Barton will monitor, add to, and update this information as it becomes available.
Small Business Administration (SBA)
The SBA has agreed to offer targeted, low-interest disaster recovery loans to impacted businesses to help overcome the temporary loss of revenue they are experiencing. Here are some key points about the Economic Injury Disaster Loans (EIDL):
They’re available to qualifying small businesses with no other access to credit and can be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
NYC COVID-19 Response and Impact Fund
A group of foundations, philanthropies and other organizations – including Bloomberg Philanthropies, Carnegie Corporation of New York, Ford Foundation, The Andrew W. Mellon Foundation, among others — is making available $75 million in grants and no-interest loans to New York City Not-for-Profits to fund a variety of activities, including:
To be eligible, an organization must meet the following criteria:
New York City Small Business Continuity Fund
Small businesses located in New York City that have been financially impacted by the pandemic are eligible to access the New York City Small Business Continuity Fund as a source of capital. Interest-free loans of up to $75,000 from the Fund are available for businesses that meet the following requirements:
Eligible small businesses interested in applying for a Fund loan should be prepared to provide substantiation of the business’s drop in revenue from point of sale reports, bank statements, quarterly sales tax filings or CPA certified profit and loss statements, the business’s most recent tax returns (tax year 2019 if available) and demonstration that the business will be able to repay the loan.
Business owners may apply online (Pre-Application for the NYC Small Business Continuity Loan Fund). Additional questions should be emailed to Covid19biz@sbs.nyc.gov.
If you are a quarterly or annual sales tax vendor, and you were unable to file or pay your March 20, 2020, sales tax return due to COVID-19, you may be eligible to apply to have penalty and interest waived.
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