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 funding options
Loan and grant programs have started to become available for businesses impacted by COVID-19 in New York, New Jersey and Pennsylvania. More information on these programs is becoming available on a daily basis; please check back frequently for information. Here are the programs that are currently available or in progress:
National disaster funding programs
- SBA Economic Injury Disaster Loan Program (EIDL) – Businesses in New Jersey, New York, and PA can access loans of up to $2 million at 3.75%. The SBA is now directly accepting applications.
Please note that communications from the SBA on this program will always come from a .gov email address. The online application for this program is only available here: disasterloan.sba.gov/ela/
- The CARES (Coronavirus Aid, Relief and Economic Security) Act provides loans, grants and debt relief to businesses.
- Verizon-LISC Small Business Recovery Grant Program: Grants up to $10,000 are available to small businesses facing immediate financial pressure due to COVID-19. Applications are open until April 4th and more information is available here.T
NYC disaster funding programs
- NYC Small Business Continuity Loan Program (offered by NYC Department of Small Business Services): Loans of up to $75,000 at 0% interest are available to businesses with fewer than 100 employees that have seen decreases of more than 25% in sales. You can apply here.
- NYC Employee Retention Grant: Grants are available for businesses with fewer than 5 employees to cover 40% of payroll costs for two months. Applications are now open.
Other Local & Regional Funding Programs
- New Jersey (statewide): The New Jersey Economic Development Authority’s (NJEDA) announced two programs to support businesses that have been impacted by COVID-19. These include:
- The Small Business Emergency Assistance Grant program, which will provide up to $5,000 to New Jersey-based businesses with 1 – 10 full-time equivalent employees.
- The Small Business Emergency Assistance Loan program, which will provide working capital loans up to $100,000 to businesses with less than $5 million in revenue.
Details on both programs are available here and applications open on Friday, April 3 at 9 AM. Apply here.
For additional information for NJ-based businesses, visit the State of New Jersey’s Information Hub.
- 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].
- Monroe County: A small-business emergency loan program is available through Monroe County to provide businesses with up to $10,000 in no-interest funding in seven days. Businesses in a broad range of industries with fewer than 50 employees can qualify. Program instructions and applications are available on the Monroe County website and applications can be submitted to [email protected].
- 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.
- Syracuse: Zero-interest, 180-day emergency loans of up to $25,000 are available to businesses in Syracuse. View additional information and application instructions here.
- Pennsylvania (statewide): The Pennsylvania Industrial Development Authority (PIDA) is offering the Working Capital Access Program, which will provide working capital loans up to $100,000 directly to small businesses. Additional information, including how to apply, is available here.
- Philadelphia, PA: The City of Philadelphia and the PIDC have stopped accepting applications for the COVID-19 Small Business Relief Fund as of 5 p.m. on March 30. Applications will still be accepted for the microloan enterprise grant program, and more information is available here.
Pursuit loan programs
Pursuit will offer the Paycheck Protection Program. Sign up to be alerted when the program launches.
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
Other COVID-19 resources
- [On demand webinar] Business Health During a Pandemic, hosted by Pursuit
- [Upcoming live webinar] Social Distancing: Tips for Building Digital Relationships with Your Customers 3/25 @ 2 PM & 3/27 @ 11 AM. Hosted by SCORE.
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