** Updated August 11 **

We have compiled the following list of available funding resources to help our small business clients navigate the unprecedented challenges caused by the current crisis. The list - and programs listed - are subject to change given the evolving situation.  We attempt to provide regularly updated information.

Grants and Loan Programs   

The Hispanic Federation is offering grants of $10,000-25,000 to member agencies and Hispanic non-profits

Robin Hood announced that it will accept applications on a rolling basis for grants to nonprofits (501(c)(3) only) providing or expanding emergency assistance to vulnerable populations 

The Verizon / LISC small business grant program completed its latest round of funding,  Applications for the next round will open August 31

The Columbia Emergency Loan Fund is a relief program for independently owned, locally managed storefront businesses above 96th Street with 50 or fewer employees.  The program offers 5-year loans of $5-50K with interest deferred for the first year 

Renaissance is offering emergency loans covering Manhattan Chinatown, Koreatown, Jackson Heights, Flushing, Sunset Park, and other neighborhoods 

The Citizens Committee Neighborhood Business Grant will provide grants of $5,000 - $10,000 to help small businesses maintain payroll and operations and will prioritize businesses owned by people of color, immigrants, and women and proposals that focus on adapting businesses to the challenges of COVID-19 

Brooklyn Alliance Capital is offering grants for purchase of PPE and zero-interest Bring Back Brooklyn Loans of up to $10K

The Brooklyn Community Foundation is offering Immediate Response Grants of up to $10K on a rolling basis to organizations on the front line of helping to address the social, health, and economic impacts of the coronavirus on Brooklyn's most vulnerable communities, with an explicit focus on supporting communities of color 

The Bronx Overall Economic Development Corp (BOEDC) is offering zero-interest, 2-year Business Continuity Loans of $25-100K.

The Queens Chamber of Commerce Micro Grant will provide $1,000 to $5,000 to Queens small businesses to purchase PPE and IPC and will link grantees with local vendors to purchase products and services.

Hello Alice is offering $10K grants to small businesses “severely impacted by Covid-19”  The final round will be open June 26th-July 16th

Red Backpack Fund (Spanx) will provide 1000, $5000 grants, at least 200 each month, May-September.  Applicants should be majority women-owned businesses and nonprofits with less than $5m revenues and fewer than 50 employees (but at least one additional non-paid employee on staff).  Applications are open through September 15

Shea Moisture is offering three separate programs totalling $1M to businesses supporting communities through Covid-19 and Black-owned businesses facing Covid-19 hardship, as well as an E-Lab (with a potential funding opportunity) for women of color entrepreneurs

Freelancers Relief Fund will offer financial assistance of up to $1,000 per freelance household to cover lost income and essential expenses not covered by government relief programs

The Zakat Fund is offering support to 501(c)(3) organizations working to support residents of the NYC metropolitan area

The Global NY Fund is open to NYS-based companies looking to create or expand export programs or serve as suppliers to larger exporters. Loans are available to purchase equipment, inventory, working capital to support foreign accounts receivable, export lines or credit, or long-term financing 

To support Black-owned businesses, DoorDash is offering $0 delivery fees and has also offered to match funds on 0% interest loans made to Black-owned businesses via their partnership with Kiva

Facebook has announced plans to provide cash funding and advertising credits to up to 30,000 small businesses worldwide. Details and application are not yet available

Google has announced plans to provide up to $340M in advertising credits through the end of 2020 to small businesses worldwide who are existing advertisers on the platform.  Small- and medium-sized businesses who advertised on Google in ten out of twelve months in 2019 and either January or February of 2020 will receive credits toward future Google advertising spend


Kiva has expanded eligibility, increased the maximum loan size from $10,000 to $15,000 and introduced a six-month grace period on its
zero-interest crowdfunded loans.

Businesses affected by coronavirus who launch a campaign on GoFundMe may qualifty for a Small Business Relief Fund matching grant of up to $500

Mainvest has introduced the "Main Street Initiative". Existing bricks-and-mortar businesses negatively impacted by the virus that launch a funding campaign for a Mainvest revenue-based loan may be eligible for an immediate, $2000 zero-interest loan.  

