Supporting Your Small Business Needs During Covid-19

Supporting Your Small Business Needs During Covid-19

We understand the significant impact of this outbreak on your small business, and as a result we want to let you know we are offering the following. Please forward and share this with anyone you think can benefit from the information you will find here.

 

  • To the borrowers of Greater Jamaica’s Revolving Loan Fund we will be offering forbearance and fee waivers for businesses affected by Covid-19

Any and all late payment fees incurred by our borrowers during the next 60 days will be waived in recognition of the difficult business climate created by Covid-19. Upon request businesses may ask for up to a 60 days of forbearance on loan payments. This should be initiated by reaching out to an account manager, answering a phone-based questionnaire. After that, we will send a formal forbearance notice. Any unmade payments will be added to your loan to be paid at a later date.

Please contact us at bsg@gjdc.org to reach an account manager and for further information.


Zero Interest Loans and Employee Retention Grants Programs

Mayor De Blasio has announced two initiatives -- the City of New York will be providing interest-free loans and grants to small businesses impacted by the Coronavirus outbreak who may be in need of financing assistance.

 

  • Zero-Interest Loan - Businesses with fewer than 100 employees that experience a greater than 25% loss in gross revenue may be eligible for an interest-free loan of up to $75,000.
  • Employee Retention Grant - Businesses with fewer than 5 employees may be eligible for a grant of up to $6,000 to cover 40% of payroll costs for two months to help retain existing employees.

For further information on both of these initiatives, please visit https://www1.nyc.gov/site/sbs/businesses/covid19-business-financial-assistance.page

 


NYC Department of Small Business Services Webinar

Tuesday, March 24, 2020
12:00 PM - 1:00 PM
Information & Registration

 

The NYC Department of Small Business Services (SBS) is here to help businesses prepare for challenges that could impact operations and assets, as well as guide owners through the start of a business continuity plan. At this webinar, you will learn how to:

 

  • Stay in business: Identify your key business functions, employees, and documents
  • Protect your investments: Understand how to protect your assets and navigate insurance processes
  • Be ready for action: Create a business continuity plan for your business

For more information or registration, please visit the event's webpage here or contact SBS at BusinessPREP@sbs.nyc.gov.

 


  • Be aware of potential scams.
    Scammers and cyber-criminals may try to take advantage of your concerns related to COVID-19. They may offer you fake products, medical advice, create fake charities, or compel you to click a fraudulent link to gain access to your device. Please visit the Federal Trade Commission to learn more about how you can avoid a scam.

We appreciate your business and look forward to continuing to serve you.