Foundation News Archive 2020
George Gurney is a recent graduate of Oyster Bay High School. During his time in attendance, he served as the President of Rho Kappa, the Social Studies National Honors Society, Vice President of the Science National Honors Society, and Epee Captain of the Boys Varsity Fencing Team. He was named to Nassau County All Stars Boys Epee Fencing. He was also an active member of Mock Trial, Model UN, and National Honor Society. He became an Eagle Scout with Troop 253. During his time as Boy Scout, he has served in many leadership roles. Most recently, he was a Junior Assistant Scoutmaster. His Eagle Scout Project involved converting a pond into a turtle exhibit for the Cold Spring Harbor Fish Hatchery & Aquarium by planting hundreds of native plants and installing a 200 ft barrier around it. He has volunteered at the Cold Spring Harbor Fish Hatchery & Aquarium for over four years. His volunteering has led him to earn two National President's Volunteer Service Awards. George has received a number of honors including the Long Island Council for Social Studies Award, Theodore Roosevelt Association Award, and was selected by the Theodore Roosevelt Council as this year's recipient of the Glenn A. and Melinda W. Adams Eagle Scout Service Project of the Year. George will attend Michigan State University, in the Honors College and James Madison College, where he will continue his passion for History.
"New York Forward Loan Fund (NYFLF) is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE.
NYFLF targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees (90% of all businesses), nonprofits and small landlords that have seen a loss of rental income.
NYFLF is providing working capital loans so that small businesses, nonprofits and small landlords have access to credit as they reopen. These loans are available to small businesses, nonprofits, and small landlords that did not receive a loan from either the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) or SBA Economic Injury Disaster Loans (EIDL) for COVID-19 in 2020. The loans are not forgivable in part or whole. The loans will need to be paid back over a 5-year term with interest.
The working capital loans are timed to support businesses and organizations as they proceed to reopen and have upfront expenses to comply with guidelines (e.g., inventory, marketing, refitting for new social distancing guidelines) under the New York Forward Plan.
The geographic proportionality goals for the New York Forward Loan Fund for small businesses are:
- Capital Region 4%
- Central NY Region 4%
- Finger Lakes Region 4%
- Hudson Valley Region 12%
- Long Island Region 18%
- Mohawk Valley Region 4%
- NYC Region 30%
- North Country Region 4%
- Southern Tier Region 4%
- Western NY Region 8%
Access to loans for small landlords will be targeted to owners with residential buildings of 50 units or less, and will prioritize loans for landlords whose properties are in low and moderate income census tracts or who serve low to moderate income tenants.
The New York Forward Loan Fund is supported by Apple Bank, BNB Bank, BlackRock Charitable Fund, Citi Foundation, Evans Bank, Ford Foundation, M&T Bank, Morgan Stanley, Ralph C. Wilson, Jr. Foundation and Wells Fargo.
Pre-applications for the New York Forward Loan Fund are now open. Priority will be given to industries and regions that have been reopened. This is not a first-come, first-served loan program. Applications will be reviewed on a rolling basis as regions and industries reopen.
For small businesses and nonprofits that are in industries and regions that have not yet reopened, you are encouraged to prepare your pre-application in advance by taking advantage of the application preparation resources available here.
Five Community Development Financial Institutions (CDFIs) will be processing pre-applications on June 1, 2020: Accion East, Community Preservation Corporation, National Development Council, Pursuit and TruFund Financial Services. Please do not apply to the participating CDFI lender directly."
The full text can be found on the NYS website at https://esd.ny.gov/nyforwardloans-info
HYC Cares: Emergency Relief Grants up to $20,000 are available to nonprofit cultural organizations that are based in and serve New York State. The maximum award amount will be determined by an organization’s total operating expenses as documented in its most recent 990.
Verizon Small Business Recovery Fund: Fund that will provide grants of up to $10,000 to businesses and non-profits facing immediate financial pressure as a result of COVID-19, especially entrepreneurs of color, women-owned businesses, and other enterprises coming from underserved communities. Funds must be used on payroll, rent, utilities, outstanding debt to vendors, or any other immediate operational costs.
U.S. Small Business Administration: Find Eligible Lenders
Council on Foundations: Events and Recordings on COVID-19 Response
Council on Foundations: CARES Act Benefits for Small Businesses & Tax Exempt Organizations
National Council of Nonprofits: COVID-19 Resources
U.S. Department of Labor: Families First: Paid Leave under the Coronavirus Response Act
Independent Sector: CARES Act: How to Apply for Nonprofit Relief Funds
The Jewish Federations of North America: FAQs About Paycheck Protection Program SBA 7(a)Loans for Nonprofits
The Jewish Federations of North America: Comparison of Payment Protection Plan Loans and Economic Injury Disaster Loans
NewSchools Venture Fund: $349 Billion In Forgivable Paycheck Protection Loans For Nonprofits. Here’s How To Apply.
Schusterman Family Foundation: Overview of SBA COVID-19 Economic Assistance Opportunities
