Dear Lincoln Square BID Members and Friends:
As the COVID-19 virus continues to spread around New York City and surrounding areas, it is important to track the impact of the virus on your operations and to be aware of how your business may be able to receive assistance during the pandemic.
Because businesses have started to feel an impact related to coronavirus, the Mayor announced this past weekend that
that there will be assistance provided to small businesses:
- 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.