-applications are open (for businesses with 1 – 99 employees).
• The NYC Payroll Support Grant program (for eligible businesses and nonprofits with 1 – 4 employees) is no longer accepting applications.
• Nightlife workers and businesses can check out the Restaurant Workers’ Community Foundation programs.

Review program requirements and gather documents that prove economic impact:

• point-of-sales reports
• bank statements
• quarterly sales tax filings
• 2019 tax returns
• CPA-certified profit & loss statements

See this step-by-step guide to the SBA Economic Impact Disaster Loan application, or for one-on-one help, contact the Pace Small Business Development Center business advisor team at sbdc@pace.edu.

Renaissance Economic Development Corporation has extensive small business lending expertise, including their own program targeted for our neighborhood, with interest forms in English, Spanish, Chinese and Korean.

For assistance with commercial lease matters, contact Cooper Square Committee. There is a moratorium on eviction proceedings and pending orders. See these FAQs from the Commercial Lease Assistance Program.

Help us help small businesses:

Is your East Village business open or fulfilling orders online? Fill out this survey to get on the map!

Fill out this business impact survey from State Senator Brad Hoylman’s office to help public officials learn more about what’s happening in real time.

Helpful Information:

Post NYC: Stop the Spread of Coronavirus and “What You Need to Know”

Review the NYC Coronavirus Fact Sheet for Business Owners, FAQs and Safety Guidelines for Restaurant Service (where not overruled by mandated closures).

Price gouging for goods or services needed to limit the spread of COVID-19 is illegal. Examples include:

• Cleaning products
• Diagnostic products and services
• Disinfectants (wipes, liquids, sprays)
• Face masks
• Gloves
• Hand sanitizer
• Medicines
• Paper towels
• Rubbing alcohol
• Soap
• Tissues

PAUSE Restrictions:

It’s time to PAUSE New York: only essential businesses’ staff may go into work. 100% of nonessential businesses’ staff must stay at home. Not sure of your status? See also FAQs.

ONLY essential or emergency construction is permitted (one employee / worker per site is exempt from this restriction).

ONLY takeout / delivery orders are permitted from restaurants and bars that serve food. Please order directly from the establishment if possible. Compliance questions?

All personal care services: barbershops, hair salons, tattoo or piercing salons, nail salons, hair removal services, etc. are closed. Purchase a gift certificate to help keep your favorite salon afloat!

All nightclubs, movie theaters, small theater houses, concert venues and gyms are closed. If you have the means, please keep your memberships current or ask for a donation receipt instead of a refund on tickets to help support your favorite venue.

Our local businesses are our heroes: whether they’re scrambling to restock, pivoting to online ordering, takeout and delivery, or going without needed income to protect others. HelpMainStreet.com provides gift cards to local businesses. 100% of proceeds go directly to the business!

We’re here for our local businesses in this difficult time. Please let us know how we can help you: info@evccnyc.org.

Please check back with this page for updates and sign up for our email list!