Small Business Assistance
The City of Troy’s Planning and Economic Development Department has shifted its focus during these unprecedented times to providing reliable information and technical assistance to our businesses. Think of us as a 411 for all your Small Biz questions and needs during this pandemic.
Please check back periodically as this page will be updated with additional information as available.
Own a business in Troy? Have questions about available resources, programs, and assistance for local businesses? Contact us by phone or email.
- Small Business Helpline: (518) 308-8548
- Operating between the hours of 9:30am and 3:30pm M-F
- All calls received outside operating hours will be directed to leave a message. A member of our team will respond via phone to set-up a phone appointment.
- Email [email protected]
- A member of our team will reply as soon as possible.
Register your business with the City’s Small Business Database! Sign up to receive important information on available federal and state assistance programs from the City’s Office of Economic Development.
The City of Troy is working with the Downtown Troy BID, Rensselaer County Chamber and a diverse group government officials, industry leaders and economic development partners on a COVID 19 Task Force to better serve our business community. Please take the survey below to help us gain insight into who this pandemic is affecting, how your business is being affected and what solutions are needed most, both presently and as we look to the future.
Access to Capital
- Click here for Coronavirus Relief Options available through SBA
- “The Economic Injury Disaster Loan (EIDL) Program vs Paycheck Protection Program (PPP)” (KROST CPAs)
- Small Business Administration Economic Injury Disaster Loan (EIDLs)
- Update : SBA will begin accepting new EIDL and EIDL Advance applications on a limited basis only to provide relief to U.S. agricultural businesses. At this time, only agricultural business applications will be accepted due to limitations in funding availability and the unprecedented submission of applications already received.
- Paycheck Protection Program
- Where can I Apply?
- Contact your existing banking institution to apply.
- While funding is through a Small Business Administration (SBA) program, the loans are made through participating federally insured depository institution, credit unions and Farm Credit System institutions – your bank.
- When can I apply?
- April 3rd for small businesses and sole proprietorships
- April 10th for independent contractors and self-employed individuals
April 27th Second round of applications now being accepted.
- Where can I Apply?
- U.S. Chamber of Commerce Foundation
Small Business Fund
- New York Forward Loan Fund (NYFLF)
New loan program announced will open 5/26 at noon. The fund will provide businesses across the State with low interest rate loans (3% for small businesses & landlords; 2% for nonprofits) and will prioritize helping businesses that meet the following criteria:
· Small Businesses and nonprofits that employ 20 or fewer Full Time Equivalent employees
· Small businesses that have gross revenues less than $3 Million per year
· Businesses that have not received a PPP or EIDL loan from the SBA
Click here for more information on the New York Forward Loan and to apply.
Taxes, Insurance and Useful Info on Payments
- Update: The Federal and State Income Tax deadline has been extended to July 15, 2020.
- Update: From NYS Tax Dept, “Sales Tax Payments and Returns were due March 20, 2020; however, penalty and interest may be waived for quarterly and annual filers who were unable to pay on time due to COVID-19.” Click here to see how to request relief from penalty and interest.
- COVID Property Tax Impacts (updates regularly)
- NYS Tax Department Response On COVID-19
- Paid Sick Leave
- Unemployment Insurance
- New York State Resources
Access to Services and Technical Assistance
- Rensselaer County Tourism Free Sign Program
- If you have a small business and need a window sign to advertise your weekly takeout/delivery specials, contact the Rensselaer County Tourism Office. Email: [email protected] or Call: (518) 270-2673
- Small Business Development Center
- Click on “Make an Appointment”
- Complete and submit the form
- Once the request is received, you will be assigned to a Business Adviser to assist you.
- New York State Restaurant Association COVID 19 Resources
- Downtown BID – COVID 19 Business Resources Page
- Rensselaer County Chamber Business Resources Page
Useful Articles for Your Business
- Business Survival Tips During an Emergency
- Update – April 2: “COVID 19 Crisis Prompts Changes to Bankruptcy Code Concerning Debtors, Consumers and Businesses” – Harris Beach, PLLC
- “Got kids? Try These 11 Quick Tips for Working From Home While They’re With You”, Fast Company, March, 17, 2020
- Info for Restaurants and Other Food Vendors
- Update: All non-essential businesses that are normally open to the public must remain closed. Bars and Restaurants may provide takeout and deliver. Also, all non-essential gatherings of any size for any reason are banned. Click here to view Executive Order 202.8
- 10 Steps to Take Right Now (National Restaurant Association)
- At this time all vendor/peddler/special event permits through the City of Troy have been suspended. Please check on the City Clerk’s page for updates vendor permits or special events permit
- Info for Contractors and Construction Companies (TBA)
- Update: All non-essential construction must be shut down except emergency construction (e.g. a project necessary to protect health and safety of the occupants, or to continue a project if it would be unsafe to allow to remain undone until it is safe to shut the site). Read more on Construction exemptions in paragraph 9 under ESD’s page here.
- Info for Landlords (TBA)