New York State’s COVID-19 Pandemic Small Business Recovery Grant Program

If your business is still struggling to recover due to the pandemic, New York State’s COVID-19 Pandemic Small Business Recovery Grant Program may help. Grants of up to $50,000 are available to eligible applicants.

Who is eligible? Small businesses, micro-businesses, and for-profit independent arts and cultural organizations that are currently viable and began operation on or before March 1, 2019, and continue to be in operation as of the date of application (maybe shuttered due to COVID restrictions) are eligible.

However, note that businesses that received awards from the SBA Restaurant Revitalization Grant Program, landlords and passive real estate businesses, nonprofits, religious institutions and certain other industry or business types are not eligible for this program.

To qualify, applicants must show loss of gross receipts as a result of the COVID-19 pandemic or compliance with COVID-19 health and safety protocols which resulted in business modifications, interruptions, or closures. How to show proof of loss is detailed on the state website mentioned below.

How can applicants use the grant money? The grants must be used for COVID-19 related losses or expenses incurred between March 1, 2020 and April 1, 2021. These include payroll costs, mortgage payments, commercial rent, insurance, utility costs, equipment and other relevant expenses. Grant money may not be used to re-pay or pay down any portion of a loan obtained through a federal COVID-19 relief package for business assistance or any New York State business assistance programs.

How much can businesses get? Grant awards are calculated based on a business’s annual gross receipts for 2019. At this time, awards are determined as follows:

• Annual gross receipts: $25,000 – $49,999.99: Award is $5,000 / business
• Annual gross receipts: $50,000 – $99,999.99: Award is $10,000 / business
• Annual gross receipts: $100,000 – $2,500,000 [as of 08/25/21]: Award is 10% of gross receipts (maximum grant is $50,000)

It is important to apply as soon as possible as there is limited funding. Priority is given to socially and economically disadvantaged business owners including, but not limited to, people with disabilities, service-disabled veteran-owned businesses, and veteran-owned businesses, or businesses located in communities that were economically distressed prior to March 1, 2020, as determined by the most recent Census data.

For more details and to apply, go to https://nysmallbusinessrecovery.com/.

* Update November 8, 2021 *

According to a press release by Governor Hochul,

• More than $325 million dollars has been awarded to nearly 20,000 small and micro-businesses across New York State
• More than 19,000 awardees were businesses with ten or fewer employees
• 83% of grantees were minority and women-owned business enterprises
• The average grant funded has been nearly $17,000