The state of NY offers a lot of financial support for single moms in need during the Covid-19 crisis. It also comes in many forms, including information, benefits, assistance, and even job opportunities.
To know about these benefits, keep reading to find out more:
- 1 NY Financial Support for Single Moms During COVID-19
NY Financial Support for Single Moms During COVID-19
New York Forward Loan Fund
Established in the state of New York, the Forward Loan Fund focuses 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 cannot receive federal assistance from the government during this unprecedented time. To find out more about this fund, visit their website at this link.
NYK Emergency Supply Sourcing
Single mothers who are providing or are working in health care services face a shortage of gloves, masks, and protective medical gowns to protect themselves during the pandemic while taking care of the most vulnerable individuals like seniors.
New York City is working to ensure single moms can get adequate equipment for self-protection by sourcing companies to manufacture the required tools. New York State also seeks support from individual providers of such equipment to sell them any products they are not using currently.
Are you a company with extra supplies lying around? Do you want to offer your services to help fellow single moms provide healthcare services? Well, visit their website to assist. For more information on NYK emergency sourcing, please visit this page.
Alice Covid-19 Business Center
Another resource single mothers in New York can use is Alice.
Alice Covid-19 Business Center is a free digital platform that brings together single mom entrepreneurs to support the small businesses during the pandemic. Through this platform, single mothers can get access to funding and important updates regarding the Covid-19 pandemic and some ideas and benefits on entrepreneurship.
Resources are provided every day. Apart from that, Alice has a business grant fund worth $200,000 for single mom business owners. To know more about this grant and how you can apply, you can visit their webpage for more information.
NYK Department of Small Business Services
The NYK Department of Small Business Services provides Virtual Business Services that includes webinars that educate single mom business owners about business planning, marketing, cash flow, and many others.
Find out more at this link.
The department also provides Free Business Courses for single mom entrepreneurs in need of business guidance on marketing, planning, sales, financing, and even business growth. You can read more about free business courses on their website.
These services are meant to help single mothers stay updated and afloat 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 cover rent, utility (water, electricity, and even internet), and payroll for businesses. You can learn more about the program on their website.
- Express Bridge Loans. The bridge program offers up to $ 25,000 to single mothers with small businesses and working with the SBA Express Lender. Please find out more on their website.
- 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 on this page.
The New York Women’s Foundation
The Foundation launched the Covid-19 Response Fund to help meet the immediate needs of single moms. The fund offers up to a $25,000 six-month grant to organizations seeking to meet the program’s mission.
The New York Community Trust
In partnership with the Ford Foundation, Carnegie Corporation, and many other institutions, the NYCT has established the Covid-19 Response & Impact Fund. It offers assistance to single mothers’ most pressing needs through non-profits in the form of loans and grants during the pandemic. You can learn more about NYCT on their webpage.