Industry-Specific, Resource and Reopening Listings

SCORE has checklists for reopening small businesses, retail businesses and restaurants, as well as action plans for a range of other businesses

NYC offers a range of Covid-19 guidance for business owners, including a tool to check which phase of reopening your business belongs to, business and restaurant reopening guidelines, FAQs and links to webinars and other resources  

CovidCap, launched by Duke’s Fuqua School of Business, provides a centralized listing of Covid-related loans and grants for small business and nonprofits.  Registration is required.  GrantSpace has also compiled a searchable database of Covid-relief programs and other resources

Both the NY State Council on the Arts and the Bronx Council on the Arts provide grants and other resources for artists.  Other resources for artists include Comedy Gives Back, the American Society of Journalists and Authors’ Writers Emergency Assistance Fund, the Recording Academy’s MusiCares Covid-19 Relief, the Foundation for Contemporary Art’s FCA Emergency Grant Covid-19 Fund.  The Covid-19 Freelance Artist Resource offers a crowdsourced list

The National Council for Nonprofits and the Nonprofit Finance Fund have both compiled Covid-19 resources for nonprofits

Both the National Restaurant Association and the James Beard Foundation have resources, reopening guides, advocacy and other information for the restaurant industry  

The AICPA Benevolent Fund  provides short-term assistance for members experiencing difficulty due to unemployment, accidents, medical expenses, natural disaster or the loss of a primary source of family income

This list of resources for unemployed New Yorkers outlines sources of assistance with food, housing, student loans and other issues

Running a business is always stressful and these are particularly anxious times.  Anyone needing assistance with stress, depression, anxiety, or substance abuse can call, text or chat with NYC Well for free, confidential mental health support.

SBA Programs

The Small Business Administration has announced several funding programs to assist businesses negatively affected by Covid-19.  

  • Programs are available for businesses and nonprofits in operation as of February 15, 2020, including sole proprietorships, independent contractors and eligible self-employed individuals

  • Economic Injury Disaster Loans (EIDL) of up to $2M have maturities of up to 30 years. Pricing is 3.75% for businesses, 2.75% for nonprofits.  Programs subject to Congressional funding appropriations and is scheduled to end December 31.  Application information below.  (Please note that the EIDL Advance is no longer available.)

  • The Small Business Debt Relief Program covers all interest, principal payments and fees on non-emergency SBA loans (7A, 504, microloans) through September 27; this also applies to any new non-emergency loans made before that date.   

  • The Main Street Lending Program is designed to make it less risky and more economical for banks to lend to small- to medium-sized businesses (minimum loan size is $250K).  Loan sizes are tied to EBITDA on a sliding scale based on existing debt.  The program is due to launch in June and will be administered directly by banks.  Companies who think they may qualify should contact their lender so as to be apprised as programs and applications become available. 

  • The Paycheck Protection Program (PPP) expired as of August 8.  Recipients of a PPP should see below for additional information on documentation and forgiveness.

NY State and City Programs   

New York Forward Loan Fund (NYFLF) will offer loans to small businesses, nonprofits and small landlords as they reopen after the Covid-19 PAUSE.  Organizations with 20 or fewer full-time equivalent (FTE) employees that have not received PPP or EIDL loans for Covid-19 are eligible.  The program will offer 5-year loans at 3% interest for businesses, 2% for nonprofits; loans are interest-only for the first year.

New York’s Shared Work Program lets companies keep trained staff and avoid layoffs. Employees can receive partial Unemployment Insurance benefits while working reduced hours. Full-time, part-time and seasonal employees are eligible. Companies can apply online through the NY Department of Labor.

IRS Programs

The IRS has several programs in place to allow businesses to delay tax payments and thus conserve cash.  

  • The Employee Retention Tax Credit* provides a refundable tax credit of up to $5000 per employee for businesses experiencing economic hardship as a result of the Coronavirus crisis

  • Payroll Tax Deferral allows employers to defer the employer portion of Social Security tax for the remainder of the year; amounts will be due 50% in 2021 and 50% 2022

*Note that the Employee Retention credit can not be used in combination with the PPP loan program

SBA Loan Applications and Process

EIDL loans and grants:  

  • Interested businesses are advised to apply as soon as possible.  The CARES act stipulated that EIDL would be open through December 31; the application lists a September 30 expiration, but applications closed before and there is no guarantee they’ll remain open. 

  • We recommend that applicants record the unique application number received once the application is completed, as this will help you track application status.  Application status can be checked at the Disaster Center: 1-800-659-2955 or disastercustomerservice@sba.gov.  Any contact from the SBA will include this number (see fraud alert, below).  

PPP applications have now closed.  

  • Businesses who have been approved for or received a PPP loan should segregate funds and document payroll and spending.  See our guide to Tracking PPP Spending and Forgiveness for information, including how to understand forgiveness targets and, if necessary, make adjustments that may enhance potential forgiveness.  

Fraud Alert 

The value and level of activity surrounding the COVID-relief programs has heightened the possibility of fraud.  Please beware:

  • Share financial information only with your bank or the SBA.  The SBA and city agency web sites and emails all end with “.GOV” extension

  • The SBA does not initiate contact.  Any communication regarding an application already received will reference the application number provided to you by the SBA.  Make sure they are identical.

  • You should not need any agent, broker, eSignature provider or other outside service to complete the loan.  Beware of anyone offering these or related services

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Coronavirus Funding Support for NYC