NYC Launches $100M Small Business Resilience Grant for Hard-Hit Sectors and Low to Moderate Income Communities
Mayor Bill de Blasio and NYC Department of Small Business Services (SBS) Commissioner Jonnel Doris today announced the $100 million NYC Small Business Resilience Grant to provide immediate funding to small businesses in the arts, entertainment, recreation, accommodation, and food sectors and in low to moderate income (LMI) communities to help them recover from the pandemic.
Small businesses must be in the arts, entertainment, recreation, accommodation, and food sectors or located in an LMI neighborhood as defined by census tract data. Eligible businesses can apply to receive a $10,000 grant. The grant can be used for payroll and benefits, mortgage, rent, utilities, and other operating costs.
Businesses who would like to apply for the grant must:
Have been in operation before October 1, 2019
Demonstrate revenue loss between 2019 and 2020
Not have received a federal grant from the Shuttered Venues Operators Grant program or the Restaurant Revitalization Fund.
Applicant must use the $10,000 grant to mitigate economic hardships that occurred as a result of the COVID-19 pandemic by using the grant funds to offset operational expenses incurred between March 3, 2021, and December 23, 2024, for the small business that is the basis for the Applicant’s eligibility for the grant.
Examples of eligible expenses include the following:
payroll and benefits
mortgage
rent
utilities
other operating costs
The NYC Small Business Resilience Grant Program is funded by the NYC Department of Small Business Services (SBS) and administered by Lendistry.