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IMPORTANT – DEADLINE FRIDAY 04/03/2020 – NYC Employee Retention Grant Program


Wayne Naegele

IMPORTANT – DEADLINE FRIDAY 04/03/2020 – NYC Employee Retention Grant Program



April 1, 2020

Dear Clients, Colleagues and Friends,

The NYC Employee Grant Program is an immediate response to small businesses affected by the COVID-19 outbreak and was put in place to provide services for businesses with one to four employees that can demonstrate at least a 25% decrease in revenue as a result of COVID-19. Eligible businesses will receive a grant covering up to 40% of their payroll for two months. Businesses can access up to $27,000.

The NYC Employee Retention Grant Program will officially stop accepting applications on Friday, April 3, 2020, at 5 p.m. Please visit nyc.gov/covid19biz to apply and for more information about this program.

Who Can Apply?
Businesses, including non-profits, must:
· Be located within the five boroughs of New York City
· Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue
· Employ 1-4 employees in total across all locations
· Have been in operation for at least 6 months
· Have no outstanding tax liens or legal judgement
· Have not received an insurance reimbursement for the same payroll costs

If you have any questions or need further information on the NYC Employee Retention Grant Program and/or application, please contact your P&N professional directly, or dial 212-736-0055 for immediate help. Stay safe.

Presti & Naegele