Economic Development : Support for Local Businesses
Request Designation as an Essential Businesses
To request designation as an essential business: https://esd.ny.gov/…/request-designation-essential-business…
The Small Business Owner’s Guide to the CARES Act
The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now. When implemented, there will be many new resources available for small businesses, as well as certain nonprofits and other employers. This guide provides information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address these needs, as well as some additional tax provisions that are outside the scope of SBA.
Help for Small Business Owners: Assistance & Relief
The U.S. Treasury’s Paycheck Protection Program provides small businesses with funds to pay up to eight weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. Applications will be accepted starting April 3rd and funding is limited. Do not miss out on this opportunity!
The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury. Visit www.sba.gov or www.coronavirus.gov for more information.
Supporting Main Street: Small Business Loans
Our small businesses make our Main Streets vibrant and give our community an identity. They need our help. Westchester businesses can apply for and potentially secure up to a $10,000 loan within three days by way of a Community Capital Express Loan. Although there are qualification requirements, the interest rates are 2% with terms of 27 months. Additionally, small businesses should apply for a Small Business Administration (SBA) loan. Because it takes longer to secure a SBA Disaster Recovery Loan and the amounts are up to $2 million, it is recommended that you commence this latter process first if needed.
Small Business Survey
Did you know that 97% of all businesses in Westchester County have fewer than 100 employees? The impact of the COVID19 crisis could be long lasting and devastating for small businesses. Westchester County government wants to help. Small business owners: Please take a couple of minutes to complete this survey by Friday, April 10 so the County can better understand your needs: https://www.surveymonkey.com/r/GP22SYY
Westchester County Needs Volunteers for SBA Application Assistance Program
The Westchester County Office of Economic Development’s SBA Application Assistance Program is soliciting volunteers to help small businesses complete applications for the following programs:
- SBA Economic Injury Disaster Loan Advance,
- SBA Economic Injury Disaster Loan, and
- Paycheck Protection Program applications.
Volunteers will be provided training on all aspects of the application process. Training will be developed and conducted in coordination with the SBA and Community Capital New York, a Community Development Financial Institution and SBA-lender. The training will be provided by webinar, and the materials and step-by-step application guides will be provided to the volunteers.
The volunteers will not be providing guidance/recommendations on which loan programs to apply for, but rather will be addressing specific questions on the application(s) selected by the applicant.
Anyone interested in volunteering to help should email EconomicDevelopment@westchestergov.com
Town Board & Chappaqua-Millwood Chamber of Commerce: Finding Solutions
The Chamber and the Town Board met earlier today and discussed, among other things, creating a directory of business professionals and service providers similar to the merchant-restaurant directory. This will give residents the opportunity to contact local businesses that can provide notary, legal, and other services right here in our community.