COVID-19 Resource Center

Tax Guru’s top priority is to deliver outstanding business solutions to our clients. It is our goal to continue providing essential services while ensuring our employees remain healthy and safe. We remain committed to sharing resources while providing you the most up-to-date information as state restrictions are lifted, and continue to monitor federal, state, and local government updates.

For your convenience, we still encourage Phone call appointments. Please continue to coordinate document pick-up, drop-off, and necessary appointments with your Tax Guru professional or local office. For everyone’s health and safety, our offices remain closed.

Loan and grant programs have started to become available for businesses impacted by COVID-19 in New York and New Jersey. More information on these programs is becoming available on a daily basis. Here are the programs that are currently available or in progress:

National disaster funding programs

• SBA Economic Injury Disaster Loan Program (EIDL)– Businesses in New Jersey, New York, and PA can access loans of up to $2 million at 3.75%. The SBA is now directly accepting applications.
  Please note that communications from the SBA on this program will always come from a .gov email address. The online application for this program is only available here: disasterloan.sba.gov/ela/
• The CARES (Coronavirus Aid, Relief and Economic Security) Act provides loans, grants and debt relief to businesses.  
• The Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue and can be a term loan or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.

NYC disaster funding programs

• NYC Small Business Continuity Loan Program (offered by NYC Department of Small Business Services): Loans of up to $75,000 at 0% interest are available to businesses with fewer than 100 employees that have seen decreases of more than 25% in sales. You can apply here.
• NYC Employee Retention Grant: Grants are available for businesses with fewer than 5 employees to cover 40% of payroll costs for two months. Applications are now open. 

New Jersey

• New Jersey (statewide): The New Jersey Economic Development Authority’s (NJEDA) announced two programs to support businesses that have been impacted by COVID-19. These include:
  • The Small Business Emergency Assistance Grant program, which will provide up to $5,000 to New Jersey-based businesses with 1 – 10 full-time equivalent employees.
  • The Small Business Emergency Assistance Loan program, which will provide working capital loans up to $100,000 to businesses with less than $5 million in revenue.

Details on both programs are available here and applications open on Friday, April 3. Apply here.
For additional information for NJ-based businesses, visit the State of New Jersey’s Information Hub.

For Other State Funding Programs & Resource and Relief Options, visit our Business Center