Empire State Development has announced that the New York State COVID-19 Pandemic Small Business Recovery Grant Program, which was created to provide flexible grant assistance to currently viable small businesses, micro-businesses and for-profit independent arts and cultural organizations in New York that have experienced economic hardship due to the COVID-19 pandemic, is now open. The program is administered by ESD and powered by Lendistry.
Grant awards will be calculated based on a business’ annual gross receipts for 2019:
- Annual gross receipts = $25,000-$49,999: $5,000/business;
- Annual gross receipts = $50,000-$99,999: $10,000/business; and
- Annual gross receipts = $100,000-$500,000: 10% of gross receipts (max grant is $50,000).
Eligible Use of Grant Funds – The grants must be used for COVID-19 related losses or expenses incurred between March 1, 2020 and April 1, 2021. These include:
- Payroll costs
- Commercial rent or mortgage payments for NYS-based property (but not any rent or mortgage prepayments)
- Payment of local property or school taxes associated with a small business location in NYS
- Insurance costs
- Utility costs
- Costs of personal protection equipment (PPE) necessary to protect worker and consumer health and safety
- Heating, ventilation, and air conditioning (HVAC) costs
- Other machinery or equipment costs
- Supplies and materials necessary for compliance with COVID-19 health and safety protocols
- Other documented COVID-19 costs as approved by Empire State Development
Ineligible Uses of Funds – Grants awarded under the program may not be used to re-pay or pay down any portion of a loan obtained through a federal COVID-19 relief package for business assistance or any New York State business assistance programs.
For eligibility requirements and more information regarding the New York State COVID-19 Pandemic Small Business Recovery Program, and to begin your application, please visit www.nysmallbusinessrecovery.com