We understand Coronavirus is a concern for NoHo businesses, workers, and residents. This is a rapidly evolving situation, and we will provide the most up-to-date information we have. Please check back here for updates; we will update this page with new resources as we recieve them. If you need resources in a language other than English or have a question, please reach out to us. Updates from the NoHo BID are regularly sent out to our email list. Join our newsletter here.
At this time, we are suggesting you apply to all resources you are eligible for. We understand that there are no penalties to applying for any of these programs, and recieving one does not make you ineligble for any others or affect your chances of recieving funding.
FEDERAL FINANCIAL RESOURCES:
For detailed information on Federal Resources, click here.
- Economic Injury Disaster Loan Advance: Small businesses, sole-proprietors, nonprofits, and others are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This $10,000 is disbursed in three days and does not need to be repaid, even if you aren't approved for a loan or reject your loan offer. Apply here.
- Economic Injury Disaster Loan: Designed to help cover operating expenses and costs, eligible businesses may receive up to $25,000 in unsecured loans and up to $2,000,000 in loans backed with collateral. If you applied for the Advance, you have already completed the application for this loan, though you will need more documentation later in the process. Repayment is spread over 30 years with an interest rate of 3.75%. Apply here.
- Paycheck Protection Program: This loan covers up to 2.5 times your average monthly payroll, and is entirely forgiveable if you keep employees on payroll or re. The application may be released as early as this Friday, April 3rd. We will post the application here as soon as it becomes available. For more information, click here.
- Federal Tax Credits and Waivers for workers and small and medium size businesses affacted by the Coronavirus are being released. Details available here.
NEW YORK CITY FINANCIAL RESOURCES:
For more detailed information on City resources, click here.
- Small Business Continuity Loan: Businesses with fewer than 100 employees, seeing a documented 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. Fill out the application here.
- Employee Retention Fund: The City is offering eligible small businesses with fewer than five employees a grant to cover 40% of payroll costs for two months to help retain employees. Apply here.
- The City of New York Department of Finance is waiving certain business fees and taxes due through April 25th. For more information, click here.
NEW YORK STATE FINANCIAL RESOURCES:
For more detailed information on State resources, click here.
- Commercial and Residential Evictions are suspended state-wide for the next 90 days as part of New York PAUSE. Details can be found here.
- Late Payment of State Sales Tax will not incurr any interest or fees through April 25th. You must still file, only the payment is able to be deferred. Learn more here.
- Property and Casualty Insurance premiums are waived for small businesses affected by COVID-19. More information is available here.
OTHER FINANCIAL RESOURCES:
- Financial Resources from Philanthropic Institutions are available for many businesses. To see the full list, click here.
- Financial Resources from Private Companies are also available. Check out our guide here.
- Workplace Guidance for employers, including how to conduct layoffs, click here.
New York State COVID-19 Updates are available here.
City of New York COVID-19 Updates are sent over text. To sign up, send COVID to 692-692.