Pandemic Small Business Recovery Grant Program – Eligibility Expanded

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The program provides grant funding to small and micro businesses and for-profit independent arts and cultural organizations with fewer than 100 employees impacted by the pandemic. New changes to the program as of Aug. 25, 2021 enable more small businesses to apply for funding: businesses with revenues of $25,000 up to $2.5 million can now apply for grants, up from the previous threshold of $500,000. Additionally, the limitation for businesses that received Federal Paycheck Protection Program loans has been increased from $100,000 to $250,000.  Gov. Kathy Hochul’s press release here.

Current applicants are encouraged to finalize their applications as soon as possible. Previously ineligible small businesses may now apply; processing of those applications will begin Wednesday, Sept. 8. Priority will be given to socially and economically disadvantaged business owners including, but not limited to, minority and women-owned business enterprises, service-disabled veteran-owned businesses and veteran-owned businesses.

Grants will range from $5,000 to a maximum of $50,000 depending on 2019 annual gross receipts and are flexible. They can be used for a number of different business operating expenses, including payroll, rent or mortgage payments, taxes, utilities, PPE or other business expenses incurred between March 1, 2020 and April 1, 2021.

Eligible Applicants will be required to show loss of gross receipts or other economic hardship as a result of the COVID-19 pandemic and compliance with COVID-19 health and safety protocols which resulted in business modifications, interruptions, or closures. Applicants that have already received or been awarded from the following programs below the thresholds indicated are still eligible:

  • Paycheck Protection Program loans totaling $250,000 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 of $150,000 or less.

More information, program guidelines and the grant application, can be found here.

Post Date

Aug 26th 2021