NYC Employee Retention Grant Program
The City is offering small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees.
NYC Small Business Continuity Loan Fund
Businesses with fewer than 100 employees who have seen sales decreases of 25% or more will be eligible to apply for zero interest loans of up to $75,000 to help ensure business continuity.
https://www1.nyc.gov/site/sbs/businesses/covid19-business-outreach.page
Regarding New York State, based on articles published last week, Senator Pam Helming and Assemblyman Colin J. Schmitt called for the establishment of a $890 million Small Business Emergency Assistance Fund for the State of New York. Currently, there is no specific fund or program in place for NY State, but we expect a resolution soon.
Additionally, any business in New York can apply to the SBA Economic Injury Disaster Loan Program – https://www.sba.gov/disaster/apply-for-disaster-loan/index.html
