Resources For Businesses: Loans & Grants
Here are some Business Resources to get you through the Corona Virus Crisis. We’ll be updating this page as we get new information, so please check back frequently.
NYC Employee Retention Grant Program
Available to New York City businesses with one to four employees that can demonstrate at least a 25% decrease in revenue as a result of COVID-19. Eligible businesses will receive a grant covering up to 40% of their payroll for two months. Businesses can access up to $27,000. Gather the appropriate documents
NYC Small Business Continuity Fund(Zero-Interest Loans)
Businesses with fewer than 100 employees who are seeing a decrease in revenue of 25% or more will be eligible for zero-interest loans up to $75,000 to help mitigate profit losses.
Federal Small Business Administration Assistance Loans
As a small business, small agricultural cooperative, small business engaged in aquaculture, or private non-profit organization, you may borrow up to $2 million. Choose ‘Economic Injury‘ as the reason for the loan request.
SBA Disaster Assistance in Response to the Coronavirus
The Stony Brook SBDC is one of the SBA’s designated Partners to provide support services for this effort.
Click Here for more information and guidance in submitting your application.