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Coronavirus (COVID-19): Small Business Guidance & Loan Resources

Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy. The following list of resources are updated weekly to assist during this unprecedented time.

Virtual Small Business Resource Session 1 On 1  with the East Hampton Chamber of Commerce:
Click Here To Book Today

Additional Resources: 



Paycheck Protection Program
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.

Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020.


Click HERE to Learn more
 

Economic Injury Disaster Loan Program

Application Form
covid19relief.sba.gov/

 

SBA Express Bridge Loans

Express Bridge Loan Pilot Program PROGRAM GUIDE 
https://www.sba.gov/sites/default/files/2020-03/Express-Bridge-Loan-Pilot-Program-Guide-FINAL-3.25.20.pdf

 

Guidance for Businesses and Employers

The President's Coronavirus Guidelines for America - 30 Days to Slow the Spread
The Centers for Disease Control and Prevention (CDC) offers the most up-to-date information on COVID-19. This interim guidance is based on what is currently known about the coronavirus disease 2019 (COVID-19). For updates from CDC, please see the following:
 

SBA Products and Resources

Resource Webpage

www.cdc.gov/coronavirus/2019-ncov/specific-groups/guidance-business-response.html
 

Government Contracting

Government contracts are a tremendous financial opportunity for small businesses.
The U.S. government is the largest customer in the world. It buys all types of products and services — in both large and small quantities — and it’s required by law to consider buying from small businesses.
The government wants to buy from small businesses for several reasons, including:
  • To ensure that large businesses don’t “muscle out” small businesses
  • To gain access to the new ideas that small businesses provide
  • To support small businesses as engines of economic development and job creation
  • To offer opportunities to disadvantaged socio-economic groups
Click HERE for more information

 

Local Assistance

The SBA works with a number of local partners to counsel, mentor, and train small businesses.
Click HERE to search for Local Assistance


 

Suffolk 311 

COVID-19 Business Impact Form
https://suffolkcountyny.force.com/public/request/DOLBUSIMP/location
 
 
COVID-19 Community Portal

In order to provide assistance to our local community, the i-hamptons team is dedicating our website to sharing important resources for the East End community. Below you will find some useful information about resources available to you, both locally and nationally. This page will be refreshed with up to date information daily.

Click HERE to enter the Community Portal
 

Applying for the Paycheck Protection Program

There’s a significant amount of money — $377 billion — allocated to support small businesses in Congress’s latest coronavirus stimulus package. But figuring out exactly how to access it can be somewhat confusing.

The funds from the CARES Act, which President Donald Trump signed into law on March 27, are divided among three small-business programs that offer forgivable grants and loans, as well as loan deferral. (These Small Business Administration programs also apply to nonprofits that meet the necessary size requirements.)

Click Here for more information



COVID-19 Paid Leave: Guidance for Employers | Paid Family Leave

As an employer, there are important things for you to know – and actions to take – related to the new COVID-19 quarantine paid leave legislation signed by Governor Andrew M. Cuomo.

Click HERE for a complete guide

 

Restaurant Employee Relief Fund 

The Restaurant Employee Relief Fund (“Fund”) was created to help restaurant industry employees experiencing extraordinary hardship in the wake of the coronavirus disease (COVID-19) outbreak. Through this Fund, grants will be made to restaurant industry employees who have been impacted by COVID-19, including a decrease in wages or loss of employment. Grants will be awarded as soon as possible to those individuals who meet the prescribed eligibility criteria, as reviewed and verified by the National Restaurant Association Educational Foundation (NRAEF). This Fund is operated by the NRAEF, whose mission is to attract, empower and advance today’s and tomorrow’s restaurant and foodservice workers. Click HERE to learn more
 

Restaurant Strong Grant Application
 
To qualify for grant assistance, you must satisfy all of the following requirements:
  • Completed Application Form
  • Full-time employees (Minimum of 30 hours total per week, can be multiple restaurants)
  • Employed for 3 months or longer at the same location
  • Worked in a restaurant, bar, cafe or nightclub located in; (Arizona, California, Connecticut, Florida, Georgia, Illinois, Maine, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont)
  • Submit the last two full-time (30 hours) pay stubs
Click HERE to Apply
 

Unemployment Application

The NYS Department of Labor announce the launch of a new application for New Yorkers to apply for traditional Unemployment Insurance or the new COVID-19 Pandemic Unemployment Assistance.

Click HERE to Apply


 

Disaster Loan Assistance

You can apply online for all types of SBA disaster assistance loans. The online application is the fastest method to receive a decision about your loan eligibility. You have the option of submitting a paper application by mail. For either application, you must submit the completed loan application and a signed and dated IRS Form 4506-T giving permission for the IRS to provide SBA your tax return information.

You may also apply in person at any Disaster Recovery Center and receive personal, one-on-one help from an SBA representative. For information or to find a location near you, please contact our Customer Service Center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.

 

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