The U. S. Small Business Administration and the
NYC Business Solutions have programs to assist small businesses impacted by the
COVID-19. Details of loan and grant programs in place and being finalized.
Further information of the SBA.gov website and
NYC.gov/sbs/businesses/covid-19-business-financial-assistance.page
The Bronx SBDC at Lehman College business
advisors ready to assist. Contact us via our email at sbdc.bronx@lehman.cuny.edu or
leave message at 718-960-8806.
For additional information, contact:
Clarence Stanley, Executive Director CLARENCE.STANLEY@lehman.cuny.edu
Small Business Development Center
Lehman College School of Continuing &
Professional Studies
250 Bedford Park Blvd. West, Carman Hall 128
Bronx, NY 10468
(718) 960-8697
Cell (718-960-8806
Fax (718) 960-7340
Assistance & Guidance for Businesses Impacted Due to Novel Coronavirus
Mayor Bill de Blasio announced on March 8 that the City will provide relief for small businesses across the City seeing a reduction in revenue because of COVID-19. Businesses with fewer than 100 employees who have seen sales decreases of 25% or more will be eligible for zero interest loans of up to $75,000 to help mitigate losses in profit.
The City is also offering small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees.
Learn More and Apply for the NYC Employee Retention Grant Program
Learn more about financial assistance for businesses impacted by COVID-19.
Below is some information to help you and your business stay safe and prevent the spread of germs. This is a rapidly changing situation, visit the NYC Health website for more up-to-date information, including FAQs for employers.
We encourage you to sign up to receive updates, and please continue to monitor your email – we will send information regarding the new loan and grant program for impacted small businesses, including application links, in the coming days.
Here is some information to help your business combat the spread of germs and tips to address changing behavior.
Business Continuity Planning Checklist
Business Planning Checklist for Pandemics
Eligibility Criteria for the NYC Employee Retention Grant Program
Businesses, including non-profits, must:
- Be located within the five boroughs of New York City
• Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue
• Employ 1-4 employees in total across all locations
- Have been in operation for at least 6 months
- Have no outstanding tax liens or legal judgements
Eligibility Criteria for the NYC Small Business Continuity Fund
Businesses must:
- Be located within the five boroughs of New York City
- Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue
- Employ 99 employees or fewer in total across all locations
- Demonstrate ability to repay the loan
- Have no outstanding tax liens or legal judgements
We will be in touch as soon as possible about the application process and next steps.
You can help your businesses begin to gather the documents they are likely to need in preparation
As part of the applications, businesses will be required to demonstrate a revenue decrease by providing documentation such as: point-of-sales reports, bank statements, quarterly sales tax filings, 2019 tax returns, or CPA-certified profit & loss statements.
The situation is quickly changing. We recommend visiting www.nyc.gov/coronavirus for the most up-to-date information from the NYC Department of Health. You can also visit www.nyc.gov/covid19biz for best business practices and updates regarding financial assistance.