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.
As we move into the next stages of this ongoing process, many small businesses need legal assistance for a variety of reasons - lease assistance, help securing resources, insurance questions, and other needs. If you do not have access to a lawyer or cannot currently afford one, here are some options.
Cooper Square Committee: This nonprofit, community-based partner with SBS’s Commercial Lease Assistance Program, is offering free legal assistance. For more information on this SBS program, see below. Any commercial tenant who would like to have a lawyer review their lease for free and think through the negotiation process, Contact firstname.lastname@example.org for more info.
City Bar Justice Center: The City Bar Justice Center's Neighborhood Entreprenuer Law Project is offering free legal assistance for any small businesses on any topic from stimulus programs, leases, and more. Learn more and apply here.
Himmelstein, McConnell, Gribben, Donoghue, and Joseph: HMGDJ is one of New York City's premiere tenants' law firms. They are now offering free 10 minute consultations to commercial and residential leaseholders in need of assistance. Visit their website or call (646) 666-8496.
Commercial Lease Assistance Program: This program from the New York City Department of Small Business Services provides businesses free legal assistance with their leases, including amendments or altering the lease. If you need to make changes to your lease due to COVID-19, they must be done so that they are legally binding. This service help ensure that will happen. Learn more here.
At this time, some federal and city loan and grant programs are on hold. We will update this page if more funds become available. 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 receiving one does not make you ineligble for any others or affect your chances of receiving funding.
FEDERAL FINANCIAL RESOURCES:
Currently, federal loan programs are reopened as of April 27th. We expect funding to be depleted quickly, so we are urging NoHo businesses to apply as soon as you possibly can. For more deteilaed information on federal financial resourcs, click here.
- Paycheck Protection Program: The Paycheck Protection Program is a refundable loan designed to cover employee wages while your business is shuttered or facing reduced sales. Businesses will be able to recieve up to 2.5 times one month's payroll, capped at $100,000 per employee. This includes benefits like healthcare. retirement, etc. and applies to lost comissions, tips and other lost wages. Loan applications are generally submitted through your lender or bank, however some other entities like Square and PayPal allow customers to submit applications as well. Apply here.
- EIDL Cash Advance: This cash advance is currently not open to new applicants. The EIDL Cash Advance provides employers with $1,000 per employee, up to $10,000 in emergency funding. This advance does not need to be repaid, even if you are denied the loan or choose not to accept the package offered to you. Within three days of submitting your application, you will recieve the advance. Learn more here.
- Economic Injury Disaster Loans (EIDL): If you applied for the first round of EIDL loans, but did not hear back, you are likely already in the queue and your original application will be processed. New applications will be accepted pending availability of funds. We will update this page when new applications are accepted by the SBA. This low-interest loan provides businesses up to $25,000 in emergency funding. The SBA has greatly streamlined the application, and it is a quick process. Notably, this option is well-suited to applications from sole proprietors and contractors. Get more information here.
NEW YORK CITY FINANCIAL RESOURCES:
For more detailed information on City resources, click here.
- Small Business Continuity Loan: This loan program is not currently accepting new applications, but may reopen in the future. 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.
- Certain City License Renewals and Applications Extended: The City of New York has extended applications and renewals for certain licenses, including sidewalk cafes. See the full list here.
- The City of New York Department of Finance is waiving certain business fees and taxes due through April 25th. It's unclear if this program has been extended. We will update this page when we have more concrete information. 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 and individuals. To see the full list, click here.
- Financial Resources from Private Companies are also available. This is a great option if you're trying to build out online sales or are still open and struggling. Learn more here.
- Resources for Artists, across disciplines, are available. See 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.