March 19, 2020
Meeting the Coronavirus Challenge
We know that NoMad businesses are being tested in many ways during this difficult time: 1) trying to keep employees, customers, and the community healthy; 2) making sure customers receive services they need; 3) helping employees weather the financial difficulties of reductions and closures; and 4) looking at ways of lessening the financial impact on the operation.
Helping to Increase Business
We are currently formulating a communication for all in the area about restaurants and other services that are providing takeout or delivery services. If you would like your business to be included in this mailing please go to this page in our site and let us know.
Financial Assistance
At the NoMad Alliance we are collecting information on city, state and federal programs that may help you, and we will make every effort to get these to you as soon as possible.
Inquire About Insurance Coverage
If you haven’t done so already, we suggest that you begin to contact your insurance carriers and determine how you may be covered, especially if you have business interruption insurance. Begin processing claims right away to ensure early resolution and to avoid the flood of claims that may be entered in the next few weeks.
City, State and Federal Assistance Being Planned
We are also looking at assistance from the city, state and federal governments. Steps are being discussed, but as you are aware, these are complicated budgeting and policy matters and will take time for governmental agencies to finalize. We will pass along all information we can find about relief for our tenants.
City Assistance Available Now Loans for Firms with 100 or Fewer Employees
The City has announced that it will provide relief for small businesses across the City seeing a reduction in revenue because of COVID-19. 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 mitigate losses in profit.
Grants for Firms with Less than Five Employees
The City is also offering small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months (an average of $6,000) to help retain employees. Eligible owners who would like to learn more about these programs should call 311 for assistance.*
*This is the main New York Help Hotline, but operators will route your call to the appropriate agency.
Helpful Resources
On this site we have a full list of websites and phone numbers for PUBLIC SERVICE organizations that you may find useful.