New York’s small businesses can apply for help from state’s new loan program: Cuomo

Photo via Flickr/Governor Cuomo

New York’s small businesses will receive some help from the state as the economy continues to be wrecked by the pandemic.

During Governor Andrew Cuomo’s daily coronavirus briefing, he stated that small businesses are suffering the most due to the coronavirus shutdown. With small businesses accounting for 90% of New York State’s businesses, the state is partnering with private banks and putting over $100 million towards a loan program for small businesses to help them amid the pandemic, called the New York Forward Loan Program.

“[Small businesses] are 90% of New York’s businesses and they’re facing the toughest challenges,” said Cuomo. “More than 100,000 have shut down permanently. Many small businesses just don’t have the staying power to continue to pay the fixed costs, the rent, the lease, etc. when they have no income whatsoever.”

The state will be focusing on minority and women-owned businesses that did not receive federal assistance as well as very small businesses with 20 or fewer employees and less than 3 million gross revenue. Pre-application of the New York Forward Loan Program will begin on May 26.

For more information, visit esd.ny.gov/nyforwardloans.

As of May 21, hospitalizations and intubations continue to decline on May 21, however the day saw 109 total COVID-19-related deaths. Cuomo announced that the state is launching a new pilot program with 52 independent pharmacies to conduct an additional 7,000 tests per day, bringing New York’s total number of testing sites to 750.

“Our message is very simple: Get a test,” said Cuomo. “If you have any symptoms of COVID, which are basically the same symptoms as the flu, get a test. If you were exposed to a person who you found out was positive, get a test.”

To find a testing site near you, visit coronavirus.health.ny.gov.