A program that provides flexible grants to businesses still recovering from the pandemic is now open in New York State.
Governor Kathy Hochul announced that the applications portal for the Seed Funding Grant Program is open.
The new program is designed to support New York State small businesses, micro-businesses and for-profit independent arts and cultural organizations that started operations on or after September 1, 2018 and have been operational for at least six months before an application is submitted. Applicants must have between $5,000 and $1 million in gross receipts per year as reflected on their most recent federal business tax return.
More detailed guidelines can be found here: https://esd.ny.gov/nys-small-business-seed-funding-grant-program
The Pandemic Small Business Recovery Grant Program also is being expanded to enable more small businesses to access funding by removing the requirement that businesses show a twenty-five percent loss in annual gross receipts from 2019 to 2020. This expansion of eligibility comes in addition to previous program changes to profitability requirements and revenue thresholds, aimed at serving additional small businesses. The program, which will continue to process applications currently in the pipeline, will close as funding winds down on September 30, 2022.
More information is available here: https://esd.ny.gov/organizations-available-assist-businesses
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