COVID-19 Business Assistance
The Town of Babylon and Babylon Industrial Development Agency (IDA) are committed to helping our local business owners navigate the economic difficulties presented by the spread of the COVID-19 virus. Locally-owned businesses are the backbone of Babylon’s economy, and we want to make sure every resource is available to them during this unprecedented situation.
Please check this page regularly for updates on the latest resources for business owners dealing with the outbreak of COVID-19.
Babylon is Back Loan Program
Guidance on Re-Opening Local Businesses
The Town of Babylon has put together the below resources containing the information that you need to know and guidelines you must follow to re-open your business. Please watch the informational video and see the documents below for details.
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Stony Brook College of Business "Long Island Small Business Survival Guide"
The Stony Brook College of Business has collected resources for businesses in the age of COVID-19 and is offering the advice of their faculty, students and alumni to those businesses in need of assistance. To learn more, visit their page here. Check back for updates, including informational videos and virtual Q&A sessions.
Farmingdale Small Business Development Center
The Farmingdale Small Business Development Center (SBDC) is located on the campus of Farmingdale State College and provides free, one-on-one business advising. This free technical assistance is available to anyone who wants to start a business or who already owns a business. Contact them at email@example.com.
Erica Chase, Director of SBDC, recently joined with Councilman Anthony Manetta and fellow local officials for an online forum about what resources are available to small businesses at this time. Watch the discussion in full below:
The United States Small Business Administration has outlined its response to the spread of COVID-19 here. Councilman Manetta recently hosted a Q&A with SBA representatives:
The United States Department of Treasury has a complete list of resources on its website.
Economic Injury Disaster Loans
On March 20, 2020, the State of New York received a Major Disaster Declaration FEMA-4480-DR from President Donald Trump for the COVID-19 Incident. The U.S. Small Business Administration (SBA) has established a disaster declaration for New York which makes available Economic Injury Disaster Loans (EIDLs) for small businesses in New York State. The objective of the EIDLs it to provide working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. Please find the attached information from the SBA providing program details and application information. Apply now for an EIDL (PDF).
Coronavirus Aid, Relief, and Economic Security (CARES) Act
The federal government has also passed the CARES Act. The stimulus package offers support for businesses with fewer than 500 employees.
New York State
Governor Andrew Cuomo has outlined several resources and programs to support local economies amidst the spread of COVID-19.
***New York State is looking for companies that are able to immediately supply, produce, or re-purpose their facilities in order to produce much needed medical supplies such as ventilators, N95 masks, surgical masks, nasal swabs, exam gloves, gowns, eye/face shields, goggles, bio-hazard bags, liquid soap (1L), safety box needle disposal, etc. Please visit the following link if you are interested: https://esd.ny.gov/sourcing-covid-19-products-nys***
Visit NYS Comptroller Tom DiNapoli’s economic resource page for information about the various assistance programs available at this time.
Insurance Payment Deferrals
Business owners have the ability to defer some insurance payments. Learn more via this Department of Financial Services press release.
For Companies in the Clean Energy Sector
Governments aren’t the only entities looking to help small businesses at this time.
Facebook Small Business Grants
Facebook is rolling out a new grant program to support local businesses with $100 million in cash grants and ad credits. Visit the Facebook Business website for more information on how to apply.
Important Contact Information
Still have questions? Don’t worry - we, and many others, are here for you.
Councilman Anthony Manetta, Small Business Committee Chairman
Babylon IDA CEO Tom Dolan
U.S. Small Business Administration Regional Representative Robert J. Piechota
Farmingdale Small Business Development Center
Stony Brook College of Business