More disaster relief resources
Businesses and not-for-profits in New York State have been severely impacted by the spread of COVID-19. The safety measures designed to slow the spread of the virus have forced non-essential businesses to close. A growing number of government and private relief programs are available for financial assistance, protection from eviction and loan deferment programs:
U.S. Small Business Administration (SBA) Economic Injury Disaster Loan Program
The SBA is providing working capital loans of up to $2 million to help small businesses, including not-for-profits, impacted by COVID-19. The interest rate on these loans will be 3.75% for small businesses and 2.75% for not-for-profit entities. Note: the loans can be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred,
but are not intended to replace lost sales or profits.
Apply online at
Facebook Small Business Grants Program
Facebook will be offering $100 million in cash grants and ad credits to help small businesses impacted by COVID-19. They are not yet accepting applications, but you can
sign up for updates here.
Small business assistance programs provided by lenders
Many banks have already offered loan deferments to business customers having trouble making their loan payments. Refer to the American Bankers Association website (
) for a list of banks providing relief.