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To help small businesses deal with the impact of COVID-19, the City has launched the NYC Small Business Continuity Loan Fund to companies as they face decreased revenue. Businesses with fewer than 100 employees who have seen sales decreases of 25% or more will be eligible for zero interest loans of up to $75,000 to help retain employees and ensure business continuity. The loan can be deployed for a variety of uses, including working capital, inventory, or other investments. 
 
Complete the checklist below to review your eligibility for this fund.  

If you have questions about the eligibility requirements please e-mail us at Covid19biz@sbs.nyc.gov.

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* 1. Contact Information

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* 2. How much money are you applying for?

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* 3. Is your business located in the five boroughs of New York City?

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* 4. Have you been in operation for at least 2 years?

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* 5. Can you demonstrate that COVID-19 caused at least a 25% decrease in revenue?

You will be required to demonstrate a revenue decrease by providing documentation such as: point-of-sales reports, bank statements, quarterly sales tax filings, 2019 tax returns, or CPA-certified profit & loss statements.

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* 6. Does your business employ 1-99 employees across all locations?

You will be required to submit payroll records. 

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* 7. Are there any tax liens or legal judgements against your business?

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* 8. What is your credit score?

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* 9. What was your revenue last year?

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* 10. Was your business cash flow positive as of the end of 2019?

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