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COVID-19 - Financial Resources for Businesses & Nonprofits

Updated Tuesday, June 2, 6 pm

The Flatiron/23rd Street Partnership is closely following the response from the City, State, and Federal governments and has compiled financial resources for small businesses, nonprofits, and employees below.

New York Forward Loan Fund

New York Forward Loan Fund (NYFLF) is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits, and small landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE. NYFLF targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees (90% of all businesses), nonprofits, and small landlords that have seen a loss of rental income. These loans are available to small businesses, nonprofits, and small landlords that did not receive a loan from either the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) or SBA Economic Injury Disaster Loans (EIDL) for COVID-19. The loans are not forgivable in part or whole, and will need to be paid back over a 5-year term with interest.

Priority will be given to industries and regions that have re-opened. This is not a first-come, first-served loan program. Applications will be reviewed on a rolling basis as regions and industries re-open.

Business Reopening

Each re-opening business must develop a written Safety Plan outlining how its workplace will prevent the spread of COVID-19. This plan does not need to be submitted to a state agency for approval but must be retained on the premises of the business and must made available to the New York State Department of Health (DOH) or local health or safety authorities in the event of an inspection. 

If you have questions or needs, please email the team directly: Covid19@FlatironDistrict.nyc 


EMERGENCY FINANCIAL ASSISTANCE PROGRAMS - SMALL BUSINESSES & NONPROFIT 

If you have questions about PPP, we have contacts at two SBA Small Business Development Centers (SBDC) that can offer 1:1 assistance at no cost. Please reference the Flatiron 23rd Street Partnership when contacting.

Other SBA programs include SBA Debt Relief and SBA Express Bridge Loans (for small businesses that already have a relationship with an SBA lender).

The NYC Department of Finance (DOF) recognizes that taxpayers, including small businesses, may be unable to meet certain NYC filing and payment deadlines due to COVID-19. The City of New York will allow for a waiver of penalties for DOF-administered business and excise taxes due between March 16, 2020 and April 25, 2020. Additional information can be found here.

DOF also offers several programs to assist property owners who face hardships making their property tax payments including the Property Tax and Interest Deferral ProgramExemption Programs, and Standard Payment Plans.

The Office of NYC Comptroller Scott M. Stringer has compiled financial resources for small businesses here and independent contractors here. For more information, please visit the NYC Department of Small Business Services (SBS) Assistance & Guidance for Businesses​ webpage

  • Bloomberg Philanthropies & NY Community Trust: The NYC COVID-19 Response & Impact Fund was created to aid nonprofit service providers struggling with the health and economic effects of the coronavirus. Priority will be given to nonprofits addressing essential healthcare and food insecurity as well as arts and culture. The new $75 million fund will provide grants and loans to small and medium-sized nonprofits.

ADDITIONAL BUSINESS RESOURCES

  • Facebook Small Business Grants Program: Facebook is offering $100 million in cash grants and ad credits for up to 30,000 businesses in over 30 countries affected by COVID-19.

RESOURCES FOR INDIVIDUALS

  • USBG National Charity Foundation: If you are a bartender or hospitality worker, you may be eligible for a grant through the Bartender Emergency Assistance Program. 
  • Restaurant Workers Community Foundation: RWCF is continually compiling resources for restaurants and hospitality workers to cope with the COVID-19 emergency.
  • Mental Health Support for New Yorkers: While the City stays home to stop the spread of coronavirus, New Yorkers can access a wide range of mental health services by phone and online. Mental health services are free for New Yorkers regardless of insurance coverage or immigration status.


For more resources and updates pertaining to the pandemic, visit our COVID-19 Resources & Updates page.

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