October 16, 2020

LISC NYC Small Business Relief & Recovery Fund: Round 2 Opens Monday, October 19th at 9 am!

Last day to apply is Friday, November 6th at 11:59 pm. For more information click here!

LISC NYC’s Small Business Relief & Recovery Fund will provide over $1 Million in $10,000 direct grants to New York City minority-owned small businesses that face challenges to their survival in the face of the COVID-19 pandemic. Round 1 ran from September 14th through October 2nd. Round 2 opens on Monday, October 19th at 9 am and closes at 11:59 pm on Friday, November 6th.

To be eligible, businesses must be located in New York City; owned by a minority; have 20 or fewer employees; and have an annual revenue of less than $500,000. Priority is being given to small businesses located in designated low- to moderate-income neighborhoods. Grantees can use funds to meet expenses such as payroll, rent, overhead, marketing, upgrades to technology and infrastructure, employee training, and related costs.

Eligible businesses are encouraged to apply by contacting one of LISC NYC partner community-based organizations (CBOs).  LISC NYC has partnered with 16 CBOs to deliver these grants, plus technical assistance, to hard-hit small businesses. The CBOs will conduct outreach to small businesses, assess their eligibility, and help them prepare and submit applications for funding. Partner organizations include:

Bronx: Mosholu Preservation Corporation; Women’s Housing and Economic Development Corporation (WHEDco)

Brooklyn: Bedford Stuyvesant Restoration Corporation; Bridge Street Development Corporation; Brooklyn Navy Yard Development Corporation; Cypress Hills Local Development Corporation

Manhattan: Asian Americans for Equality (AAFE); Harlem Park to Park; New York Women’s Chamber of Commerce; Uptown Grand Central; West Harlem Group Assistance

Queens: Asian Americans for Equality (AAFE); Chhaya Community Development Corporation; Greater Jamaica Development Corporation; Long Island City Partnership; Rockaway Development & Revitalization Corporation

Staten Island: Staten Island Chamber of Commerce

Through a partnership between LISC NYC and the NYC Department of Small Business Services (SBS), these organizations will also connect small businesses to a local NYC Business Solutions Center for free business support. Assistance will include guidance on compliance with new regulations and information about how to access legal assistance, additional financial resources, and training and mentorship opportunities.

The Small Business Relief & Recovery Fund was launched with seed funding from New York City-based Two Sigma Investments. LISC NYC is grateful for the generous support from the corporate, philanthropic, and governmental funders who have made this opportunity possible.