Nonprofits are Eligible for NYC Employee Retention Grant Program & SBA Paycheck Protection Program

To help small businesses deal with the impact of COVID-19, the City has launched the Employee Retention Grant Program to help retain employees as businesses face decreased revenue. This program is available to New York City businesses with one to four employees that can demonstrate at least a 25% decrease in revenue as a result of COVID-19. Eligible businesses will receive a grant covering up to 40% of their payroll for two months. Businesses can access up to $27,000. The deadline to apply is this Friday, April 3, 2020 at 5pm. For more information: https://www1.nyc.gov/nycbusiness/article/nyc-employee-retention-grant-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. The Paycheck Protection Program will be available through June 30, 2020. For more information: https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp

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