This page is being updated in live time with new information and resources for businesses during the COVID-19 crisis as it becomes available; please check back for updates.
Disaster and recovery funding options
Loan and grant programs are available for businesses impacted by COVID-19 in New York, New Jersey and Pennsylvania. Here are the programs and COVID small business loans that are currently available:
SBA relief programs
- SBA Economic Injury Disaster Loan Program (EIDL): The deadline to apply for EIDL has been extended to December 31, 2021, pending the availability of funds. Loans are offered at affordable terms, including a 3.75% interest rate for small businesses and 2.75% for non-profit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. EIDL is administered directly by the SBA and questions should be directed to 1-800-659-2955. Learn more and apply for an Economic Injury Disaster Loan.
Other national disaster and recovery funding programs
- Alibaba.com Grants Program: In partnership with Hello Alice, Alibaba.com is awarding $500,000 to help U.S. online entrepreneurs bring their innovative product and/or go-to-market ideas to life through the Alibaba.com Grants Program. Fifty recipients will each receive $10,000 to support their business. Learn more and apply here.
- Amazon’s Black Business Accelerator is dedicated to helping build sustainable equity and growth for Black entrepreneurs by enabling their success as sellers. Grow your business with access to financial support, strategic business guidance and mentorship, and marketing and promotional support. Learn more and sign up here.
- Comcast RISE is committed to providing marketing, creative, media, and technology services to small businesses owned by people of color. The deadline for your small business application is October 16, 2021. Learn more and apply here.
COVID-19 Relief on IFundWomen: Supporting women entrepreneurs has always been IFW’s #1 priority. From grants to free coaching to daily encouragement, they are working overtime to help women-led small businesses weather the storm. Learn more about their funding and support options here.
Hello Alice is a COVID-19 Resource Center that assists 360,000 business owners in navigating the new normal with access to funding, e-learning guides, and mentorship. They offer opportunities like this to a very diverse crowd such as women, people of color, Military-Connected owners, the LGBTQ+ community, entrepreneurs with disabilities, and many more. Find more information here.
IRS Employee Retention Credit: The Treasury Department and the IRS announced the new Employee Retention Credit to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. More information is available here.
KKR Small Business Builders (SBB) aims to support entrepreneurs and their small businesses around the world. These grants are designed to help business owners sustain their enterprises, maintain or create jobs, and spur economic opportunity as they respond to the ongoing COVID-19 crisis and recover from its resultant economic dislocation. Learn more and apply here.
Live Music Society is committed to giving grants, ranging from $10,000 to $50,000, to live music venues in the USA. The application deadline is October 20, 2021. Learn about the eligibility criteria and apply here.
The Amber Grant Foundation, founded by WomensNet, is giving away at least $10,000 every month to honor the memory of a very special young woman, Amber Wigdah. Rolling applications are due at the end of every month. Learn more and apply here.
The Barstool Fund: Barstool Sports has created the Barstool Fund in support of the 30 Day Fund to help small businesses survive. Get more information and apply here.
The Rural Energy for America Program provides guaranteed loan financing and grant funding to agricultural producers and rural small businesses for renewable energy systems or to make energy efficiency improvements. Agricultural producers may also apply for new energy efficient equipment and new system loans for agricultural production and processing. Get more information and apply here.
- The Small Business Relief Fund: Powered by GoFundMe in partnership with Yelp, Intuit QuickBooks, GoDaddy and Bill.com, this fund offers up to $500 in grants for businesses that raise $500 in funding through the GoFundMe platform. More information is available here.
NYC disaster funding programs
- Bring Back Brooklyn Fund Loan and Grant Program: Brooklyn Alliance Capital, Inc. provides financing to under-served minority and immigrant entrepreneurs and low-income small business owners to increase financial stability and foster economic growth that will create jobs in Brooklyn. Get more information and apply here.
- Coronavirus Financial Impact Loan Program: Provides interest-free loans of $2,000-$5,000 to residents who are facing financial challenges caused by the Coronavirus outbreak. View more information and apply here.
Other Local & Regional Funding Programs
- Consolidated Funding Application: As part of New York’s transformative plan to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) has been created that will streamline and expedite the grant application process. Learn more about ongoing CFA projects and how to apply here.
