COVID-19 Information for Businesses

UPDATED! As the COVID-19 virus continues to spread around New York City and surrounding areas, it is important to be informed and track the impact of the virus on your business operations, and to be aware of how your business may be able to receive assistance during the pandemic. While we will update this page as new information becomes available, please see the individual websites for up-to-date details of various aid programs.

Financial Assistance

NYC Department of Small Business Services (SBS)
COVID-19 Assistance & Guidance for Businesses

Due to overwhelming interest in the NYC Business Continuity Loan Fund, SBS has paused application intake. The NYC Employee Retention Grant Program is also no longer accepting applications.

If you would like to be updated about any new local, state or federal financial assistance programs that become available, please provide your information here.

The NYC Business Solutions Center experts are available to help businesses identify additional financing available, including financing from the U.S. Small Business Administration (SBA) or local philanthropic financing if you are a nonprofit.

U.S. Small Business Administration (SBA)
Coronavirus (COVID-19) Small Business Guidance & Loan Resources 

The U.S. SBA offers support and guidance to small businesses and has re-opened applications for  the Paycheck Protection Program.  To learn more, click here. SBA is no longer accepting applications for the Economic Injury Disaster Loan Program.

Note: The SBA has re-opened Paycheck Protection Programs applications as of April 27, 2020.

The Federal Reserve
Main Street Lending Program

The Federal Reserve has announced that it is establishing a Main Street Lending Program to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic. The Program will operate through three facilities: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Street Expanded Loan Facility (MSELF). Term sheets for each facility and Frequently Asked Questions (FAQs) providing more information regarding eligibility and conditions can be found on the Federal Reserve’s website.

Hebrew Free Loan Society
Coronavirus Financial Impact Loan Program

Hebrew Free Loan Society is providing loans to support individuals with financial challenges caused by the Coronavirus outbreak.

Facebook 
Small Business Grants Program - Deadline May 6! 

Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where Facebook operates. 

New York Community Trust
NYC COVID-19 Response & Impact Fund

The NYC COVID-19 Response & Impact Fund was created to aid nonprofit service providers struggling with the health and economic effects of the coronavirus. It will give grants and loans to NYC-based nonprofits that are trying to meet the new and urgent needs that are hitting the city. Priority will be given to nonprofits addressing essential healthcare and food insecurity as well as arts and culture, because New York is the cultural capital of the nation. NYCT is no longer accepting applications for grants, but non-profits may still apply for loans through the NYC COVID-19 Relief & Impact Fund.

Robin Hood
COVID-19 Relief Fund

Robin Hood is providing grants to 501(c)3 non-profits serving the poor in New York City. First-time grant requests generally fall between $100,000-$200,000 and cover programs, salaries, and start-up costs. For eligibility requirements and to apply, visit Robin Hood’s website.

National Restaurant Association Educational Foundation - Applications are temporarily closed.
Restaurant Employee Relief Fund

The Restaurant Employee Relief Fund was created to help restaurant industry employees experiencing extraordinary hardship in the wake of the COVID-19 outbreak.

Freelancers Union - Applications are temporarily closed.
Freelancers Relief Fund

Freelancers Relief Fund will offer financial assistance of up to $1,000 per freelance household to cover lost income and essential expenses not covered by government relief programs, including: food/food supplies, utility payments, and cash assistance to cover income loss.  

Restaurant Workers’ Community Foundation
COVID-19 Emergency Relief Fund

The Restaurant Workers’ Community Foundation is providing funds for direct relief to individual restaurants, to non-profits serving restaurant workers in crisis, and zero-interest loans for restaurants to get back up and running. For more details, please see their answers to frequently asked questions.

Yelp
Free Advertising for Restaurants and Nightlife Businesses - Deadline extended to May 25!

Small, independently owned restaurants and nightlife businesses with five or fewer locations who have Yelp Ads campaigns can get free advertising on Yelp. For eligibility requirements and answers to frequently asked questions, visit their website here. Restaurants and nightlife businesses can access the program through their Yelp for Business account.

Guidance 

IRS Federal Income Tax Filing—Deadline Extended to July 15, 2020

The Treasury Department and the Internal Revenue Service are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns has been extended from April 15 to July 15, 2020. For more information, please visit the IRS website.

New York State Department of Labor

• Unemployment Insurance—New York State is waiving the 7-day waiting period for Unemployment Insurance benefits for people who are out of work due to Coronavirus (COVID-19) closures or quarantines.
  
  
• Shared Work Program—The Shared Work Program lets you keep trained staff and avoid layoffs. Employees can receive partial Unemployment Insurance benefits while working reduced hours. Full-time, part-time and seasonal employees are eligible.

New York State Department of Taxation and Finance - Response to Coronavirus (COVID-19)

Sales tax payments and returns were due March 20, 2020; 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 relief for quarterly and annual sales tax vendors affected by COVID-19 to request relief from penalty and interest.

NYC Department of Finance

The NYC Department of Finance recognizes that taxpayers and return preparers affected by the COVID-19 outbreak may be unable to meet certain New York City filing and payment deadlines. As a result, NYC DOF is offering the following filing extensions:

• COVID-19 NYC Business Tax Filing Extensions
• COVID-19 Real Property Transfer Tax Filing Extensions

NYC Emergency Management - COVID-19 Services and Resources

The City of New York has developed a list of resources for those who may be unemployed due to COVID-19 or are seeking additional assistance, such as:

• Employment Resources
• Food Assistance
• Health & Medical Assistance
• Financial Assistance
• Rent Arrears & Public Assistance
• Emotional Support & Spiritual Care
• Other Assistance

NYC Hospitality Alliance - COVID-19 Support and Relief Efforts

The NYC Hospitality Alliance is providing restaurants and nightlife establishments with COVID-19 Support and Relief Efforts for Operators and Employees, such as:

• Employment Opportunities
• Financial Aid
• Food Donations
• Hotlines & Consulting
• Online Ordering & Gift Cards

For more information on NYC business assistance, including a guidance guide for businesses, an emergency planning process checklist and a CDC business planning checklist for pandemics, visit the NYC Department of Small Business Services by visiting nyc.gov/covid19biz. 

And, for the most up-to-date information on the impact of COVID-19 visit the New York State Department of Health at ny.gov/coronavirus and the New York City Department of Health at nyc.gov/coronavirus.

Original Post: 3.11.20; Updated regularly

Photo credit: NYC Department of Small Business Services