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For businesses that started operations on or after September 1, 2018 and have been operational at least 6 months before an application is submitted
The new Seed Funding Grant 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.
Awards for eligible businesses are based on their 2020 or 2021 tax returns. Businesses with gross receipts ranging from $5,000 to $49,999.99 can receive $5,000 per business. Businesses with $50,000 to $99,999.99 in gross receipts may be awarded $10,000 per business. Businesses with $100,000 to $1 million in gross receipts will be awarded ten percent of their gross receipts with a maximum grant amount of $25,000 per business. Eligible applicants that have not yet filed a federal tax return can receive $5,000 per business.
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The eligibility requirements for this program have been updated as of September 14, 2022. For businesses that have begun operation on or before March 1, 2019 and continue to be in operation as of the date of application.
The New York State COVID-19 Pandemic Small Business Recovery Grant Program was created to provide flexible grant assistance to currently viable small businesses, micro-businesses and for-profit independent arts and cultural organizations including independent arts contractors in the State of New York who have experienced economic hardship due to the COVID-19 pandemic.
Small businesses, Micro-businesses, and For-profit independent arts and cultural organizations including independent arts contractors (collectively, "Eligible Applicants") must be currently viable and have begun 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).
Filed Under: Government, City
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