$800 million Small Business Recovery Grant Program announced
Governor Andrew Cuomo recently announced an $800 million Small Business Recovery Grant Program for economic hardships suffered as a result of the pandemic. Applications for the program will be accepted starting June 10.
The small business recovery grant program will provide funding to small and micro businesses and small for-profit independent arts and cultural organizations to help them recover from the economic impact of the pandemic, with priority being given to socially and economically disadvantaged business owners, including minority- and women-owned business enterprises, service-disabled veteran-owned businesses, and veteran-owned businesses, and businesses located in economically distressed communities.
Grants will be for a minimum award of $5,000 and a maximum award of $50,000 and will be calculated based on a New York State business' annual gross receipts for 2019. Reimbursable COVID-19 related expenses must have been incurred between March 1, 2020 and April 1, 2021 and can include:
• Payroll costs
• Commercial rent or mortgage payments for NYS-based property
• Payment of local property or school taxes
• 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
Additional information on the Small Business Recovery Grant Program, including how to apply, can be found by visiting https://esd.ny.gov/pandemic-small-business-recovery-grant-program.
Empire State Development (ESD) has created a website to help businesses navigate all of the financial recovery programs currently available. Find the programs designed to assist your business. https://esd.ny.gov/business-pandemic-recovery-initiative.
If you have any questions or need additional assistance, call Mike Lipari at the Finger Lakes Economic Development Center, 315-536-7328.