The Flatiron/23rd Street Partnership is closely following the response from the City, State, and Federal governments and has compiled financial resources for small businesses, nonprofits, and employees below.
Updated June 2, 2021: New York State recently announced its Business Pandemic Recovery Initiative programs—including $800 million in State funding for small businesses—and rental assistance for tenants. 330,000 small businesses are eligible for grants up to $50,000. Applications open June 10th.
April 19, 2021: The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. Through Fair Share NYC: Restaurants, the NYC Department of Small Business Services (SBS) and Mayor’s Office of Media and Entertainment (MOME) are providing assistance to applicants. Sign up here.
April 8, 2021: The Shuttered Venue Operators Grant (SVOG) program was established through the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act and amended by the American Rescue Plan Act to provide over $16 billion in economic relief to target industries. SVOG is for operators of live venues, live performing arts organizations, museums and movie theatres, as well as live venue promoters, theatrical producers and talent representatives to apply for critical economic relief, as those eligible entities are some of the first that had to shutter their doors a year ago in response to the COVID-19 pandemic.
January 11, 2021: $284 billion was just allocated for another round of the Paycheck Protection Program (PPP), a forgivable business loan offered through the federal government’s Small Business Administration that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. This new package provides additional funding for businesses that did not receive PPP money in the first round, especially minority- and women-owned businesses. Applications for small lenders opened January 15th and January 19th for all lenders. Applications details below and click here for First-Time borrowers and here for returning applicants.
January 11, 2021: The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to coronavirus (COVID-19). The Economic Injury Disaster Loan (EIDL) Advance is a grant of up to $10,000 for businesses in low-income communities who apply for the EIDL.
December 12, 2020: New York Forward Small Business Lease Assistance PartnershipRecognizing the economic impact of COVID-19, this program between the Empire State Development Corporation, Start Small Think Big, and the New York State Bar Association, will provide small businesses and their landlords with informational resources and pro bono assistance to help both parties reach mutually-beneficial lease workout agreements. This service is available to all New York State small businesses and landlords, and participation is voluntary. Learn more here.
December 9, 2020: NYC Small Business Resource Center: The Center is a unique private/public partnership created to provide local businesses with the free personalized guidance they need right now to survive the pandemic. Through this program, small businesses will be matched with specialists offering one-on-one support in their borough.
The State of NY recently launched a “Find Services” web app to assist New Yorkers in locating appropriate services with one streamlined website. Answer the questions to be directed to services that can help >> Find Services.
EMERGENCY FINANCIAL ASSISTANCE PROGRAMS – SMALL BUSINESSES & NONPROFIT
Paycheck Protection Program:The Paycheck Protection Program (PPP) provides small businesses and nonprofits with funds to pay for payroll costs including benefits, rent, utilities, and interest on mortgages. Applications opened with small lenders on January 15th, all lenders January 19th.
If you have questions about PPP loan forgiveness, we have contacts at two SBA Small Business Development Centers (SBDC) that can offer 1:1 assistance at no cost. Please reference the Flatiron 23rd Street Partnership when contacting.
NYC Small Business Resource Center: The Center is a unique private/public partnership created to provide local businesses with the free personalized guidance they need right now to survive the pandemic. Through this program, small businesses will be matched with specialists offering one-on-one support in their borough.
Manhattan Chamber of Commerce Help Desk: For expert advice on a variety of small business topics (finding, legal issues, government regulations, staffing, marketing, real estate, health care, technology, etc.), businesses can utilize the Manhattan Chamber of Commerce Help Desk. No need to be a Chamber member, the Help Desk is currently open to all who need it.
The State of NY recently launched a “Find Services” web app to assist New Yorkers in locating appropriate services with one streamlined website. Answer the questions to be directed to services that can help >> Find Services
NY Unemployment Insurance: New York State is waiving the 7-day waiting period for unemployment insurance for those who are out of work due to COVID-19, quarantine, and any associated policies.
Mental Health Support for New Yorkers: While the City stays home to stop the spread of coronavirus, New Yorkers can access a wide range of mental health services by phone and online. Mental health services are free for New Yorkers regardless of insurance coverage or immigration status.