Yesterday, Empire State Development (ESD) announced that Paycheck Protection Program (PPP) recipients are now eligible to receive low-interest loans from the New York Forward Loan Fund (NYFLF). This conditional change will provide the Fund’s network of lenders and financial institutions with greater flexibility and enable them to provide more small businesses with working capital to cover expenses associated with reopening.
When the NYFLF launched in May, the goal of the NYFLF was to help New York-based small businesses that did not receive PPP funding by providing flexible working capital to reopen and adapt to post-COVID needs. However, some NYFLF applicants who needed assistance were deemed ineligible because they had already received PPP funds. Yesterday’s change is now making additional resources available to small businesses who received $50,000 or less in PPP assistance. Small businesses who did not receive any federal assistance are still eligible and encouraged to apply as well.
Eligible small businesses and small residential landlords can apply for a 60-month, no-fee loan with a 3% fixed interest rate. Eligible non-profits can apply for a 60-month, no-fee loan at 2% fixed interest. The maximum loan amount is $100,000. Loan funds can be used for working capital including payroll, operating and emergency maintenance, property taxes, utilities and costs associated with refitting physical space to follow social distancing guidelines. More information is available online at nyloanfund.com.
As a reminder, the region has seen several clusters of COVID 19 pop up and we have once again reached the level of community spread. Local health officials are urging everyone to do their part by wearing a mask and practicing the appropriate social distancing and hygiene measures to help prevent further spread of the virus.
Steuben County is offering FREE drive through COVID-19 testing at the Victory Highway Wesleyan Church in Erwin on the following days and times:
Friday, September 25 from 12 – 6 pm
Saturday, September 26 from 10 am – 5 pm
Participants should pre-register at https://tinyurl.com/steubencovidtest. Registration for both dates is available at this link. Date specific registration can also be found at:
Each person to be tested should be registered separately.
Residents should also monitor themselves for COVID related symptoms including a fever, cough, shortness of breath, chills, muscle pain, headache, sore throat, and a new loss of taste or smell. If you or someone close to you experience any of these symptoms, you should contact your healthcare.