We’re currently facing unprecedented times. The novel coronavirus outbreak is a public health crisis that’s affected communities worldwide and forced us to adjust to a new way of life for the time being. To combat this pandemic, New Yorkers are being asked to stay home in order to flatten the curve, which has taken a toll on small businesses across the state. These necessary safety precautions implemented to stop the spread have unfortunately left many small-business owners and employees without reliable income to make ends meet, but help is available.

From assistance for paying employees to debt relief, there are many programs that offer small businesses support during this difficult time. The federal government recently passed the $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides critical funding for small business support programs, including through the U.S. Small Business Administration (SBA).^[1] The SBA is offering two loan programs – the Payment Protection Program (PPP) and the Economic Injury Disaster Loan Program. The PPP offers low interest loans of up to $10 million to allow small businesses to pay workers, interest on mortgage obligations, rent, insurance, paid sick or medical leave, utilities and payroll-related costs incurred from Feb. 15 through June 30. Applications will be accepted beginning April 3.^[2] The Economic Injury Disaster Loan Program offers working capital loans of up to $2 million to small businesses for economic support to help overcome temporary loss of revenue. Additionally, in response to the current pandemic, the program is allowing eligible small businesses to apply for an Economic Injury Disaster Loan advance of up to $10,000. Funds are made available within three days of a successful application.^[3]

To offer additional debt relief, the CARES Act allows the SBA to pay the principal and interest of SBA loans obtained before Sept. 27, 2020, and of current SBA loans for six months.^[4] For information on any SBA program, visit www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources. In addition, the CARES Act expands unemployment benefits, including extending unemployment insurance to those who are unable to work as a result of the coronavirus outbreak, as well as to sole proprietors and freelance workers. The federal package also provides crucial tax cuts for businesses, such as interest deduction and delays to payroll taxes on wages.^[5]

Locally, Onondaga County is doing what it can to support area businesses by offering a temporary bridge loan of $25,000 or less with a zero percent interest rate through the Onondaga County Office of Economic Development. Businesses must be located within the county and use funds for the purposes stated in their application.^[6] For more information, go to www.ongoved.com/covid-19.

As a former small-business owner myself, I understand the uncertainty and anxiety many New Yorkers have been feeling ever since the governor issued executive orders to reduce the in-office workforce for non-essential businesses. To help those who’ve found themselves out of work as a result of Covid-19, I recently helped pass a law that waives the seven-day waiting period for unemployment insurance (UI) benefits.

The executive order excluded essential businesses, such as health care operations, grocery stories, mechanics and banks. The state Department of Health has ordered these businesses to ensure they maintain a clean and safe environment for both their employees and patients or customers.^[7] For the latest guidelines and to determine which businesses have been deemed essential, visit esd.ny.gov/guidance-executive-order-2026.

I urge all New Yorkers to be patient and remember that the steps state and federal leaders and health officials have taken to stop the spread of COVID-19 is for the health and safety of everyone – these strict precautions will help save lives. In the meantime, if anyone has any questions or concerns about this or any community issue, please don’t hesitate to reach out to me at 315-452-1115 or StirpeA@nyassembly.gov.

^[1] www.centerstateceo.com/business-resources/covid-19-business-resources

^[2] esd.ny.gov/small-business-administration-sba-covid-19-loans

^[3] sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources#section-header-2

^[4] sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources#section-header-4

^[5] centerstateceo.com/business-resources/covid-19-business-resources

^[6] ongoved.com/assets/Uploads/files/COVID-19-Bridge-Loan-Program-Application-Revised-March-26-2020.pdf

^[7] esd.ny.gov/guidance-executive-order-2026