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NYS Resources for Small Business Owners

NEW YORK FORWARD LOAN FUND (NYFLF)

The NYFLF offers working capital loans to a) NYS small businesses with 50 or fewer employees, b) nonprofits, or c) small landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE.

Other eligibility requirements must be met in order to qualify. An in-depth description of the fund can be found here:
https://www.connect2capital.com/partners/new-york-forward-loan-fund/

Answers to Frequently Answered Questions about this loan fund can be found here.

COVID-19 PANDEMIC SMALL BUSINESS RECOVERY GRANT PROGRAM

The $800 million COVID-19 Pandemic Small Business Recovery Grant Program provides grant funding to small and micro businesses and for-profit independent arts and cultural organizations impacted by the pandemic.

Grants are for New York State-based small businesses, microbusinesses, and for-profit independent arts and cultural organizations. They must be currently viable and have begun operation on or before March 1, 2019 and continue to be in operation as of the date of application.

Go to https://nysmallbusinessrecovery.com/ for information on:

RESTAURANT RESILIENCY PROGRAM

The NYFLF offers working capital loans to a) NYS small businesses with 50 or fewer employees, b) nonprofits, or c) small landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE.

The Restaurant Resiliency Program sets aside $25 million to provide grants to restaurants that offer meals and other food-related items to New Yorkers within distressed or underrepresented communities.

For additional information on this program, as well as details on how to apply, go here:
https://agriculture.ny.gov/restaurantresiliency

RESTAURANT RETURN-TO-WORK TAX CREDIT

For small, independently owned restaurants. This program is open to eligible restaurants located in New York City, or in an area outside of New York City that was designated an Orange or Red Zone for at least thirty consecutive days.

Qualifying businesses are eligible for a tax credit of $5,000 per new worker hired, up to $50,000 per business.

For information on eligibility, how to apply, and frequently asked questions, visit the program website here:
https://esd.ny.gov/restaurant-return-work-tax-credit