KINGSTON RECOVERS
Resources for City of Kingston Businesses
The Mid-Hudson Region is currently in Phase 4 of Re-Opening.
Visit the NYS Business Re-opening Lookup Wizard. Guidance on Essential vs. Non-essential businesses here.
Per Governor Cuomo order, restaurants, bars and gyms must close at 10:00pm.
NYS Loans for Small Businesses info here.
Ulster County Business Resources info here.
PAYCHECK PROTECTION PROGRAM
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
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. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.
Frequently Asked Questions for Lenders and Borrowers (04/26/2020)
How to Calculate Loan Amounts
For affiliation rules applicable for the Paycheck Protection Program, click here.
The Interim Final Rule for Applicable Affiliation Rules for the Paycheck Protection Program as posted in the Federal Register.
Frequently Asked Questions for Faith-Based Organizations Participating in the Paycheck Protection Program and Economic Injury Disaster Loan Program
CDC
The CDC has compiled a document, Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19), to help businesses prevent workplace exposues to coronavirus in non-healthcare settings. The CDC has separate guidance for healthcare settings. Topics include:
- Preparing Workplaces for a COVID-19 Outbreak
- Reduce Transmission Among Employees
- Maintain Healthy Business Operations
- Maintain a healthy work environment
- Resources for more information
- Other Federal Agencies and Partners
Find the guide HERE.
TRACKING INFORMATION
In the event that federal programs are opened to assist small businesses with losses, documentation will be important. The sooner businesses start documentation of losses, the more accurate their records will be if assistance if becomes available. We want to make sure our City of Kingston businesses are able to qualify for any assistance that becomes available. Suggested documentation for businesses to include:
- Document lost revenues and wages.
- Document mandatory closures with date/ time stamped letters.
- While it’s still fresh, write a narrative/timeline of the events/timing specific to your business.
- Take photos/have losses verified by a 3rd party insurance/ bank etc. on a loss report.
- Have copies of your bills, document overhead expenses paid
- These programs are developing without precedence. Keep details straight as things change.
This type of funding requires strong evidence of loss in order to ensure federal dollars are not wasted, protect against fraud, and prevent duplicating benefits. For example, if you apply to multiple grants you must apply for separate losses such that your entire loss is covered but not duplicated. Duplication will lead to recapture. To avoid this, only accept funds from one source or be up front if you have applied for multiple sources.
PURSUIT LENDING
Pursuit Lending has a webinar with actionable advice to help businesses meet the challenges presented by coronavirus. Topics include:
- What to expect from the impact of the coronavirus
- 5 things every business owner needs to do now
- How to measure financial injury and get support
- Resources available to small businesses
Find the webinar HERE.
NYC EMERGENCY MANAGEMENT
NYC Small Business Services has a helpful Planning Process Checklist to help businesses track staffing, tools, equipment, technology, and applications needed to run business. Find the checklist HERE.
EMPIRE STATE DEVELOPMENT
Empire State Development helps businesses understand and implement Executive Orders. Resources include:
- Guidance on Essential Business designations
- Contact information to help employees file complaints against employers ignoring Executive Orders.
Read more HERE.
UNEMPLOYMENT
Provisions have been put in place to help workers and families survive the economic hardships associated with coronavirus. Changes as of 3/24/2020 are:
- NYS is waiving the 7-day waiting period for Unemployment Insurance benefits for people who are out of work due to coronavirus closures or quarantines.
- If you are filing a new unemployment insurance claim, the day you should file is based on the first letter of your last name. If your last name starts with A - F, file your claim on Monday. For last names starting with G - N, file your claim on Tuesday. For last names starting with O - Z, file your claim on Wednesday. If you missed your filing day, file your claim on Thursday, Friday or Saturday. Filing later in the week will not delay your payments or affect the date of your claim, since all claims are effective on the Monday of the week in which they are filed.
- Telephone filing hours have been extended. They are currently Monday-Thursday 8am-7:30pm, Friday 8am-6pm, and Saturday 7:30am-8pm.
Read more HERE.
COMMUNITY CAPITAL NEW YORK
A Small Business Approved lender offering low-interest, deferred-payment, emergency loans for businesses affected by coronavirus. Read more HERE.
NYS GOVERNOR ANDREW CUOMO
Issues Executive Orders which are signed directives that require certain actions be taken. Executive Orders can be found HERE.
U.S. SMALL BUSINESS ADMINISTRATION
A federal agency fully dedicated to small business. Provides counseling, capital, and contracting expertise. maintains the Coronavirus (COVID-19): Small Business Guidance & Loan Resources which can be found HERE.
Apply online for disaster loan assistance available for businesses, private nonprofits, homeowners, and renters. Read more HERE.
CITY OF KINGSTON COMMUNITY DEVELOPMENT
Administers federal, state and local funds to carry out physical improvements to infrastructure and public facilities, rehabilitate existing housing, and support local non-profits in directly benefitting low- and moderate-income residents of the City of Kingston.
The Federal
Reserve Bank of New York launched the Coronavirus
Resource Center where individuals, businesses, and non-profits can find out
what’s available to them at the federal, state, and city level. The hub is
regularly updated to connect our communities with the necessary resources.
As you and your organizations
navigate through this challenging time, please let us know how we can be
helpful. We also encourage you to share this information with the rest of your
organization and peers.
Resource Topics
CRA
and Regulatory Guidance
Employees
& Workers
Financial
Counseling & Credit Protection
Health
& Safety
Housing
Nonprofits
& Community Organizations
Small
Business
More resources:
Federal Reserve Board of
Governors
MID-HUDSON SMALL BUSINESS DEVELOPMENT CENTER
Helps clients in Delaware, Dutchess, Greene, Orange, Schoharie, Sullivan, Ulster Counties develop business and marketing plans, discover sources of funding, and comply with licensing and regulation. Read more HERE.
OTHER RESOURCES
Facebook Small Business Grants Program:
Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where we operate. Not currently open but sign up to be alerted about new opportunities.
Price Gouging Hotline: 800-697-1220
Best Accounting Software's US State Small Business Support Page:
Informational resource for Small Business Support by State
RESOURCES FOR ARTISTS can be found here: https://www.kingston-ny.gov/artandculturalaffairs
FOR CITY OF KINGSTON RESIDENT RESOURCES, CLICK HERE.