Small Business Guide

Disclaimer: The resources here are for information only and should not be considered as financial advice. 
Government Relief and Stimulus Programs​
Non-Profit Funding​
COVID Funding for Employees​
COVID Funding for Employers​
Reopening Business and Economy​
Health Support​
Long Island Community
Other resource Websites​

Government Relief and Stimulus Programs

  • SBA Economic Injury Disaster Loan Program (EIDL)
    • Federal Disaster Loans for Businesses, Private Nonprofits, Homeowners, and Renters. Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. New York State Small Businesses applying SBA Coronavirus Economic Injury Disaster Loan, click HERE.
  • SBA Paycheck Protection Program [Summary slides (English), Video]
    • The Paycheck Protection Program authorized by the CARES Act makes loans of up to $10 million available to certain qualified small businesses. These loans are intended to be forgivable if the borrower maintains employees and otherwise complies with the CARES Act. You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating.
  • SBA Express Bridge Loans
    • Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster Loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan. To apply SBA Express Bridge Loans, click HERE.
  • Main Street Lending Program (now led by Boston Fed) [Summary slides (English), Video]
    • Credit support to small and medium-sized businesses and their employees with loan size between $500,000 to $200 million. Not grants, and cannot be forgiven.
    • Federal Reserve takes additional actions to provide up to $2.3 trillion in loans to support the economy on April 9. This funding will assist households and employers of all sizes and bolster the ability of state and local governments to deliver critical services during the coronavirus pandemic. Included actions are (1) bolster the SBA PPP by supplying liquidity; (2) Ensure credits flow to small and mid-sized businesses with the purchase of up to $600 billion in loans; (3) increase the flow of credit to households and businesses by purchasing corporate debt, asset-backed securities loans; (4) help state and local governments manage cash flow stresses by offering up to $500 billion in lending to states and municipalities.
  • Federal Income Tax Deadline Extension and Tax Deferments
    • Individuals will be able to defer up to $1 million in tax payments to the IRS for 90 days, and corporations would be able to defer up to $10 million in tax payments.
      • Federal American Rescue Plan (3/11/2021).
  • Small Business Administration (SBA) Coronavirus (COVID-19) 
    •  SBA provides a number of loan resources for small businesses to utilize when operating their business. For more information on loans or how to connect with a lender, visit HERE
    • Stony Brook Small Business Development Center (https://www.stonybrook.edu/sbdc/)
    •  SBA Disaster Assistance through the Stony Brook SBDC in response to the Coronavirus. A Business Advisor will help you through the abundance of resources available for your particular business/industry and to avoid the most common mistake of incomplete or inaccurate Economic Injury Disaster Assistance Loan application. 
    •  Schedule online appointment with a business advisor, click HERE.
  • US Cambers of Commerce Coronavirus Small Business Guide (https://www.uschamber.com/co/small-business-coronavirus)

Non-Profit Funding

  • SBA Small Business Loans
    • Start or expand business with loans guaranteed by the Small Business Administration.
  • COVIDCAP.com
    • A searchable database of over $1 trillion in COVID-19 cash relief resources available to small business and nonprofit entrepreneurs everywhere, produced by The Center for the Advancement of Social Entrepreneurship (CASE) at Duke University’s Fuqua School of Business.
  • GrantWatch.com
    • International, Canada and USA federal, state, local, foundation, and corporation grants for nonprofits, individuals, and small businesses.
  • Facebook $100 Million Grant Program
    • Facebook is offering $100M in cash grants and ad credits to help struggling businesses cover payroll expenses, rent, advertising, and operational costs.
  • Citi Foundation
    • Citi is taking a variety of different measures to help small business clients that are experiencing hardship, including increasing access to credit. Small Business Citibank customers are being treated to waivers on monthly service fees and remote deposit capture, and waived penalties for early CD withdrawal. Bankers are available after hours and on weekends for support.
  • Pivot Your Business During COVID-19 Guide (Hello Alice with Verizon)
    • Founders looking for specific inspiration for changing their business model need look no further than this new guide from Hello Alice. From a brewery offering remote tastings to a jewelry shop getting by on gift cards, this guide is full of ideas from nimble business owners.
  • Grow with Google Small Business Fund (Google and Opportunity Finance Network)
    • Local businesses are facing unprecedented challenges as they navigate COVID-19. Opportunity Finance Network (OFN) is working with Google to launch the Grow with Google Small Business Fund. The $125 million fund will deliver responsible financing to community development financial institutions (CDFIs) to help thousands of small businesses hardest hit by the coronavirus.
  • The Red Backpack Fund (GlobalGiving and The Spanx by Sara Blakely Foundation)
    • Between May and September 2020, GlobalGiving’s Red Backpack Fund will award $5,000 emergency assistance grants to at least 1,000 majority women-owned businesses and nonprofits in the U.S. The grants are possible through a $5 million gift from The Spanx by Sara Blakely Foundation to support female entrepreneurs struggling with the effects of the COVID-19 pandemic.
  • Lending List for Small Businesses (Kabbage)
    • Looking for funding for your business during this challenging time? Kabbage put together this list of lenders for small businesses impacted by the COVID-19 crisis. Use these available resources to help you navigate your business through the pandemic.
  • For student funding:

COVID Funding for Employees

COVID Funding for Employers

Reopening Business and Economy

Health Support

Long Island Community Support

Other Resource Websites