Do you need help applying for emergency loans - like the Paycheck Protection Program - from the U.S. Small Business Administration? Click here to get help!
The NYC Employee Retention Grant Program is no longer accepting applications.
SBA loans will be available on a first-come-first-served basis, so it is important to submit your application as soon as possible. You should reach out to the SBA for guidance on how any other financial awards could impact your SBA award. If you have questions related to the SBA programs, click here to find a local SBA resource partner
Economic Injury Disaster Loans and Loan Advance (EIDL) – apply now
- A low-interest, fixed rate loan up to $2 million
- Can be used to pay immediate expenses during an emergency (payroll, bills/accounts payable, fixed debts)
- Advance of up to $10,000 awarded within three days of application, which can be used keep employees on payroll, to pay for sick leave, meet increased production costs, or pay business obligations
Paycheck Protection Program (PPP) – contact your bank to apply
- A low-interest, no fee, loan up to $10 million for small businesses, self-employed individuals and others to help with cash flow and retain employees; if employers maintain payroll, a portion of the loan will be forgiven
- To apply, reach out to your existing bank and ask if they are a participating lender; if so, your bank can walk you through the application
- If your bank does not offer the program, reach out to a traditional SBA bank or contact your local SBA resource partners for more information
- You can review the sample application here and begin gathering the information your bank will require
- Please note: If you use the proceeds from the NYC Small Business Continuity Loan Fund for payroll costs, it may compromise your ability to receive loan forgiveness from the SBA; please check with your local bank or SBA resource partner for guidance