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
- Paycheck Protection Program (PPP): Pursuit is no longer accepting PPP applications.
- 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. Learn more and apply for an Economic Injury Disaster Loan.
- The Shuttered Venue Operators Grant (SVOG) program includes over $16 billion in grants to shuttered venues. Please note that Pursuit is not administering this program, businesses should apply with SBA directly. Get more information and apply here.
- Restaurant Revitalization Fund (RRF): An eligible business may receive a tax-free federal grant equal to the amount of its pandemic-related revenue loss, up to $10 million. Please note that Pursuit is not administering this program. The SBA application portal is now closed. Learn more.
Other national disaster and recovery funding programs
- 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.
- 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.
- 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.
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.
Jane Walker – IFW First Women Grant Program: This program will fund 15 groundbreaking women-owned businesses through the end of the year. Businesses will be selected across Entertainment & Film, Music, Sports, Journalism, STEM and Hospitality. Each recipient will receive a $10K grant plus a one-year IFundWomen Annual Coaching Membership. Applications are being accepted on a rolling basis through June 2021. Get more information and apply here.
- Artist Relief will distribute $5,000 grants to artists facing dire financial emergencies due to COVID-19; serve as an ongoing informational resource; and work with the COVID-19 Impact Survey for Artists and Creative Workers, designed by Americans for the Arts, to better identify and address the needs of artists. Artist Relief is resuming from March 8 to June 23. More information here.
- iFundWomen Universal Grant: iFund women has a wide variety of grants available to their members, from their monthly “pay-it-forward” grant to those from generous partners. Each recipient will receive a $10K grant plus a one-year IFundWomen Annual Coaching Membership. Applications are being accepted on a rolling basis through June 2021. Find more information 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.
NYC disaster funding programs
- 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.
- Bring Back Brooklyn Fund Loan and Grant Program: Administered through Brooklyn Alliance Capital (BAC), the Bring Back Brooklyn Fund is designed to provide small businesses with grants for Personal Protective Equipment (PPE) and deep cleanings, and no-interest recovery loans up to $10,000 for businesses unable to obtain capital elsewhere. Get more information and apply here.
Other Local & Regional Funding Programs
- NJEDA Small Business Emergency Assistance Grant – Phase 4 provides grants up to $20,000 to small- and medium- sized businesses and non-profits that have been negatively impacted by the COVID-19 pandemic. Learn more about the application schedule and apply for a grant 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.
- NYS Pandemic Small Business Recovery Grant Program: This program will make more than $800 million in grants available to businesses available in NYS. Sign up to receive updates and obtain additional detail here.
- New York State Biodefense Commercialization Fund: This $40 million program will provide grants to innovative companies and startups in NYS that are focused on commercializing solutions to infectious diseases, and other public health threats. NYS will partner with public health experts from Columbia University and from Mount Sinai Health System on this initiative. Awarded companies will be supported throughout their growth with the help of connections to academic partners and with business-growth support. Program details are available here.
- Pandemic Small Business Recovery Grant Program (NYS): This $800 million COVID-19 recovery program provides funding to small businesses and for-profit independent arts and cultural organizations impacted by the pandemic. The grants will be flexible and can be used for a number of different business needs, including payroll, rent or mortgage payments, taxes, utilities, PPE or other business expenses incurred between March 1, 2020 and April 1, 2021. Learn more about the program here.
- 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.
- Binghamton: Zero-interest loans up to $15,000 are available to businesses with fewer than 50 employees through the Binghamton Local Development Corporation (BLDC). Payments are deferred for 12 months. To qualify, businesses must demonstrate a reduction in workforce, customer access, production or other operations due to coronavirus. Businesses can access the application online at BLDC’s website.
- Broome County: The Broome County Emergency Loan Fund offers loans to businesses in Broome County with no principal and interest payments for 12 months. More information is available here and questions may be directed to Tom Gray at (607) 584-9000 or [email protected].
- Erie County:
- Cooperation Buffalo’s Relief Fund: Cooperation Buffalo has reprioritized their budget to provide financial relief to Buffalo’s co-op community. They are also providing financial relief to small businesses in danger of closure. Get more information and apply for a microgrant here.
- ECIDA COVID 19 Disaster Emergency Grant: For businesses located in Erie County, NY who have been negatively financially affected by COVID-19. Get more information and apply here.
- 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.
- LISC-GM Scale Up WNY Small Business Grant will assist the growth of Black-owned businesses that are under-capitalized, but well positioned for growth. This one-time fund is designated to support procurement opportunities in several high-growth industries and/or services. Preference will be given to businesses within the Buffalo-Niagara sub region, but businesses within the 8-county footprint of Western New York are eligible to apply for this. Grants range from $5,000 to $15,000. Find more information here.
- 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.
- 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