CARES Act - Coronavirus Aid Relief

sba cares act

Many small businesses have been hurt by mandatory closures required to slow the spread of the Coronavirus (COVID-19). Fortunately, there are a growing number of resources and relief programs to fall back on, including:

-CARES Act (Coronavirus Aid Relief and Economic Security Act)
-Eviction Protection
-Business Loan Deferment
-Net Operating Loss Provisions
-Employee Retention Credits
-Loan Forgiveness

Carmeli Partners is here to help you successfully navigate the unprecedented economic challenges you face, and get your business back to business as quickly as possible. We provide assistance with finding the right program(s) for your unique set of circumstances, filing necessary forms and documentation, and providing sound financial advice at a time when you need it most.

We are providing this much needed service to all of our valued clients, in addition to new clients willing to establish a long-term business relationship with our firm.

Now is the time to take action. If you are an existing client, or willing to establish a long-term relationship with our firm, contact us today at 917-727-5150 or fill out our simple form to get started right away.


NYC Small Business Assistance Programs

NYC Programs

Applications for the Employee Retention Grant have now closed. The Small Business Continuity Fund has paused on accepting applications.

New York’s Shared Work Program lets companies keep trained staff and avoid layoffs. Employees can receive partial Unemployment Insurance benefits while working reduced hours. Full-time, part-time and seasonal employees are eligible. Companies can apply online through the NY Department of Labor.

Other Programs

The New York Community Trust's NYC COVID-19 Response and Impact Fund is offering loans and grants to NYC-based nonprofits struggling to meet the new and urgent needs hitting the city. Priority will be given to nonprofits addressing essential healthcare and food insecurity; arts organizations are also eligible.

The US Chamber of Commerce is offering grants of up to $5K to small businesses affected by COVID-19.

NY Presbyterian's Northern Manhattan Recovery Fund grants are now live, for businesses in Washington Heights, Inwood, and West Harlem.

The Hispanic Federation is offering grants of $10,000-25,000 to member agencies and Hispanic non-profits.

Renaissance is offering emergency loans covering Manhattan Chinatown, Koreatown, Jackson Heights, Flushing, Sunset Park, and other neighborhoods.

Hello Alice is offering $10K grants to small businesses “severely impacted by COVID-19”.

Red Backpack Fund (Spanx) will provide 1000, $5000 grants, at least 200 each month, May-September. Applicants should be majority women-owned businesses and nonprofits with less than $5m revenues and fewer than 50 employees (but at least one additional non-paid employee on staff).

Shea Moisture is offering three separate programs totalling $1M to businesses supporting communities through COVID-19 and Black-owned businesses facing COVID-related hardship, as well as an E-Lab (with a potential funding opportunity) for women of color entrepreneurs.

The Zakat Fund is offering support to 501(c)(3) organizations working to support residents of the NYC metropolitan area.

Facebook has announced plans to provide cash funding and advertising credits to up to 30,000 small businesses worldwide. Details and application are not yet available.

Google has announced plans to provide up to $340M in advertising credits through the end of 2020 to small businesses worldwide who are existing advertisers on the platform, as “part of a larger commitment to support SMBs”. Details not yet available.

Crowdfunding

Kiva has expanded eligibility, increased the maximum loan size from $10,000 to $15,000 and introduced a six-month grace period on its zero-interest crowdfunded loans.

Mainvest has introduced the "Main Street Initiative". Existing bricks-and-mortar businesses negatively impacted by the virus that launch a funding campaign for a Mainvest revenue-based loan may be eligible for an immediate, $2000 zero-interest loan.