Pandemic Small Business Recovery Grant Program
The Pandemic Small Business Assistance Grant Program provides funding to small and micro businesses who experienced losses due to COVID-19.
New York State announced the launch of the $800 million COVID-19 Pandemic Small Business Recovery Grant Program, which will provide grants of up to $50,000 to COVID-19 impacted small and micro businesses and for-profit independent arts and cultural organizations. The program application portal is open and eligible business should apply.
Eligible applicants must have 2019 or 2020 annual gross receipts between $25,000 and $500,000, have 100 employees or fewer, and demonstrate positive net profit on their 2019 business return ($1 or greater on (line 28 of IRS Form 1120; line 22 pf IRS Form 1065; or line 31 of IRS Form 1040 Schedule C). Further, applicants must demonstrate at least 25% loss in annual gross receipts from 2019 to 2020 in a year-to-year comparison, be currently viable, began operation on or before 3/1/19 and continue to be in operation as of the date of application.
The grants can be used for business operating expenses incurred between 3/1/20 and 4/1/21, including payroll, rent or mortgage payments, taxes, utilities and PPE. Additionally, eligible applicants may have received or been awarded the following federal assistance:
Paycheck Protection Program loans totaling $100,000 or less.
COVID-19 EIDL Advance Grant of $10,000 or less.
COVID-19 EIDL Supplemental Targeted Advance Grant of $5,000 or less.
SBA Shuttered Venue Operators Grant
Please keep in mind that businesses that received awards from the Restaurant Revitalization Fund (RRF) grant program are not eligible, and that grants awarded under this program may not be used to re-pay any portion of a federal COVID-19 recovery loan or any NYS business assistance programs.
Required documents will include the business’ 2019 and 2020 tax returns, most recent NYS-45 form, information on those who have 20% or more ownership interest, proof of location and operation (eg. lease, utility bill, bank statement), and proof of business organization (eg. articles of incorporation, certificate of assumed name/DBA).
For more information on grant calculations, documentation requirements, and eligible expenses check out the COVID-19 Pandemic Small Business Recovery Grant Program website as well as the Program Overview and Program FAQs. Business owners can also reach out to the call center (877) 721-0097 with questions. Notifications about selection decisions are scheduled to begin June 28, 2021.