If you would like to share a business update, a change in business hours, event cancellations or postponement, or any update on your business, please email us details to firstname.lastname@example.org with the subject line - QUEENS BUSINESS CORONAVIRUS UPDATES.
Please read our latest QUEENS CHAMBER OF COMMERCE PRESS RELEASE.
Small businesses and certain nonprofits eligible for forgivable bridge loans for payroll and other expenses under CARES Act. Click here for more information provided with the compliments of Bakertilly.
Facebook Small Business Grant Program - For more information click here.
Global Giving Grant - $5,000 Grant for Women-Owned Businesses – Sara Blakely, the CEO and founder of Spanx, is giving $5 million to support women-owned small businesses impacted by COVID-19. The Red Backpack Fund will be making 1,000 grants of $5,000 each to female entrepreneurs in the U.S. The application is managed by GlobalGiving, which is currently open. Click here for more information.
Google Grants - For more information click here.
NYC Financial Assistance for Businesses Impacted by COVID-19: Mayor De Blasio has announced that interest free loans up to $75,000 and grants for small businesses will be available. As part of the application, businesses will be required to show 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. Clients: please begin to gather these documents in preparation and please call or email your loan officer if you need help. Click here to learn more and click here to follow updates from NYC. You can also sign up for updates from NYC by texting COVID to 692-692.
SBA - U.S. Small Business Administration - https://www.sba.gov/page/guidance-businesses-employers-plan-respond-coronavirus-disease-2019-covid-19
SBA Community Advantage Loans: clients with SBA guaranteed Community Advantage loans may qualify for deferments or an extension of the loan term. The recent drop in interest rates will also provide some relief. Clients should call their loan officers for more details. For more information click here and click here.
The SBA Disaster Loan application website and procedure changed on 3/29. If you have submitted on the old website and got a message. You are good for the EIDL, but you need to apply for the $10,000 Advance grant separately. If you didn’t complete your submission, you only need to apply on the new website.
SBS - NYC Small Business Services - Financial Assistance for Businesses Impacted by COVID-19 -
For information on both NYC Employee Retention Grant Program and NYC Small Business Continuity Fund - click here.
SBA is frequently updating their guidance for businesses at nyc.gov/covid19biz.
- Their Employee Retention Program continues to receive tremendous interest and in just two weeks we have awarded $1.14 million in grants averaging $9,000 each to help businesses keep staff on their payroll. They anticipate being able to reward another $8.7 million in grants.
- They are also excited to announce the launch of the NYC Small Business Continuity Loan Fund, for which applications are now live. This program is available to businesses located in New York City with fewer than 100 employees who can demonstrate at least a 25% decrease in revenue as a result of COVID-19. Eligible businesses can apply for an interest-free loan up to $75,000. The full press release is below.
They have reached out to any businesses that have already submitted their contact information them. If any businesses should have questions or need support, please be sure to contact a SBS representative through our Support Page.
Verizon Small Business Recovery Fund - Thanks to a $2.5 million investment from Verizon, LISC is offering grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available.
LISC will use the Verizon funding to provide grants of up to $10,000 to businesses facing immediate financial pressure because of COVID-19—especially entrepreneurs of color, women-owned businesses and other enterprises in historically under-served communities who don’t have access to flexible, affordable capital.
What it can be used for?
- Paying rent and utilities
- Meeting payroll
- Paying outstanding debt to vendors
- Other immediate operational costs
Verizon announced the launch of Pay it Forward Live, a weekly streaming entertainment series that will include music, gaming, comedy and more in support of small businesses affected by COVID-19. Click here for more information.
The team at Coast with the help of the Austin Chamber, Boulder Chamber, Tahoe Chamber, Berkeley Chamber, and the Beverley Hills Chamber created a PPP loan forgiveness calculator to easily calculate how much of the PPP loan will be forgiven.
- https://coastapp.com/ppp-forgiveness/ - See how much of their PPP loan will be forgiven.
We created this calculator to help small businesses see how much of their PPP loan will be forgiven. The Berkeley Chamber, Beverley Hills Chamber, Austin Chamber, Boulder Chamber, and Marietta Chamber have all listed as a resource to their members.
Hoping you can list it as a resource as well.