The Hudson Business Coalition has announced the formation of a Small Business Relief Fund to help businesses in the city to survive and successfully reopen once the statewide lockdown is lifted. Hudson Bonds are intended to be an "easy and public-spirited way for everyone who loves Hudson to support our city's unique and inspired small businesses get through this crisis," according to a statement released by the coalition. The concept is based on a similar program established by a restaurant in Brooklyn following Superstorm Sandy. The redeemable bonds fund the creation of a Small Business Relief Fund to help businesses with expenses, and to encourage local shopping in Hudson once it is safe to reopen. While traditional bonds are purchased at one price and redeemed at a higher value, Hudson Bonds work in reverse. A buyer pays twice the face value of the bond. One-half of the purchase price goes to the relief fund and the other half is redeemed at a participating business. The coalition is currently in the process of enrolling interested businesses.