Resources for Businesses Affected by COVID-19
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.
Here are some important updates and New York state and city reopening guidelines:
NYS REOPENING GUIDELINES AS OF JUNE 15, 2021
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.
- Archived Industry Guidance – For reference and resource only.
- Implementing CDC Guidance (EN) – View entire summary of recent changes here.
- Current Guidance – Reopening guidance currently in effect
- Fairs & Festivals (EN)
- Large Scale Performing Arts & Entertainment (EN): Español | Kreyòl Ayisyen | русский язык | 한국어 번역 | 中文翻譯 | বাংলা অনুবাদ
- Professional Sports Competitions with Fans (EN): Español | Kreyòl Ayisyen | русский язык | 한국어 번역 | 中文翻譯 | বাংলা অনুবাদ
- Public Transportation (EN): Español | Kreyòl Ayisyen | русский язык | 한국어 번역 | 中文翻譯 | বাংলা অনুবাদ
Child Care Stabilization Grant (ES) – Opens August 3rd, 2021
The New York State Office of Children and Family Services (OCFS) is accepting applications for the Child Care Stabilization Grant made available through the federal American Rescue Plan Act and the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act. The Child Care Stabilization Grant represents an unprecedented opportunity and investment to effectively stabilize the child care sector.
The goal of the Child Care Stabilization Grant is to provide financial relief to child care providers to help cover unexpected business costs associated with the COVID-19 pandemic, and to help stabilize their operations so they may continue to provide care. To streamline and simplify the application process, OCFS is offering a single online application. Technical assistance will be available statewide via Child Care Resource and Referral (CCR&R) agencies, Civil Service Employees Association (CSEA), United Federation of Teachers (UFT), and Women’s Housing and Economic Development Corporation (WHEDco) to all child care providers who need help to complete the online application. Click here for more info.
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 CRodriguez@citizensnyc.org
- Chinese inquiries, contact Di at DCui@citizensnyc.org
Does Your Small Business need help as New York City Reopens? Accompany Capital’s #NYCReopening Micro Loan Program can help NYC businesses with loans that may be eligible for the CARES Act payment forgiveness plan.
- Loans up to $75,000
- A low 3% interest rate
- Repayment terms up to 3 years
- All fees waived
Apply directly here
- Restaurant Revitalization Fund (RRF) & Grant Opportunities: Check out the full NEWS RELEASE here. Learn about the details of the RRF Application and other updates on PPP applications/forgiveness and EIDL Increase/Advances here.
- Raising the NYS Bar Restaurant Recovery Fund: A grant opportunity implemented by the National Development Council for NYS Restaurants and establishments providing food service to help adapt to COVID-19 restrictions. Maximum $5,000 grant, MWBEs are encouraged to apply. Click here to see if you are eligible.
- New York Loan Forward Fund (NYFLF): 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