The BDC understands that economic and business growth will be affected by the COVID-19 Pandemic. As we navigate the programs that are available to help with the relief efforts, we will strive to keep you informed as these programs can be difficult to understand. Below are some resources that may be able to provide your organization direction and possible financial relief as we must do all we can and stay positive in these uncertain times. Our goal is to help organizations with the details of each program and act as a facilitator, as needed. Each program carries specific guidelines and to help you understand what is available. Please use the resources below as a start to navigating your needs, both employers and employees. The BDC will continue to update this page if and when more programs become available, we recommend knowledge through research as this is not an all encompassing list of what is available at this time.
MOVING NEW YORK FORWARD
Re-opening guidance and fact sheet issued by Genesee County Health Department HERE
New York Forward Loan Fund (NYFLF)
The New York Forward Loan Fund (NYFLF) is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE. The NYFLF targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees (90% of all businesses), nonprofits and small landlords that have seen a loss of rental income. The NYFLF is specifically timed to support businesses and organizations as they proceed to reopen and have upfront expenses to comply with guidelines (e.g., inventory, marketing, refitting for new social distancing guidelines) under the New York Forward Plan. Please click HERE to learn more about the NYFLF.
RE-OPEN GENESEE COUNTY ZOOM WEBINAR
Please join us on:
Thurs, May 28th 2020, 8am-9am
Join us for a Zoom Webinar with Paul Pettit (Public Health Director for Genesee County and Orleans County) and Jay Gsell (Genesee County Manager)
Together they will provide their expertise on the steps to re-opening the local economy. They will also answer questions from local businesses and organizations regarding Phase I and Phase II of Re-Opening.
SBA – PAYCHECK PROTECTION PROGRAM:
Please click HERE for the basic information on how the program works. The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and
utilities. For more detailed information on the program, please click HERE.
SBA – ECONOMIC INJURY DISASTER LOAN AND LOAN ADVANCE:
Please Click HERE for more information on the SBA’s Economic Injury Disaster Loan advance of up to $10,000. 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.
SBA – EXPRESS BRIDGE LOAN PILOT PROGRAM:
As of March 25, small businesses can maintain operations with assistance of up to $25,000 in under a new Express Bridge Pilot Program. Download the Small Business Administration’s guide to the Express Bridge Loan Pilot Program, please click HERE.
NYS UNEMPLOYMENT INSURANCE AND THE CARES ACT:
Please click HERE for more information on the enhanced Unemployment Insurance. The federal Coronavirus Aid, Relief, and
Economic Security (CARES) Act was signed into law March 27, 2020. The Act provides enhanced Unemployment Insurance (UI) benefits and Pandemic Unemployment Assistance (PUA) for New Yorkers.
For more information on the Federal CARES Act, please click HERE.
For the CARES Act in its entirety, please click HERE.
Senator Charles Schumer’s guide to Grants and Loans (Great Resource!), Please click HERE.
U.S. DEPARTMENT OF LABOR:
The US Department of Labor has issued guidance to businesses impacted by COVID-19. To see frequently asked questions regarding the Families First Coronavirus Response Act, please click here.
New York State Department of Labor is encouraging businesses to use a Shared Work Program as an alternative to laying off employees by allowing workers to work a reduced work schedule and collect partial unemployment insurance benefits for up to 26 weeks. Instead of cutting staff, businesses are able to reduce the number of hours of all employees or just a certain group. Please click HERE for more information.
IRS TAX RELIEF PROGRAMS:
Three new tax credits are available to many businesses hit by COVID-19. Learn more: click HERE
The BDC will continue to provide competitive loans out of the Revolving Loan Fund. Please click HERE to be redirected the BDC’s loan guidelines and application page.
OTHER LOCAL ORGANIZATIONS HERE TO HELP!:
Please utilize all of the resources at your disposal to get through this difficult time. Genesee County Chamber of Commerce is an amazing resource for Genesee County Businesses and has done a wonderful job of creating a resources page for COVID-19. Please click HERE to visit their resources page as it is highly recommended.
Genesee County Economic Development Center has done a great job in creating a COVID-19 resources page to help. Please click HERE to access the GCEDC’s resources page.
Please be sure to follow our local, state and federal agencies as they offer guidance during the COVID-19 health crisis.
Genesee County Public Health Department – Click HERE
New York State Department of Health – Click HERE
Centers for Disease Control and Prevention – Click HERE
Guidance on Executive Order 202.6 (Essential Business) – Click HERE