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COVID-19 Small Business Resources
CARES ACT:The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress and signed into law on March 27, 2020. This over $2 trillion economic relief package is meant to keep businesses and individuals afloat during this unprecedented freeze on the majority of American life. The CARES Act includes more than $375 billion in small business relief.
For more information about the CARES Act, please click on these resources:https://home.treasury.gov/policy-issues/caresSmall Business Owner’s Guide to the CARE Act
SMALL BUSINESS ADMINISTRATION (SBA) RESOURCES:
** Please Note: **Lapse in Appropriations Notice: SBA is unable to accept new applications at this time for the Paycheck Protection Program or the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding. We will continue to provide updates here on the status of funding availability.
In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak.
This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program.
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic.
NEED HELP FILLING OUT AN SBA LOAN APPLICATION?Westchester County is working with Volunteer New York! to connect small business owners with trained volunteers who can provide technical assistance in filling out SBA loan applications. For more information click this link: https://www.volunteernewyork.org/vvc
COMMUNITY CAPITAL NEW YORK:Community Capital New York is offering Emergency Express Loans for small businesses in the Hudson Valley. For more information click on this link: https://communitycapitalny.org/emergency-express-loan/
UNEMPLOYMENT INSURANCE:The CARES Act provides enhanced Unemployment Insurance (UI) benefits and Pandemic Unemployment Assistance (PUA). Click here for Unemployment Insurance resources.
ADDITIONAL RESOURCES:Novel Coronavirus FAQ for Businesses from Empire State Development (ESD)Submit Your COVID-19 Related Business Questions to ESDGuidance for Businesses from ESD on Essential Businesses and EntitiesRequiring Face Coverings for Public and Private EmployeesProtocols for Essential Personnel to Return to Work Following COVID-19 Exposure or Infection