NYS Small Business Recovery Grant Program
New York State introduces Small Business Recovery Grant Program
Certain small businesses may be eligible for assistance through the New York State COVID-19 Pandemic Small Business Recovery Grant Program.
The program reimburses New York small businesses with grants of up to $50,000 for COVID-related expenses incurred between March 1, 2020 and April 1, 2021. Grants will be awarded to small and micro businesses and small for-profit independent arts and cultural organizations, with priority being given to socially and economically disadvantaged business owners, including minority- and women-owned business enterprises, service-disabled veteran-owned businesses, and veteran-owned businesses, and businesses located in economically distressed communities.
The program was created to provide flexible grant assistance to currently viable small businesses, micro-businesses and for-profit independent arts and cultural organizations in the State of New York that have experienced economic hardship due to the COVID-19 pandemic.
Applications are now open with grant awards calculated based on a business’s annual gross receipts for 2019, among other eligibility requirements. Grant amounts and calculations are subject to change by Empire State Development.
Grant awards overview:
- 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 – $500,000: Award is 10% of gross receipts (maximum grant is $50,000)