With businesses closing in response to Covid-19, many service workers have suddenly lost a
reliable income. To support them, Venmo @bailoutnyc. We'll distribute 100% of the money
raised to the Venmo accounts of the registered businesses listed below, so they can send it
to their staff.
If you'd like to support the staff of a particular business, you can also find them below
and contribute to them directly.
In order to slow the spread of the coronavirus, the local government is
restaurants, bars, cafes, nightclubs, movie theaters, small theater houses, and concert
venues to close. Elsewhere closures are even more comprehensive.
While this is prudent from a public health perspective, these closures will have a real
and immediate economic impact to service workers across industries. It could mean missed
rent or inability to pay for basic needs for many.
The city recognizes the economic stress this will put on service workers, and, in order
to incentivize businesses to keep employees on payroll, the administration has announced
that "businesses with fewer than 100 employees could be eligible for an interest-free
loan up to $75,000 as long as they can document a 25% loss in customer receipts because
of the coronavirus."
While an interest free loan is a good place to start, we believe we can do more to help
those affected, and are raising funds to be distributed to all the businesses affected
by this public health crisis.
The economic impacts of the coronavirus will be comparable to a very severe recession --
some economists estimate direct output loss of 30% for a fiscal quarter, which would
equate to an annual GDP loss of 7.5%.
Hopefully, we can anticipate the second order consequences of the coronavirus and
proactively work to mitigate them more swiftly than we have addressed the public health
We cannot all be working alongside all of the heroic healthcare workers testing and
treating coronavirus patients, but our goal with this project is to enable every citizen
to do something today to mitigate the economic impact suffered by a huge number of