NYC Small Business Continuity Loan Fund Information: Loans for businesses with fewer than 100 employees who have seen sales decreases of 25% or more will be eligible for zero interest loans of up to $75,000 to help mitigate losses in profit
Application is not yet available, however, those that are interested should fill out a pre-application and will be informed when the application is available.
- Complete the above interest pre-application in order to receive information once the application is available
The City is also offering small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees.
- Available to New York City businesses with one to four employees that can demonstrate at least a 25% decrease in revenue as a result of COVID-19.
- Eligible businesses will receive a grant covering up to 40% of their payroll for two months.
- Businesses can access up to $27,000.
- Employ 1-4 employees in total across all locations
- Have been in operation for at least 6 months
- Have no outstanding tax liens or legal judgements
Eligibility for businesses, including non-profits, must:
- Be located within the five boroughs of New York City
- Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue
How to calculate revenue loss:
- To calculate the revenue impact of COVID-19, NYC will compare average revenue for two months in 2020 (after the COVID-19 impact) to both:
- Average revenue for the same two month period in 2019, and
- Average monthly revenue based on total 2019 revenue.
- NYC will check to see if either calculation shows at least a 25% decrease in revenue
Supporting documents for application:
- Document Checklist: https://www1.nyc.gov/assets/sbs/downloads/pdf/businesses/COVID19_ERG_Application_Document_Checklist.pdf
- Financial documents for two months in 2020 demonstrating revenue decrease due to COVID-19
- Financial documents showing your revenue for the same two months in 2019 (unless you were not in business at that time)
- Financial documents showing your revenue for the full 2019 calendar year
- Financial documents can include: point-of-sales reports, bank statements, quarterly sales tax filings, 2019 tax returns, or CPA-certified profit & loss statements.
- To determine your grant amount, you will need to upload:
- Your most recent two months of payroll records
- To process your grant, you will need to upload:
- A signed Participation Affidavit verifying that you are eligible for the program and that you are applying in order to retain your employees
- Your bank account information
If you are interested in applying, here is our NYC Employee Retention Grant Program step by step guide.
The Syracuse Economic Development Corporation (SEDCO) has created a dedicated $500,000 fund to provide zero-percent interest, 180-day emergency loans to small businesses in the City. Up to $25,000 loans per business, average loan size is anticipated to be around $10,000.
If you are interested in applying, please fill out this online application.
Federal loan available to New York residents. More details on the loan provided at the top of the page. For more info please visit
NY 16346 – SBA Offers Disaster Assistance to New York Small Businesses Economically Impacted by the Coronavirus (COVID-19)