Your small business may be available for 0 interest loans + grants from the City
Information from NYC Department of Small Business Services:
Because some small businesses have started to feel an impact related to coronavirus, the Mayor announced this past weekend that there will be assistance to small businesses to help them adapt to changing customer behavior. Businesses may qualify for low-interest loans and employee retention grants.
Businesses with fewer than 100 employees, seeing a decrease in sales up to 25% or more will be eligible for zero interest loans up to $75,000 to help mitigate losses in profit.
The City is also offering eligible small businesses with fewer than five employees a grant to cover 40% of payroll costs for two months to help retain employees.
SBS will continue to send out information, including on financial assistance, as more details become available. In the meantime, please fill out the below form to stay up to date on industry-specific information.
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The City remains open for business. At this time, New Yorkers do not need to limit travel within the city, change where they purchase food or how they prepare it, or avoid public gatherings and public transportation. New Yorkers are reminded to stay home if they feel sick, and practice good hygiene.
Below are updated resources to help you and your business stay safe and prevent the spread of germs. This is a rapidly changing situation, visit the NYC Health website for more up-to-date information, including FAQs for employers.