Latest Updates and Resources for Astoria’s Small Businesses
We are working at the highest levels of advocacy to secure immediate, decisive assistance for our small businesses. Find the latest information on resources that may be available to you here.
NYC Department of Small Business Services Loans and Grants
The Mayor announced this past weekend that there will be assistance to small businesses to help them adapt to changing customer behavior. Businesses may qualify for low-interest loans and employee retention grants.
Employee Retention Grants are now live; click here to access the application. Haga clic aquí para descargar la lista de documentos requeridos en español. These grants offer eligible small businesses with fewer than five employees a grant to cover 40% of payroll costs for two months to help retain employees.
A 0% loan program application will also be released soon by SBS. Businesses with fewer than 100 employees, seeing a decrease in sales up to 25% or more will be eligible for zero interest loans up to $75,000 to help mitigate losses in profit. Please fill out the below form to receive an application when it’s available. Only businesses that fill out the form will have the grant sent to them.
Click Below on Your Language for More information on Employee Retention Grants and Small Business Loans through SBS:
Small Business Association Disaster Loan Program
This is a federal disaster loan program to help with economic loss you might be facing. To apply to the program please visit this website. Important: use Economic Injury for reasoning to ensure you are applying for the correct loan program. Important information about this loan:
You must be experiencing a business loss due to COVID-19
You may qualify for loans up to $2million
The maximum unsecured loan amount is $25,000.00
Interest rates: 3.75 for small business. 2.75% for Not for profit
Term – up to 30 years
You can use these funds for: working capital, pay fixed debts, payroll, account payable, other bills that could have been paid had the disaster not occurred.
Loans are NOT intended to replace lost sales or profits or for expansion.
There is no obligation to take the loan if offered.
Applicants can have an existing SBA Disaster loan or other SBA loan and still qualify for EIDL for this disaster, LOANS CANNOT BE CONSOLIDATED
Facebook Small Business Grants
Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses. This grant is currently not active, but you can sign up to recieve information directly, view this website for details.
Find out what benefits you are eligible by through Access NYC
Bartender Emergency Assistance Program
If you are a bartender who is being affected by COVID-18 click here to learn about an assistance program that may help you and your family.
One Fair Wage Emergency Fund
Service workers can apply here to be part of the one fair way emergency fund.
If you are unemployed due to COVID-19 you may file for unemployment. They have waived the 7 day waiting period for people out of work due to closures or quarantines. Apply here for unemployment assistance.
Restaurant Community Fund
We are here to help you stay on top of up-to-the-minute mandated changes to business hours, closures, and practices. find the latest information here on breaking developments.
*The IRS has released more details on their plan to implement Coronavirus-related paid leave for their workers, including tax credits for small and midsize businesses to quickly recover these costs. Please talk to you accountant if your staff has been affected by Coronavirus, and read more details on the IRS’ website.
*Effective Saturday March 21st at 8pm Gov. Cuomo has mandated the closure of all tattoo parlors, hair salons, nail salons and other personal care businesses. If your business is impacted continue reading below to find resources for supporting you and your employees.
*The State of New York is waiving late fees for sales tax payments from businesses due on today’s deadline March 20, 2020. All penalties and late charges associated to late filings will be forgiven.
*Governor Cuomo signed an executive order mandating businesses that rely on in-office personnel to decrease their in-office workforce by 100%.Exemptions from the order will include shipping, media, warehousing, grocery and food production (including bars and restaurants open for takeout/delivery only), pharmacies, healthcare providers, utilities, banks and related financial institutions. Here is guidance on whether your business is subject to this reduction or not.
*The Department of Financial Services has issued a new directive to New York State mortgage servicers to provide 90-day mortgage relief to mortgage borrowers impacted by the novel coronavirus.
*Testing is free for all eligible New Yorkers as ordered by a health care provider.
*Your local health department is your community contact for COVID-19 concerns.
*Families First Coronavirus Response Act (FFCRA; “The Act”) was signed into law on March 18, 2020, and generally requires employers with less than 500 employees to provide a certain amount of paid sick and paid leave to employees affected by COVID-19, and provides affected employers with a corresponding employment tax credit. In addition, the FFRCA temporarily expands the Family and Medical Leave Act (FMLA) requirements to offer protected leave related to the coronavirus. In short the act allows up to two weeks or one week of paid sick leave depending on the size of your business. The Act contains three sections of particular interest for employers:
Emergency Family and Medical Leave Act Expansion
Emergency Paid Sick Leave
Tax Credits for Paid Sick and Paid Family and Medical Leave
For more information on the act please visit this website. We recommend that businesses contact their insurance brokers to understand how to help your employees during this time.
RESOURCES & TOOLS
Links to the latest resources to help you and your business stay safe and help prevent the spread of germs.
Here is some information to help your business combat the spread of germs and tips to address changing behavior.
Grab & Go signs for shop windows, flyers and social media. Perfect for any restaurant, bar, cafe or food shop.
When using printed signs for shop window, add web address and phone number.
Offer a few pre fix family meal options each day. Let’s you offer a good price while saving on food costs.