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Dear Friends,

As the coronavirus crisis continues, we want you – our clients, colleagues, partners, and friends – to know that we are here for you, and are continuing to provide services. Working together, we will weather this crisis. We are here to support you – our clients, our stakeholders, our friends, and New York City – in every way we can.

We are working remotely and in the office also, but for now we are scheduling all meetings with clients via zoom, FaceTime, or WhatsApp. To schedule a meeting, please call during regular office hours Monday to Thursday, 9AM to 5PM, and on Fridays, 8AM to 12PM. You are welcome to email the appropriate person, whenever you can. Or you can apply for a loan directly by clicking here.

Yanki Tshering, Executive Director

Below are some important updates and NYS Guidelines on Reopening in multiple languages:

Paycheck Protection Program Loans 

The Payment Protection Program (PPP) has extended the deadline to apply until August 8th and we want all qualifying NYC businesses to benefit from this program! You have the opportunity to apply directly through BCNA. To qualify for forgiveness, you have to have spent only 60% on payroll over 24 weeks.

    • Fast and Easy Process: BCNA is an authorized PPP lender working directly with the SBA. See attached BCNA Flier.
    • Open to all qualifying NYC Businesses: BCNA is processing (PPP) Loans for non-BCNA clients, too. For more information, please contact Juan González at jgonzalez@nybcna.org
    • PPP & EIDL Next Steps: If you missed our important webinar about what to do AFTER you receive your PPP or EIDL monday, you can watch it here.
    • US Chamber of Commerce Guide to Paycheck Protection Program Loans: to download click here.

BCNA Loans

    • BCNA’s Emergency Loan Fund for NYC business reopening needs. $5K to $25K at 3% payable over 24 months. 6 months of loan payment forgiveness
      Apply directly here
    • BCNA’s Regular Microloans: To help businesses cope with the unprecedented hardships, we’ve lowered interest rates to 5% & waived all fees. Apply directly here
    • BCNA’s Community Advantage Loan: For more information, click here

NYS COVID-19 Rent Relief Program – Deadline July 30th!

New York State has a new rental relief program for tenants who have lost income during the COVID19 crisis. The COVID Rent Relief Program will provide eligible households with a one-time rental subsidy that will be sent directly to the household’s landlord. Applicants will NOT need to repay this assistance. Click here for more info and check eligibility here. To Qualify:

    • Are you a renter in NY?
    • Do you have a household income (including unemployment benefits) below 80% of HUD’s Area Median Income? Check eligibility here.
    • Have you lost income between April 1st, 2020 & July 31st, 2020?
    • Did you pay more than 30% of your household income for rent before March 1st, 2020?
    • Applications available in multiple languages: English, Spanish, Chinese, Russian, Haitian-Creole, Korean, Bengali. For assistance with problems on your application, you can call the New York State HCR Call Center at (833) 499-0318. Call center support is available from 8AM to 7PM, Monday through Saturday.

NYS REOPENING GUIDELINES

Please click below for the issued guidelines for businesses reopening for phases 2 and 3. This includes, but is not limited to, hair salons and barbershops, essential and some in-store retail, and personal care (including nail salons).

Other Resources

    • SBA Disaster Loan Assistance: for Federal Disaster Loans for businesses, nonprofits, homeowners, and renters click here.
    • Small Business Owner’s Guide to the CARES Act: for an excellent guide from the Senate Committee on Small Business & Entrepreneurship click here.
    • All BCNA Workshops Are Now Being Offered Online: watch for emails with details or check Facebook or our website.
    • To Follow Updates from NYC: click here or text COVID to 692-692
    • NYC Mayor’s Office to Protect Tenants: Info & Resources for NYC tenants impacted by COVID-19
    • Volunteers of Legal Services (VOLS): Frequently Asked Questions for Commercial Tenants & Immigrant-Owned Businesses in English and en Español