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 a PPP lender. Visit the PPP page for the latest information on program availability.
- 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. Due to technical difficulties, SBA has temporarily suspended the SVOG application portal. SBA will share advance notice of the time and date before the reopening so all applicants can be prepared and to ensure equitable access. Please note that Pursuit is not administering this program, businesses should apply with SBA directly. More information is available 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; businesses can learn how to apply on the SBA website.
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.
- The Urban Excellence Community Grant will award new community businesses with a monetary gift of up to $1,000 and 500 hours of complimentary business consulting from Caleb Brown for one year. The project will support those creative entrepreneurs seeking to build or grow small businesses in their communities. Get more information and apply 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.
- Black-Owned Small Business Impact Fund: The NAACP and BeyGOOD launched is providing $10,000 grants to Black-owned small businesses in New York City to expand economic opportunity. Learn 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
- The State of New Jersey announced $100 million in additional Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to support New Jersey residents and businesses affected by the COVID-19 pandemic. Funding will support grants for restaurants and micro-businesses, reduced-price PPE for small businesses, rent relief for tenants, and food insecurity. Learn more information here.
- 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. Interested business owners need to pre-register and have until Thursday, April 29, 2021 at 5:00 p.m. Pre-register 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.
- 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:
- Community Capital New York, in partnership with the Westchester County Planning Department, is offering the Westchester County Emergency Grant program to meet the needs of small businesses in the Westchester Urban County Consortium that were negatively impacted by COVID-19. Get more information and apply here.
- 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.
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