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NYC Employee Retention Grant Program Applications End Friday

From SBS NYC Website:

Mayor Bill de Blasio announced on March 8 that the City will provide relief for small businesses across the City seeing a reduction in revenue because of COVID-19.

The City moved swiftly to provide services to businesses that have up to four employees. The NYC Employee Retention Grant Program will officially stop accepting applications on Friday, April 3, 2020, at 5 p.m. Businesses seeking assistance can access the NYC Small Business Continuity Loan Fund and apply to programs from the U.S. Small Business Administration (SBA) listed below.

NYC Employee Retention Grant Program

The City is offering small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees.

Eligibility Criteria for the NYC Employee Retention Grant Program

Businesses, including non-profits, must:

  • Be located within the five boroughs of New York City

  • Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue

  • Employ 1-4 employees in total across all locations

  • Have been in operation for at least 6 months

  • Have no outstanding tax liens or legal judgments

Apply before you miss out.

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