This network of service providers will work directly with small businesses, guiding them through available funding sources and helping them navigate the application process. Recognizing that pandemic-induced economic hardship has disproportionately affected micro and small businesses, and that application processes can be difficult to navigate -especially due to a language barrier -the partners will use these funds to hire or contract more staff for one-on-one, direct counseling services. The Empire State Development Board of Directors approved $10 million in technical assistance grants for New York’s statewide entrepreneurship assistance centers,small business development centers, and 26 additional community organizations and chambers of commerce to help small businesses and for-profit independent arts and cultural organizations secure COVID-related financial assistance and grants available through existing state and federal programs. Education materials and applications will be offered in 12 languages in addition to English. This support, along with increased technical assistance staffing, will position these providers to better assist businesses and organizations in applying for funding through the New York State’s COVID-19 Pandemic Small News Recovery Grant Program, the federal American Rescue Plan Act of 2021, or any other available federal economic recovery program, catalyzing our state and local economies as more businesses and communities reopen.
Commercial rent or mortgage payments for NYS-based property
Payment of local property or school taxes
Costs of personal protection equipment necessary to protect worker and consumer health and safety
Heating, ventilation, and air conditioning cost
Other machinery or equipment costs
Supplies and materials necessary for compliance with COVID-19 health and safety protocols
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:
On June 8, Governor Cuomo proposed legislation to waive taxes on grants from the COVID-19 Pandemic Small News Recovery Grant Program. ESD has created a website —NYSBusinessRecovery.ny.gov —to highlight the various resources available to support small businesses seeking pandemic relief. The website will be continuously updated as more details and funding information become available. More than 330,000 small and micro businesses are potentially eligible for this program, including 57 percent of the state’s certified MWBEs. The application site for the program will be powered by Lendistry, a minority-led Community Development Financial Institution. The state will also be launching an ad campaign to promote this program to small businesses, as well as an array of other pandemic recovery programs.
The News Highlights
- Governor Cuomo announces open applications for the $800 million COVID-19 Pandemic Small News Recovery Grant Program
- Check the latest News news updates and information about business, finance and more.
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