COVID-19 Resources & Impacts for Businesses

UPDATE: NYS on PAUSE Executive Order Extended Until 4/29

Governor Cuomo extended his New York State on PAUSE Executive Order today until April 29^th. As a result, all employees of non-essential business are required to continue to work from home until that time. All schools in New York will also remain closed until April 29^th and the Governor is reminding New Yorkers to keep a six-foot distance from others when in public.

Additional guidance on the Governor’s extended Executive Order can be found HERE.

The list of businesses deemed essential and how to apply for a waiver can be found HERE:

4/3/20 Update: Paycheck Protection Program (PPP) is NOW OPEN and Accepting Applications

• About: PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
• Bonus PPP Resource: Helpful breakdown (guide/FAQ/checklist) provided by the US Chamber of Commerce to assist businesses in navigating the program.
• For more quick links on PPP, visit our blog HERE.

Summary of Additional Available Aid Packages: 

Small Business Administration

• Economic Injury Disaster Loan (EIDL) Emergency Advance
  • About: This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.

• SBA Express Bridge Loans
  • About: Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.

• SBA Debt  Relief
  • About: Provides a financial reprieve to small businesses during the COVID-19 pandemic.

Local Initiative Support Corp. (LISC)

• Verizon-LISC COVID-19 Recovery Fund
  • About: Provides grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available.

National Restaurant Association

• Restaurant Employee Relief Fund
  • About: Provides grants to restaurant industry employees who have been adversely impacted by COVID-19 whether through a decrease in wages or loss of employment.

Given the fluidity of this situation, please feel free to reach out to us with questions at connect@thepartnership.org and even more importantly, if you are willing to share best practices.