Businesswoman with Mask
NYC Small Business Resilience Grant
 

Due to the overwhelming response, the application for the NYC Small Business Resilience Grant has been paused until further notice. Applicants that have already begun applications should complete their applications as soon as possible.

 

The NYC Small Business Resilience Grant is a $10,000 grant to help eligible small businesses recover from the economic hardships that occurred because of the COVID-19 pandemic. This program is funded by the NYC Department of Small Business Services (SBS) and administered by Lendistry.

Use of Funds

Applicant must use the $10,000 grant funds to offset operational expenses incurred between March 3, 2021, and December 23, 2024. Examples of eligible expenses include the following:

  • payroll and benefits

  • mortgage

  • rent

  • utilities

  • other operating costs

Eligibility

To be eligible for a grant, small businesses must:

  1. Operate in New York City

  2. Meet the statutory definition of “small business” (i.e., have 500 or fewer employees, or, if applicable, the size standard in number of employees established by the U.S. Small Business Administration administrator or meet the definition of “small business concern” as defined in 15 U.S.C. § 632)

  3. Be one or both of the following:

    1. a small business in which at least 50% of its revenue is generated from activities that are defined by the North American Industry Classification System (NAICS) as part of the Arts, Entertainment, and Recreation sector, or the Accommodation and Food Services sector

    2. a small business that physically operates from a low-to-moderate census tract as defined by the United States Department of Housing and Urban Development (as validated by the business address; use this map to check if your business is located in an eligible census tract)

  4. Be in operation since October 1, 2019, and in operation at the time of submission of the application

  5. Demonstrate at least a 25% reduction in gross receipts or revenue in either: (a) comparable quarters in 2019 and 2020, or (b) the 12-month 2019 calendar year and the 12-month 2020 calendar year

  6. Be in substantial compliance with applicable Federal, State, and local laws, rules, and other legal requirements

  7. Be current or in repayment on all Federal, State, and City taxes (including delinquency repayment, prior to December 31, 2019)

  8. Have not received a grant from either the Shuttered Venue Operators Grant Program or the Restaurant Revitalization Fund

For more information about this program, check out the program guide or call 1-888-959-6471

We know navigating different COVID-19 relief programs can be challenging. The Pace University SBDC is here to help. Contact us to schedule a no-cost, one-on-one business counseling session.