No Update Yet on Definition of “Essential”
ESD has not issued its definition of essential manufacturers as of 7:15.
Details on COVID-19 Paid Leave Legislation, Executive Orders as of March 19
In the evening hours of Wednesday, March 18, both the federal government and the New York State government signed into law major legislation granting employees’ job-protected, paid leave from work as the country responds to the COVID-19 pandemic.
SBA Disaster Assistance
Small businesses, small agricultural cooperatives, and most private not-for-profits in all Mid-Hudson counties are now eligible to apply for SBA economic injury disaster loans (EIDL). This applies to all seven Mid-Hudson counties: Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster and Westchester.
The SBA can provide up to $2 million to help meet financial obligations and operating expenses that could have been met had the disaster not occurred. Your loan amount will be based on your actual economic injury and your company’s financial needs. The interest rate on EIDLs will not exceed 4 percent per year. The term of these loans will not exceed 30 years. The repayment term will be determined by your ability to repay the loan.
Businesses and Not-for-Profits who need additional guidance in the application process can feel free to schedule an appointment with a Business Advisor with NYS Small Business Development Center or call 800-732-SBDC (7232).