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The Service Corps of Retired Executives (SCORE) NYC has compiled a list of funding resources for small businesses in New York City in need due to the spread of COVID-19. Check Score's site for updates to their list. The list as of March 30, 2020 is below.
The Small Business Administration (SBA)
Emergency funding is available in Loans up to $2M at maturities up to 30 years.
Pricing is set at 3.75% for businesses and 2.75% for nonprofits. Apply here.
NYC
Small businesses that have experienced a decrease in revenue of 25% or greater are eligible to apply for zero interest loans of up to $75k. Apply here.
Small businesses with fewer than 5 employees are eligible for a grant to cover 40% of payroll costs for two months. Apply here.
New York Community Trust
The NYC COVID-19 Response and Impact Fund is offering loans and grants to nonprofits with priority given to those providing services for essential healthcare and food needs in the city. Apply here.
Crowdfunding: Kiva
Kiva offers a maximum loan of $15k with a new six-month grace period for zero-interest crowdfunded loans. Apply here.
Crowdfunding: Mainvest
The Main Street Initiative allows brick-and-mortar businesses to launch a funding campaign for a revenue based loan. Applicants may be eligible for an immediate $2k zero-interest loan. Apply here.
Facebook is planning to provide $100M in cash grants and advertising credits for up to 30,000 small businesses. Applications are now open as of March 30. Click here to sign up for further updates.
Have questions related to anything you've read above? Feel free to connect with us using the Contact form at the bottom of the Home page.