NYC will be providing financial assistance to small businesses located in NYC
Mayor De Blasio announced on March 8th that the City will begin to provide financial assistance/relief to small business located in NYC (across the five boroughs) to mitigate any decrease in revenue caused by COVID-19.[1]
The City has two programs small businesses can apply for:
NYC Employee Retention Grant Program
• For Small Business with Fewer than 5 Employees:
• Covers 40% of payroll costs to help retain employees [2]
NYC Small Business Continuity Fund
• For Small Business with Fewer than 100 Employees
• If there has been a decrease of 25% or more in sales, the business may be eligible for zero interest loans of up to $75,000 to help mitigate losses in profit [3]
Please click below to learn about eligibility criteria!
Learn More About Applying!
If you believe you qualify according to the eligibility criteria listed in the link above, you can learn more and fill out an Application or Pre-Application at this time.
[1][2][3], NYC Small Business Services. (3/16/2020). Financial Assistance for Businesses Impacted by COVID-19. https://www1.nyc.gov/site/sbs/businesses/covid19-business-financial-assistance.page
