Make an Appointment

News and Resources for Small Business Owners

New York Forward Loan Fund (NYFLF)

An in-depth description of the fund can be found here:

The NYFLF offers working capital loans to a) NYS small businesses with 20 or fewer employees, b) nonprofits, or c) small landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE.

Loans are available to businesses, nonprofits & small landlords in those regions that have reopened.
(Has your region of NYS reopened? If so, has your industry reopened there? Check here to find out:

Additional information & resources can be found here:

The interactive loan pre-application process begins here:


“NY Forward Business Re-Opening Safety Plan Template”
NYS Department of Health
May 2020

(In Chinese, here)

“Each re-opening business must develop a written Safety Plan outlining how its workplace will prevent the spread of COVID-19. A business may fill out this template to fulfill the requirement, or may develop its own Safety Plan. This plan does not need to be submitted to a state agency for approval but must be retained on the premises of the business and must made available to the New York State Department of Health (DOH) or local health or safety authorities in the event of an inspection.

Business owners should refer to the State’s industry-specific guidance for more information on how to safely operate. For a list of regions and sectors that are authorized to re-open, as well as detailed guidance for each sector, please visit


Paycheck Protection Program (PPP)

An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.

Loans are to be used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8-week period after the loan is made.


  • Interest rate of 1%
  • Maturity of 2 years
  • First payment deferred for six months
  • 100% guarantee by SBA
  • No collateral
  • No personal guarantees
  • No borrower or lender fees payable to SBA

The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll).

Here’s the fillable PDF application.

Here is the Loan Forgiveness Application for the Paycheck Protection Program.

To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) must complete this application as directed in these instructions, and submit it to your Lender (or the Lender that is servicing your loan). Borrowers may also complete this application electronically through their Lender.

Economic Injury Disaster Loan (EIDL)
EIDL Emergency Advance

SBA is re-opening the EIDL portal this afternoon (5/4/2020) to allow previously ineligible agricultural businesses ONLY to apply for the EIDL Loan and Advance.

For more information, go here:

Agricultural applicants who have already submitted their applications will continue to be processed on a first-in, first-out basis. SBA will process these applications without the need for re-applying.

For those agricultural businesses that have not yet applied for an EIDL, go here:

Non-agriculture businesses MAY NOT apply, EXCEPT for any business that completed an EIDL application before March 29th, and received a confirmation # starting with “2” but has not yet reapplied through the streamlined portal.

These businesses may re-apply to complete their original application here:


NYC’s Employee Retention Grant
(No longer accepting applications)

New York City Small Business Continuity Fund
(No longer accepting applications)

Emergency Small Business Relief Loan Fund
(from Renaissance Economic Development Corporation)
Available ONLY for New York City businesses located in the following locations:

Chinatown; Lower East Side; Koreatown (East 32nd)
Bayside; College Point; Elmuhurst; Flushing; Jackson Heights; Murray Hill; Woodside
Bay Ridge; Bensonhurst; Sheepshead Bay; Sunset Park


FedEx #SupportSmall Grants
The second round of FedEx’s grant program has begun. The grants target businesses greatly affected by COVID-19. Each grant recipient receives $5000 + $500 credit towards FedEx resources and services.

Global Giving
The Red Backpack Fund
The Red Backpack Fund is an initiative started by The Spanx by Sara Blakely Foundation. The foundation donated $5 million to GlobalGiving, which will be making at least 1,000 grants of $5,000 each to female entrepreneurs in the U.S. to help recover from this crisis.

Local Initiatives Support Corporation (LISC)
Small Business Relief Grants
Thanks to support from funders like Verizon and Sam's Club, LISC is accepting applications from small businesses for grants, to help them keep functioning and remain vital facets of their local economies through this challenging period. Applications for round 2 are now closed. The next round will open on May 14th. Register to receive email updates on the program.

Restaurant Strong Fund
The Greg Hill Foundation and Samuel Adams have teamed up to support those individuals across the country who were employed full-time at a restaurant, bar, cafe or nightclub and impacted by COVID-19 closures.

Blog post from the Pace University (NY) SBDC:
“Crowdfunding as an economic recovery tool”
March 25, 2020


Internal Revenue Service (IRS)
Coronavirus Tax Relief for Businesses and Tax-Exempt Entities

IRS Launches Employee Retention Credit Mar. 31, 2020

This program provides a fully refundable tax credit for 50% of wages, up to $10,000, for each employee kept on the payroll by businesses that have taken a financial hit because of the pandemic. Businesses qualify if they have been fully or partially shuttered by government order, or if their gross receipts are below 50% of what they took in during a comparable quarter in 2019.

