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COVID-19 Relief Updates: Two New Restaurant Programs, Expanded Pandemic Grant Eligibility, & More
New York State has launched two new programs to help restaurants recover from COVID-19: the NYS Restaurant Return-to-Work Tax Credit and NYS Restaurant Resilience Program. Additionally, Empire State Development announced a change in guidelines for the NYS Pandemic Recovery Grant so that more small businesses will be eligible. Finally, we want to remind all entrepreneurs of the upcoming deadline to apply for COVID-19 Economic Injury Disaster Loans. Read below for more details on these programs.
NYS Restaurant Return-to-Work Tax Credit
New York State has launched a $35 million Restaurant Return-to-Work Tax Credit Program. Managed by the NYS Empire State Development (ESD), the Program provides tax credits of $5,000 per new worker hired, up-to $50,000 per business, to qualifying restaurant small businesses that increase their employment by at least one full-time equivalent employee during 2021. Click here to read our dedicated webpage with full program details and complete the program eligibility questionnaire to determine whether your business is eligible.
NYS Restaurant Resilience Program
Administered by the NYS Department of Agriculture & Markets, the Restaurant Resiliency Program provides grants to restaurants that offer meals and other food-related items to New Yorkers within distressed or underrepresented communities. The program will provide New York's regional food banks with the funding to purchase prepared meals from New York restaurants and deliver them to families in need. Check out the Program Rules, Terms and Conditions for more information and click here to apply to be one of the restaurants participating.
Updated NYS Pandemic Recovery Grant Eligibility
Empire State Development (ESD) announced amended eligibility criteria for the NYS Pandemic Recovery Grant. Small businesses and non-profits incorporated in OR registered/licensed to do business in New York State are now eligible to apply. Check out ESD's updated Program and Application Guide or you can read more about the program on our NYS Pandemic Recovery Grant webpage. If your business was denied prior to this change, contact the grant's call center at 877-721-0097 and update your case file.
Applications For COVID-19 EIDL Are Due December 31, 2021
The deadline for submitting COVID-19 Economic Injury Disaster Loan (EIDL) applications and for submitting Targeted EIDL Advance and Supplemental Targeted Advance applications through the U.S. Small Business Administration (SBA) is 11:59 PM ET on December 31, 2021. While the SBA will continue to review loan applications after December 31, applicants are encouraged to submit their COVID-19 EIDL loan applications as soon as possible. For more information about this program and how to apply, visit our COVID-19 EIDL webpage.
The Pace SBDC Is Here To Help
If you need assistance applying for one of these programs or understanding how changing guidelines may affect your business, our team of business counselors is here to help. Contact the Pace SBDC to arrange a no-cost, personalized business counseling session with a Certified Business Advisor.