Photo credit: Jono Erasmus
NYC Small Business Services launched on December 8, 2021 the Small Business Resilience Grant to help NYC’s small businesses offset operational expenses to mitigate economic hardships due to the COVID-19 pandemic.
The grant program administered by Lendistry will provide $10,000 grants to eligible small businesses in:
* Low-to-moderate income (LMI) areas as defined here
* The arts, entertainment, and recreation sectors; and/or
* The accommodation and food services sector
Examples of appropriate uses for a grant include:
– supporting payroll and benefits costs
– costs to retain employees
– mortgage, rent, or utilities costs
– other operating costs.
To be eligible for a grant, small businesses must:
* Operate in New York City
* Meet the statutory definition of “small business” (i.e., have 500 or fewer employees, or, if applicable, the size standard in number of employees established by the U.S. Small Business Administration administrator or meet the definition of “small business concern” as defined in 15 U.S.C. § 632)
* Be one or both of the following:
– a small business in which at least 50% of its revenue is generated from activities that are defined by the North American Industry Classification System (NAICS) as part of the Arts, Entertainment, and Recreation sector, or the Accommodation and Food Services sector
– a small business that physically operates from a low-to-moderate census tract as defined by the United States Department of Housing and Urban Development (as validated by the business address; use this map to check if your business is located in an eligible census tract)
* Be in operation since October 1, 2019, and in operation at the time of submission of the application
Demonstrate at least a 25% reduction in gross receipts or revenue in either: (a) comparable quarters in 2019 and 2020, or (b) the 12-month 2019 calendar year and the 12-month 2020 calendar year
* Be in substantial compliance with applicable Federal, State, and local laws, rules, and other legal requirements
* Be current or in repayment on all Federal, State, and City taxes (including delinquency repayment, prior to December 31, 2019)
* Have not received a grant from either the Shuttered Venue Operators Grant Program or the Restaurant Revitalization Fund
To apply visit: https://covidresilience.nyc/
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