Coronavirus (COVID-19): Contractors Guidance & Loan Resources
NYS LECET is committed to supporting our signatory contractors and affiliated contractor associations during the COVID-19 pandemic. This page was created to provide you with important, current information to help you navigate the current business climate and understand what resources are available.
Small Business Administration (SBA) COVID-19 Loans
The U.S. Small Business Administration (SBA) is offering two loan programs as a result of the coronavirus (COVID-19) to small businesses throughout New York State. See below for details of the SBA Paycheck Protection Program and SBA Economic Injury Disaster Loan Program.
SBA Paycheck Protection Program
The Paycheck Protection Program (PPP) is part of the Federal Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion federal stimulus package passed on March 27. The PPP provides loans of up to $10 million to support small businesses and other eligible entities to pay workers, interest on mortgage obligations, rent, insurance, paid sick or medical leave, utilities, and payroll related costs incurred from Feb. 15, 2020 – June 30, 2020. Lenders will be accepting applications starting April 3, 2020.
SBA Economic Injury Disaster Loan Program
The SBA’s Economic Injury Disaster Loan (EIDL) Program provides small businesses and non-profits with low-interest 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 due to COVID-19
Economic Injury Disaster Loan Emergency Advance
(EIDL Loan Advance)
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties. Funds will be made available within three days of a successful application. This loan advance will not have to be repaid.
Express Bridge Loan Pilot Program
Allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan.
Federal Families First Act Corona Response Act (FFCRA)
The Families First Act has two main components:
Paid Sick Leave and an expansion of the Family and Medical Leave Act.
Employer receives 100% reimbursement for paid leave pursuant to the act, including health insurance costs. Employers face no payroll tax liability. Self-employed individuals received an equivalent credit.
Paid Family and Medical Leave
Employees who have expended their first ten days of emergency leave due to a need to care for a child whose school is closed, or whose child care provider is unavailable for reasons related to COVID-19 and are unable to work beyond those ten days for the same reason, may in some instances receive up to an additional ten weeks of expanded paid family and medical leave at 2/3 the employee's pay. Pay is capped at $200/day and $10,000 total.
NYC Small Business Continuity Loan Fund
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.
Eligibility Criteria for the NYC Small Business Continuity Loan Fund
• Be located within the five boroughs of New York City
• Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue
• Employ 99 employees or fewer in total across all locations
• Demonstrate ability to repay the loan
• Have no outstanding tax liens or legal judgements
Pre Application resource link:
NYC Employee Retention Grant Program
To help small businesses deal with the impact of COVID-19, the City has launched the Employee Retention Grant Program to help retain employees as businesses face decreased revenue. This program is available to New York City businesses with one to four employees that can demonstrate at least a 25% decrease in revenue as a result of COVID-19. Eligible businesses will receive a grant covering up to 40% of their payroll for two months. Businesses can access up to $27,000.
New York State Governor Andrew M. Cuomo Pressroom
New York State Department of Labor
Governor Cuomo has waived the seven-day waiting period for new unemployment claims.
Eligible members can file claims here:
To that end, the DOL is implementing a new more efficient filing system based on the first letter of the applicant’s last name (alphabetical order).
A – F : Monday
G – N : Tuesday
O – Z : Wednesday
Missed your day : Thursday and Friday
Filing later in the week will not delay payments or affect the date of an individual’s claim, since all claims are effective on the Monday of the week in which they are filed.
DOL is also extending filing hours as follows:
Monday through Thursday 8 am to 7:30 pm.
Friday 8:00 am to 6:00 pm.
Saturday 7:30 am to 8:00 pm.
Limited State Debt-Collection Relief
NY Attorney General James (“AG”) and Governor Cuomo announced that from March 16, 2020 through April 15, 2020, the AG will halt the collection of medical and student debt owed to the State of New York. People who owe other types of debts to the State of New York can file an application for relief with the AG’s office.
More information is available here:
New York State Paid Family Leave
In response to the outbreak of novel coronavirus (COVID-19) in New York State, Governor Andrew M. Cuomo has guaranteed workers job protection and financial compensation in the event they, or their minor dependent child, are subject to an order of mandatory or precautionary quarantine or isolation issued by the state of New York, the Department of Health, local board of health, or any government entity duly authorized to issue such order due to COVID-19.
Most employees will get financial compensation by using a combination of benefits. These benefits are not available to employees who are able to work through remote access or other means.
As always, Paid Family Leave can also be used to care for a family member with a serious health condition.
More information is available here:
New York State Agency Guidance Information
Guidance and updates from various New York State agencies can be found here: