Financial Support for Single Moms In New York during COVID-19
There are resources available in New York for single moms in need during the Covid-19 pandemic in form of information, benefits, assistance, and opportunities. Do you want to find out more? Keep reading….
Covid-19 Resources for Single Mom Small Business Owners
New York Forward Loan Fund
Established by New York State, Forward Loan Fund focus on assisting single mothers’ owned businesses by providing flexible and affordable loans to help them overcome the economic crisis caused by the Covid-19 pandemic. Such loans are provided to those single moms who could not receive federal assistance from the government during this unprecedented time. find out more at https://esd.ny.gov/economic-recovery-covid-19-loans-small-businesses.
NYK Emergency Supply Sourcing
Single mothers who are providing health care services are facing a shortage of gloves, masks, and gowns to protect themselves during the pandemic while taking care of the most vulnerable individuals like seniors. New York City work to ensure single moms can get adequate equipment for self-protection by sourcing companies to assist in manufacturing the required tools. New York State is also seeking support from individuals’ providers of such equipment to sell them any products they are not using currently. Do you want to offer your services to help fellow single moms providing health care services? Well, visit email@example.com to assist. For more information on NYK emergency sourcing, please visit https://edc.nyc/covid-19-emergency-supply-sourcing-manufacturing.
Alice Covid-19 Business Center
Alice Covid-19 Business Center is a free digital platform that brings together single mom entrepreneurs with an aim of supporting the small business during the pandemic. Through this platform single mothers can get access to funding as well as important updates regarding the pandemic and entrepreneurship. Such resources are provided every day. Apart from that, Alice has a business grant fund worth $200,000 for single mom business owners. Visit https://www.covid19businesscenter.com/ for more information.
NYK Department of Small Busines Services
The NYK Department of Small Business Services provides Virtual Business Services which include webinars that educate single mom business owners about business planning, marketing, cash flow, among others. Find out more at https://nycsmallbizcourses.eventbrite.com/. The department also provides Free Business Courses for single mom entrepreneurs in need of business guidance on marketing, planning, sales, financing, and business growth. Read more about free business courses at https://www1.nyc.gov/nycbusiness/article/business-courses. These services are meant to assist single mothers to stay updated with business information during the pandemic.
U.S. Small Business Administration
There are relief programs available for single mom small businesses through the CARE Act. The CARE Act offers forgivable grants and loans to single mothers in need. The programs include:
- Paycheck Protection Program. This program assists single mom entrepreneurs by providing up to $10 million in forgivable loans to help cover rent, utility, and payroll for businesses. Learn more about the program at https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp.
- Express Bridge Loans. The bridge program offers up to $ 25,000 to single mothers with small businesses and who are working with the SBA Express Lender. Find out more at https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans.
- SBA Debt Relief. This program also assists single mom small businesses experiencing economic challenges due to the Covid-19 pandemic. Find out more about the program at https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief.
The New York Women’s Foundation
The Foundation launched the Covid-19 Response Fund to help in meeting single moms’ immediate needs. The fund offers up to $25,000 six-month grant to organizations seeking to meet the mission of the program. Do you want to apply for funding in this program? Email, firstname.lastname@example.org. Find out more about the New York Women’s Foundation at https://www.nywf.org/news/2020-resilience-nyc-covid-19-response-recovery-fund/.
The New York Community Trust
In partnership with the Ford Foundation, Carnegie Corporation, and other institutions, the NYCT has established the Covid-19 Response & Impact Fund to offers assistance to single mothers’ most pressing needs through non-profits in form of loans and grants during the pandemic. Learn more about NYCT at https://www.nycommunitytrust.org/covid19/.