To help small businesses deal with the impact of COVID-19, the City of New York has launched the NYC Small Business Continuity Loan Program. This program is available to New York City businesses with fewer than 100 employees that 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.
Who Can Apply?
To calculate the revenue impact of COVID-19, we will compare average revenue for two months in 2020 (after the COVID-19 impact) to both:
We will check to see if either calculation shows at least a 25% decrease in revenue.
Supporting Documents for Program Eligibility
To verify the loss of revenue, you will need to upload:
Financial documents can include: point-of-sales reports or screenshots, sales reports (demonstrating fees collected or earned income), bank statements, transaction level data from banks, quarterly sales tax filings, tax returns, or profit & loss statements.
To confirm your eligibility, you will also need to upload:
How to Apply
You can apply for the program by following the steps below:
Click Here to commence the application process.