NYC Small Business Resilience Grant, COVID-19 EIDL Deadline, and Other Upcoming Deadlines
New York City has launched a new Small Business Resilience Grant Program, offering $10,000 grants to eligible small businesses. Additionally, the SBA's pandemic-related Economic Injury Disaster Loan applications are due by the end of the month. Finally, we want to encourage all entrepreneurs to apply for the New York Public Library's Start-Up Competition as well as private sector COVID-19 relief programs highlighted below.
The NYC Department of Small Business Services (SBS) is providing a $10,000 grant to help eligible small businesses operating in NYC to recover from COVID-19 pandemic-related economic hardship. The program is administered by Lendistry and the funds are made to offset operational expenses incurred between March 3, 2021 and December 23, 2024. Examples of eligible expenses include payroll and benefits, mortgage, rent, utilities, and other operating costs.
Additional eligibility requirements include:
1) Physically operate from a low-to-moderate census tract or generating at least 50% of its revenue from activities in the Arts, Entertainment, and Recreation sector, or Accommodation and Food Services sector;
2) Being in operation since October 1, 2019, and in operation at the time of submission of the application; and
3) Demonstrating 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
For further grant eligibility criteria, click this link.
COVID-19 EIDL Applications Are Due December 31, 2021
The COVID-19 Economic Injury Disaster Loan (EIDL) is available for small businesses and non-profits and may be used to pay debts, payroll, inventory, accounts payable, and other ordinary and necessary expenses. Loans have an interest rate of 3.75% for small businesses and 2.75% for non-profits, and a maximum term of 30 years. The SBA raised the loan limit for the COVID-19 EIDL program to 24 months of economic injury with a maximum loan amount of $2 million. Click here for more information. The deadline to apply for an EIDL Loan and related Targeted EIDL Advance is December 31st, 2021.
Comcast Rise Applications are Due January 15, 2022
The Comcast RISE program offers marketing consultations, media placements, commercial creative production services, and technology services from Effectv and Comcast Business. To be eligible, the US-based business must be independently owned and operated by at least 51% Black, Indigenous, and People of Color (BIPOC), been operating for more than one year, and located within the Comcast Business or Effectv service area footprint. Learn more & apply here. The application deadline is January 15, 2022.
DoorDash's Restaurant Disaster Relief Grant Program Closes January 31st, 2022
DoorDash has launched a Restaurant Disaster Relief Fund in partnership with Hello Alice. The program will award $10,000 grants to restaurants who are experiencing hardship due to a natural disaster. For more information, check out our webpage on this program. The deadline to apply is January 31st, 2022 at 11:59 PM ET.
Enter The NYPL's StartUP Competition before January 31, 2022
The New York Public Library’s Thomas Yoseloff Business Center’s Annual New York StartUP! Business Plan Competition provides Manhattan, Bronx, and Staten Island-based startup entrepreneurs with the opportunity to win seed money. Grant awards include $15,000 for the first-place winner and $7,500 for the runner up. For more information, check out our webpage on this program. The deadline to apply is January 31st, 2022 at 11:59 PM ET.
The Pace SBDC Is Here To Help
Understanding the eligibility requirements and what documents are needed to apply for a given program can be challenging. The Pace University SBDC is here to help you make sense of it all. Contact us to schedule a no-cost, one-to-one business counseling session.