New York State’s small businesses are encouraged to apply for the $800 million COVID-19 Pandemic Small Business Recovery Grant Program. Grants are available for eligible small businesses that have revenues up to $2.5 million and are experiencing hardship due to COVID-19. Additional information and the application are available at https://nysmallbusinessrecovery.com/.
Empire State Development and Lendistry, the minority-led Community Development Financial Institution that was selected to administer the program, are accepting and reviewing applications on a rolling basis. There is no deadline at this time. Questions about the program can be directed to Lendistry at 877-721-0097.
Grants for a minimum award of $5,000 and a maximum award of $50,000 are 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 New York State-based property; payment of local property or school taxes; insurance and utility costs; costs of personal protection equipment necessary to protect worker and consumer health and safety; costs for heating, ventilation, and air conditioning, or other machinery and equipment; and supplies and materials necessary for compliance with COVID-19 health and safety protocols.
Additionally, the limitation for businesses that received Federal Paycheck Protection Program loans has been increased from $100,000 to $250,000.
State Agriculture Commissioner Richard A. Ball is especially urging those in the agricultural industry to apply. Ball said, “There are so many agribusinesses that are still feeling the effects of the COVID-19 pandemic and facing many challenges after having lost markets at schools and restaurants. This grant program provides an opportunity for our food and beverage producers, our farmers, and our growers to access some much-needed capital to help recover their losses and rebuild their businesses.”
To help those in the agricultural industry apply for the COVID-19 Pandemic Small Business Recovery Grant Program, the Department of Agriculture and Markets is hosting a webinar for interested businesses on December 13 at 11 a.m. The webinar will provide an overview of the grant program, the level of funding available, and how to apply for funds. To access the webinar, please visit https://bit.ly/3pAvqie.
For additional information regarding the various resources available to support businesses seeking pandemic relief, ESD has created a webpage, https://esd.ny.gov/business-pandemic-recovery-initiative. The site is continuously updated as more details and funding information becomes available.
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