New York City has been offering relief to certain eligible businesses affected by COVID-19. As of April 10, 2020, the NYC Small Business Continuity Loan Fund has paused application intake due to overwhelming interest in the fund. Additionally, the NYC Employee Retention Grant is no longer accepting applications. It is unclear at this moment when application intake will resume, if at all. Please check the NYC Small Business Services website for further updates.
 
Through the NYC Employee Retention Grant, businesses with less than five employees may have been eligible for grants of up to $27,000. Through the NYC Small Business Continuity Loan Fund, certain eligible businesses with less than 100 employees may have been entitled to zero interest loans of up to $75,000.
 
More information regarding the programs and their eligibility criteria can be found in our firm’s blog article dated March 31, 2020.