New York State COVID-19 Pandemic Small Business Recovery Grant Program Expanded Eligibility Update
The successful recovery of small businesses like yours is key to New York State’s future.
The New York State COVID-19 Pandemic Small Business Recovery Grant Program, a program of NYS Empire State Development, was created to provide flexible grant assistance to currently viable small businesses, micro-businesses and for-profit independent arts and cultural organizations in the State of New York who have experienced economic hardship due to the COVID-19 pandemic.
As of August 25th, Governor Hochul has made some changes to the program in order to expand eligibility and access to the $800 million fund.
Eligible businesses may now:
- have 2019 or 2020 gross receipts of up to $2,500,000 and
- have received Paycheck Protection Program loans totaling up to $250,000
All current applicants, those who have not finished their applications, have not uploaded their documents or have incomplete documentation, must complete their applications by Friday, September 10th.
New applications (pursuant with the updated eligibility criteria) will begin to be processed as of September 8th.
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-$2,500,000: 10% of gross receipts (max grant is $50,000).
If you plan to apply to this grant program, or have any questions, please contact Natalie Vichnevsky.
For further eligibility requirements and more information regarding the New York State COVID-19 Pandemic Small Business Recovery Program, please visit www.nysmallbusinessrecovery.com
Evergreen is a technical assistance provider for this program. The program is administered by ESD and powered by Lendistry.