Skip to Content
Author: The BCW

Leave a Comment

Home/News/Small Businesses and Not-for-Profits Now Eligible for Assistance

Small Businesses and Not-for-Profits Now Eligible for Assistance

Small Businesses and Not-for-Profits Now Eligible for Assistance

 

Small businesses and not-for-profits in Westchester are now eligible to receive low-interest federal disaster loans for working capital if they have suffered substantial economic injury as a result of the Coronavirus (COVID-19). We wanted to share this important information with our members. Our small businesses and not-for-profits are the lifeblood of our community. This first wave of assistance from the federal government is essential to provide some stability to our businesses and not-for-profits struggling with cash flow. The BCW is grateful to the SBA for including us in the declaration. Access to EIDL funds will help businesses cover basic essentials, such as payroll and fixed costs, in the short term, and will bring much needed certainty and stability at a time when it’s needed most.

 

Westchester became eligible (along with Putnam and Dutchess Counties) because we are adjacent to Connecticut, which made an Emergency Declaration allowing us to apply for the funds.

 

Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.

 

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

 

The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020.

 

Because of the high volume of interest, we caution everyone to remain patient as the SBA is still working to get up to speed. With that in mind you can begin gathering information to start the process. We will share more information on this, as it becomes available.

 

— Marsha Gordon, President and CEO of the Business Council of Westchester

 

Click Here for More Info on Disaster Loans

 

More News

Governor Hochul Announces Opening of New Hudson Valley Shakespeare Campus

$15.5 Million in Combined State Investments Support Funding for the $33 Million Project   Expansive Renovation Includes First Public LEED Platinum Theater in U.S. and 98 Acres of Land Restoration     Governor Kathy Hochul today announced the opening of the Samuel H. Scripps Theater Center — the new home of Hudson Valley Shakespeare — […]

Read Article

Sleepy Hollow Collaborates with BCW’s Westchester Innovation Network (WIN) City Labs and Iona University to Reimagine Visitor Experience

Rye Brook, N.Y. (May XX, 2026) — Students from Iona University’s Hynes Institute for Entrepreneurship & Innovation recently recommended branding concepts to help the Village of Sleepy Hollow become a year-round destination as part of the Business Council of Westchester’s (BCW) Westchester Innovation Network (WIN) City Labs initiative. The May 7 presentation, held before Mayor […]

Read Article

NYPA & Canal Corporation Showcase Expanding Opportunities Across New York’s Evolving Economy

This week, the New York Power Authority (NYPA) and the New York State Canal Authority hosted the “Supplier Diversity Expo” in Westchester County. The event focused on the future of infrastructure, procurement, and economic opportunity across New York State. The standing-room-only event drew more than 1,100 attendees, including approximately 70 vendors, with nearly half of […]

Read Article

Become A Member

Join the county’s largest and most influential business organization today.

JOIN NOW!
The Business Council of Westchester is committed to helping businesses market, learn, advocate, and grow. Over 80 events and programs are offered every year, giving our members ample opportunity to connect and meet with business representatives in the Westchester community and beyond.
Back to top