Small Business Assistance
Small businesses are experiencing immediate and extreme negative consequences due to the reduction in public access, foot traffic, and the limits on public gatherings and on-site work. The emergency loan program will be available to small businesses to cover ongoing expenses, help prevent staff reductions, offset losses, and help companies sponsor sick pay for workers as necessary.
In addition to locally available financing from SEDCO, the City of Syracuse is actively tracking other resources offered to small businesses, including:
U.S. Small Business Administration (SBA) Economic Injury Disaster Loan program offering up to $2 million to individual businesses. The City is working with partners to enable eligibility access for Onondaga County businesses;
$100 million in cash grants and ad credits from Facebook for up to 30,000 businesses;
and the application for New York State debt suspension through the Office of the Attorney General.
For those who are unable to access or utilize these resources, the City of Syracuse and SEDCO are providing the Emergency Relief Program as a viable alternative.
Beginning Monday, March 23, those seeking financing can find the SEDCO application online at www.syrgov.net/sedco, and submit it electronically via email at business@syrgov.net or by mail to SEDCO; 201 East Washington Street, Syracuse, NY 13202. If absolutely necessary, individuals can submit applications in-person at the Central Permit Office, located at the same address above. This will require scheduling a time to drop off the application and materials by calling 315-448-8600.
The SEDCO program will be structured to provide loans in an efficient and timely manner given the circumstances of COVID-19. The selection process will include a review of the application by a loan committee, and applicants will be informed of a loan decision for funding within seven (7) days after the submission date.