Carranza Implements Automatic Deferment on Existing SBA Disaster Loans Through End of 2020

Mar. 23, 2020 – U.S. Small Business Administration Administrator Jovita Carranza announced changes to help borrowers still paying back SBA loans from previous disasters. By making this change, deferments through December 31, 2020, will be automatic. Now, borrowers of home and business disaster loans do not have to contact SBA to request deferment.


"Does Your Consumer Affairs License Expire February through June 2020?"
NYC Department of Consumer Affairs

In light of the COVID 19 pandemic, the NYC Department of Consumer Affairs (DCA) is extending certain license expiration dates and renewal application deadlines. The notice found here contains additional details. For more information about licenses and license renewals during this time we encourage you to visit these pages:

Governor’s Office
List of Executive Orders

Particularly those that begin with the number 202, including:

Executive Order No. 202.13: Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency
March 30, 2020

Executive Order No. 202.10 – Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency
March 20, 2020
Relating to categorization of essential vs. non-essential businesses

Executive Order No. 202.10 – Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency
March 20, 2020
Relating to categorization of essential vs. non-essential businesses

Also on this subject:
Frequently Asked Questions
From NYS Empire State Development:

Guidance to Mortgage Servicers – Support for Borrowers Impacted by COVID-19
New York State Department of Financial Services Mar. 19, 2020

“In response to this crisis, the Department is issuing guidance to urge all regulated and exempt mortgage servicers to do their part during this outbreak to alleviate the adverse impact caused by COVID-19 on those mortgage borrowers (“mortgagors”) who demonstrate they are not able to make timely payments, including taking reasonable and prudent actions, and subject to the requirements of any related guarantees or insurance policies, to support those adversely impacted mortgagors by:

Guidance to Financial Institutions Regarding Support for Consumers & Businesses Impacted by COVID-19
New York State Department of Financial Services
Mar. 19, 2020

“In response to this crisis, the Department is issuing guidance to urge all regulated financial institutions during this outbreak to do their part to alleviate the adverse impact caused by COVID-19 on those consumers and small businesses that can demonstrate financial hardship caused by COVID-19, including taking reasonable and prudent actions to support impacted New Yorkers by:


Families First Coronavirus Response Act: Employer Expanded Family and Medical Leave Requirements
U.S. Department of Labor
Hour and Wage Division

The Families First Coronavirus Response Act (FFCRA) requires certain employers to provide their employees with expanded family and medical leave for specified reasons related to COVID-19.

These provisions will apply from the effective date (April 1, 2020) through December 31, 2020.

Provisions of the FFCRA apply to certain public employers, and private employers with fewer than 500 employees. (Certain provisions may not apply to certain employers with fewer than 50 employees, but regulations on these won’t be known until April 2020).

Go to the website to learn about covered employers, duration of leave, calculation of pay, tax credits, and other information.


NYS Department of Labor
What You Need to Know and Do About the CARES Act

Provides information on how to determine whether you are eligible for Unemployment Insurance or Pandemic Unemployment Assistance. Features an excellent flowchart to help you determine what you need to do.


a) OpenForBusiness
A list of technology companies that are helping small businesses by enabling remote work during the COVID-19 outbreak. Most of these are either free trial runs, or expansion of services to current subscribers. Each company is offering its own separate deal, so be sure to read the descriptions for each.

b) Zoom (video communications)
Their basic meeting plan has always been free:
Their Help Center has articles and video tutorials on how to get the most out of their product:

c) Slack (free version)
Collaboration software designed for use by teams within a company/organization


Use this tool to find a nearby lender eligible to issue a loan under the Paycheck Protection Program:


If you’ve completed an application for the Economic Injury Disaster Loan (EDIL) and/or the EDIL Emergency Advance since March 29, 2020, you should have a confirmation number for that application.

If you have not received any updates yet from SBA, you do not need to contact the customer service number. Your application is still pending, and is being processed in the order that they were received.

As of today (4/14/2020), we’re hearing from small business applicants that have received EDIL approvals (as well as EDIL Advance disbursements).

It’s tough to ask for patience in this difficult time, but please know that your applications are being worked through.