Resources for Businesses Affected by COVID-19
Our Continuing Covid-19 Response
The impact of the COVID-19 pandemic has been devastating for millions of New Yorkers but one sector that has been hit particularly hard by the necessary restrictions and directives is small and micro-businesses.
Throughout the crisis, we have been supporting – and continue to support – our micro and small business clients and the communities we serve in multiple ways:
- We assisted 26 of our clients apply for – and successfully receive – a total of 1.4 million dollars in SBA Disaster Loans.
- We launched an Emergency Loan Fund to provide struggling clients with no-fee loans ranging from $5k to $25k at 3% interest. As of September 30, the end of FY 2020, we have disbursed 112 emergency loans totaling $1,499,845.
- We successfully submitted 164 PPP applications for clients and other small businesses, who were awarded forgivable loans totaling $2,091,262.
- In addition to the Emergency and PPP loans, we made a total of $3,591,107 in regular small business loans made during fiscal year 2020.
- We provided debt relief to 449 microloan clients and 6 small business clients for a total of $1,190,781 through the SBA CARES 6-month Payment Relief Program, covering payments due from April through September.
- We produced webinars covering a range of business and marketing topics and strategies for navigating the crisis, relief programs, and reopening, attended by over 700 participants.
- We launched an online gofundme campaign to raise funds for emergency cash grants of $500 to $1,000 to support some of our hardest-hit refugee clients. As a result of that campaign, we have awarded 96 emergency grants to date totaling $81,000.
From October 2020 – September 2021, Accompany Capital’s lending team:
- Provided small New York businesses with loans totaling $7,219,523, including a successful second round of 191 PPP loans totaling $4,572,823
- Helped clients access over $5M in SBA-funded EIDL loans
- Helped 112 street vendors and small businesses in Queens qualify for $1.8M in grants from the Queens Small Business Program funded by Steven and Alexandra Cohen
- Helped restaurants qualify for $500,000 from the SBA’s Restaurant Relief Fund
- Helped our clients qualify for $877,326 in debt relief from the SBA’s CARES Act with $761,108 to microloan clients and $116,218 to small businesses
- Provided our clients with $124,436 in debt relief and $161,000 in rent relief through a grant to Accompany Capital from Wells Fargo’s Open for Business Program
- Helped our clients qualify for $199,899 in interest relief funded by Small Business Services of New York City
Here are some important updates and New York state and city reopening guidelines:
NYS REOPENING GUIDELINES
As of June 15, 2021, over 70 percent of adult New Yorkers had received at least the first dose of the COVID-19 vaccination and the rate of new COVID-19 cases had plummeted to the lowest levels in the nation. Given New York’s progress and the diminished risk of COVID-19 within the community, the State lifted most COVID-19 restrictions, except the mask requirement for unvaccinated individuals and in certain settings (e.g., health care) as advised by the CDC.
- Current Guidance for Schools & Youth – Includes mask guidance, testing resources and vaccine information.
- Archived Industry Guidance – For reference and resource only.
- CDC Guidance (EN)
- Stay up to date with vaccines here.
To help New York City’s small businesses experiencing financial distress due to the impact of COVID-19, Citizens Committee has launched the Neighborhood Business Grants. Businesses owned by people of color, immigrants, and women, and businesses that have the greatest need and minimal access to resources will be prioritized:
- The application is intended to be accessible and short, and will be reviewed on a rolling basis.
- Apply directly here
- View Step-by-step Orientation Video
- Download application in Chinese
- For Neighborhood Business Grants general inquiries, contact businessgrants@
- Spanish inquiries, contact Carla at [email protected]
- Chinese inquiries, contact Di at [email protected]
- Business Pandemic Recovery Initiative Programs: Check out more info on grants, tax credits, and technical assistance programs for businesses affected by the COVID-19 Pandemic here.
- COVID-19 Vaccine Info for Business & Schools: Check out more info on how to manage COVID-19 in school and business here.
- New York Loan Forward Fund (First Round Ended): A new economic recovery loan program aimed at supporting NYS small businesses, nonprofits and small landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE. For more info, click here.
- SBA Disaster Loan Assistance: For Federal Disaster Loans for businesses, nonprofits, homeowners, and renters click here.
- Small Business Owner’s Guide to the CARES Act: For an excellent guide from the Senate Committee on Small Business & Entrepreneurship click here.
- All Accompany Capital Workshops Are Now Being Offered Online: Watch for emails with details or check Facebook or our website.
- To Follow Updates from NYC: Click here or text COVID to 692-692
- NYC Mayor’s Office to Protect Tenants: Info & Resources for NYC tenants impacted by COVID-19
- Volunteers of Legal Services (VOLS): Frequently Asked Questions for Commercial Tenants & Immigrant-Owned Businesses in English and en Español