The New York State Pandemic Small Business Recovery Grant Program will begin taking applications this Thursday, June 10. We urge you to learn if the program is right for you, get your paperwork together, and be ready to apply on June 10, as applications will be processed on a first come, first served basis.
Here are a few frequently asked questions about the program:
What is it?
An $800 million grant program designed to help small businesses impacted by the pandemic. The program was included in the recently enacted New York State Budget following Senator Kaplan’s advocacy.
Is this another loan that I have to pay back?
NO, you don’t have to pay back a cent of what you get. This is a grant program, and qualifying small businesses are eligible for grants between $5,000-$50,000 depending on how big your business is.
How do I know if I qualify?
Many small businesses with 100 or fewer employees who can demonstrate revenue loss due to the pandemic may qualify. Visit https://esd.ny.gov/business-pandemic-recovery-initiative to find out if you are eligible, and to see if you might qualify for other new assistance programs from New York State.
What can I spend the grant money on?
Grants can be used for certain expenses incurred between March 1, 2020 and April 1, 2021. Eligible expenses include (but are not limited to) payroll costs, rent or mortgage payments, certain taxes, general operating expenses, and materials and supplies necessary for complying with COVID regulations.
Where do I apply, or go to learn more information?
Visit the Empire State Development website today to find out more and get ready to apply. While you’re there, you might learn that you qualify for other new programs that exist to help small businesses, including tax credits and other grant programs.
Is there anyone who can help me with this process?
YES, and it doesn’t cost anything to get help. Contact the Farmingdale Small Business Development Center, which serves all of Nassau County. Visit https://www.farmingdale.edu/small-business-development-center/ or call 934-420-2765. They’re a great resource to help you with any question you have about these grants, or any other small business issue. And their services are always FREE.