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NYC Employee Retention Grant Program

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NYC Employee Retention Grant Program The City is offering small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees.  Eligibility Criteria for the NYC Employee Retention Grant Program Businesses, including non-profits, must:  Be located within the five boroughs of New York City Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue Employ 1-4 employees in total across all locations Have been in operation for at least 6 months Have no outstanding tax liens or legal judgements NYC Small Business Continuity Fund Businesses with fewer than 100 employees who have seen sales decreases of 25% or more will be eligible for zero interest loans of up to $75,000 to help mitigate losses in profit.  Eligibility Criteria for the NYC Small Business Continuity Fund Businesses must:  Be located within the five boroughs of New York City Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue Employ 99 employees or fewer in total across all locations Demonstrate ability to repay the loan Have no outstanding tax liens or legal judgements Complete our interest form to be notified when the applications open. As part of the applications, you will be required to demonstrate a revenue decrease by providing documentation such as: point-of-sales reports, bank statements, quarterly sales tax filings, 2019 tax returns, or CPA-certified profit & loss statements. You can begin to gather these documents in preparation.
Financial Assistance for Businesses Impacted by COVID-19

Financial Assistance for Businesses Impacted by COVID-19

Mayor Bill de Blasio announced on March 8 that the City will provide relief for small businesses across the City seeing a reduction in revenue because of COVID-19.

NYC Employee Retention Grant Program

The City is offering small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees.

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Eligibility Criteria for the NYC Employee Retention Grant Program

Businesses, including non-profits, must:

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  • Be located within the five boroughs of New York City
  • Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue
  • Employ 1-4 employees in total across all locations
  • Have been in operation for at least 6 months
  • Have no outstanding tax liens or legal judgments

NYC Small Business Continuity Fund

Businesses with fewer than 100 employees who have seen sales decreases of 25% or more will be eligible for zero interest loans of up to $75,000 to help mitigate losses in profit.

Eligibility Criteria for the NYC Small Business Continuity Fund

Businesses must:

  • Be located within the five boroughs of New York City
  • Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue
  • Employ 99 employees or fewer in total across all locations
  • Demonstrate ability to repay the loan
  • Have no outstanding tax liens or legal judgements

 

As part of the applications, you will be required to demonstrate a revenue decrease by providing documentation such as: point-of-sales reports, bank statements, quarterly sales tax filings, 2019 tax returns, or CPA-certified profit & loss statements. You can begin to gather these documents in preparation.

https://www1.nyc.gov/site/sbs/businesses/covid19-business-financial-assistance.page

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