- New York State COVID-19 Pandemic Small Business Recovery Grant Program was created to provide flexible grant assistance to currently viable small businesses, micro-businesses and for-profit independent arts and cultural organizations in the State of New York who have experienced economic hardship due to the COVID-19 pandemic. Learn more about the program and apply here.
- Pursuit is proud to be participating as a lender in the New York Forward Loan Fund. If you are interested in learning about eligibility requirements or applying for a loan, please go to NYLoanFund.com for full program details and the online application.
- Restaurant Resiliency Program: This $25 million grant program, managed by the NYS Department of Agriculture and Markets, provides funding to restaurants that choose to provide meals and food to people within distressed or under-represented communities. More information is available here.
- Restaurant Return-to-Work Tax Credit Program: This $35 million program provides an incentive to COVID-impacted restaurants to bring restaurant staff back-to-work, and to increase hiring at NYS restaurants. Qualifying businesses are eligible for a tax credit of $5,000 per new worker hired, up-to $50,000 per business. Program details are available here.
- Erie County:
- North Country: Loans of up to $25,000 at 5% interest are available to businesses in the following counties: Jefferson, Lewis, St. Lawrence, Clinton, Essex, Franklin and Hamilton. View the program fact sheet and application information
- Reopen Buffalo (City of Buffalo): This resource, created by the City of Buffalo, acts as a directory for small businesses that are open or reopening in Buffalo. This resource also allows businesses to see COVID-19 updates from the city and acts as a communication tool between them and City Hall. More information is available here.
- The Erie County Industrial Agency’s RDC is offering disaster relief business loans to qualified Erie County businesses affected by the COVID-19 shutdown. Loan amounts range from $10,000 to $50,000 at an interest rate of 2.5%. More information is available here. To apply, call 716-856-6252, ext. 219.
- WEDI’s Microloans program is tailored to meet the needs of entrepreneurs seeking small amounts of capital ($500-$20,000) who lack access to traditional financial institutions. WEDI provides extensive pre-loan assistance and financial education/coaching to entrepreneurs and partners with other regional CDFIs such as Pursuit to offer larger participation or expansion loans to clients who require greater amounts of capital. More information about the loan program and application process is available here.
- Monroe County’s Fast Forward Monroe Grant Program is targeting those who have been negatively impacted by the COVID-19 crisis. The effort consists of a grant program designed to provide direct financial aid and customer outreach support to local small businesses, with a focus on those in greatest need. The grant values are $10,000, $15,000, and $20,000. Learn more and apply here.
- Business Emergency Retention Grant: Through this program, businesses can apply for grants up to $2,000 for working capital to continue operations and pay employees. More information is available here.
- City of Rochester and REDCO Request for 90-Day Loan Deferral: Business owners that have current loans with the City of Rochester and/or REDCO may request a deferral through the above links.
- KIVA Rochester Small Business Aid: The KIVA Rochester crowdfunding platform is offering interest-free loans up to $15,000. Learn more here.
- Westchester and Long Island:
- The Coronavirus Financial Impact Loan Program provides interest-free loans of $2,000-$5,000 to residents who are facing financial challenges caused by the Coronavirus outbreak. View more information here.
- Wyoming County: The Re-Start Wyoming Loan Program provides assistance to small businesses that have been impacted by the COVID-19 health crisis and to help “re-start” their businesses as governmental orders restricting business operations are eased or lifted. Get more information and apply here.
How to request a deferral for your Pursuit loan
We are working with existing Pursuit clients on a case-by-case basis to potentially modify and/or defer payments on loans to provide immediate cash flow savings. If you are a current Pursuit client requesting a deferral, please submit an online request here. If you have loans with other lenders, we encourage you to contact them directly about payment assistance.
Frequently Asked Questions
View our list of Frequently Asked Questions about COVID-19 Resources. There you can find answers to common COVID small business loan questions.
Other COVID-19 resources
- [On demand webinar] Business Health During a Pandemic, hosted by Pursuit
- [On demand webinar] Business Recovery: Digital Marketing Strategies to Try Now, hosted by Pursuit
- [On demand webinar] What to Consider as You Re-Open Your Business, hosted by Pursuit
- [On demand webinar] How the New PPP Forgiveness Rules Impacts Your Loan, hosted by Pursuit
Regional and Local Resources
New York – Statewide
- NYS businesses can receive assistance completing applications for the SBA Economic Injury Loan Program through their local Small Business Development Center. You can schedule an appointment on the SBDC website.
New York - Greater Binghamton