Small Business Grants New York
Small Business Grants New York
In good times and in bad, New York small businesses need financial help.
Some businesses require a funding source for growth and development. Other small businesses need it to survive.
Loan and grant programs are available to New York small business owners.
Quick Overview: Grant Criteria
Depending on company type, location, and financial needs, owners can choose the right. Before a small business can receive a grant, it must check whether it meets the loan criteria
Federal, state, and regional government agencies offer small business grants. Each with a list of eligibility requirements.
Review every grant program the business may qualify for before applying. One missing piece of criteria can cause the rejection of the grant application.
Grants For New York Small Businesses
Visit the official website for each grant, loan, program, and resource. Gain a clear understanding of their details, requirements, closing dates, and more.
1. Global NY State Trade Expansion Program (STEP)
The Global NY State Trade Expansion Program provides small businesses with up to $6,000. The business must be entering the export market.
The small business can use the funds for:
- Virtual services
- Compliance testing
- Export training workshops
- International marketing campaign
- Foreign market sales trips and trade show
2. New York State COVID-19 Pandemic Small Business Recovery Grant Program
New York State COVID-19 Pandemic Small Business Recovery Grant Program offers flexible grant aid.
Entities that can apply in New York include:
- Small businesses
- For-profit independent arts
- Cultural organizations
All must have experienced economic injury resulting from the COVID-19 pandemic.
3. Personal Protective Equipment (PPE)
Personal Protective Equipment (PPE) serves as an emergency resource for healthcare facilities. The New York City Department of Health and Mental Hygiene (DOHMH) created PPE. Its mission is to help health organizations across New York City during a patient surge.
Emergency resources PPE provides:
- N-95 Respirators
- Fabric Masks
- Disposable Masks
- Face Shields
- Nitrile Gloves
4. Global NY Fund Grant Program
Global NY Fund Grant Program is a grant for increasing global exports. For-profit businesses can get up to $25,000, and nonprofits can receive up to $100,000.
Applicants should speak with an ESD Global NY Representative for guidance before applying. If applicants do not follow this recommendation, it may delay the approval process.
Businesses can use the grant money for:
- Export workshops
- Product adaptations to meet foreign regulations
- Trade show participation
- Market customization
5. Restaurant Resiliency Program
Restaurant Resiliency Program is a $25 million grant funding. The program supports restaurants that provide meals to distressed and under-represented communities.
6. Restaurant Return-To-Work Tax Credit
Restaurant Return-To-Work Tax Credit is for small, independently owned restaurants. The restaurant must be in New York City.
It also helps any area in New York State. As long as it is in areas the NYS Department of Health designates it as either an Orange or a Red zone. They must be in these zones for at least 30 consecutive days.
The credit is $5,000 for each full-time equivalent employee increase over the employment level of a specific period. The max amount per business is $50,000.
New York State restaurants can get this refundable credit if:
- Economically affected by COVID-19
- Can show a net employee increase
- Applied for a certificate of tax credit. They received it from the Empire State Development (ESD).
7. Restaurant Revitalization Fund
The Restaurant Revitalization Fund offers businesses up to $10 million grants. The Fund covers the shortfall between pre-pandemic revenue and 2020 sales. (minus other relief payments). It effectively makes the restaurants whole again for a lost year.
Funds may use funds for specific expenses, including:
- Business payroll costs (including sick leave)
- Payments on any business mortgage obligation
- Business rent payments (this does not include prepayment of rent)
8. New York Forward Loan Fund (NYFLF)
The New York Forward Loan Fund (NYFLF) is an economic recovery loan program. The Fund helps these entities reopen after COVID-19.
- New York State small businesses
- Small residential landlords
9. NYC Small Business Resilience Grant
The NYC Small Business Resilience Grant provides immediate funding. It helps small businesses in specific sectors in low to moderate-income (LMI) communities. It helps these businesses to recover from the pandemic.
10. Paycheck Protection Program (PPP)
The Paycheck Protection Program offers low-interest, forgivable loans for small businesses.
The PPP loan is to cover the following:
- Payroll costs
11. West New York Small Business Grant Program
The West New York Small Business Grant Program supports qualified small businesses affected by COVID-19.
The business must not have over 25 full-time employees.
The town awards up to $5,000 per business.
The entity must be:
- Limited liability
The small business must be up-to-date with all federal and state payroll, sales, and income taxes. They must also be located in West New York and registered with the NJ Department of Treasury.
12. The Galaxy of Stars
The Galaxy of Stars is an online network that provides free tools to help minority and women-owned businesses. The goal is to provide these businesses with the vital tools they need to succeed.
Minority and women-owned businesses get:
- A free website
- Free hosting
- It offers a $2,750 grant.
13. Comcast RISE Grant
The Comcast RISE program helps businesses owned and operated by Black, Indigenous, People, or Color (BIPOC) or females.
The Comcast RISE program offers:
- Marketing consultations
- Media placements
- Commercial creative production services
- Technology services
14. Brooklyn PowerUP! Business Plan Competition
The Brooklyn PowerUP! Business Plan Competition is an annual competition by The Brooklyn Public Library. Grant awards range from $1,000 to $20,000.
The business plan competition offers Brooklyn-based startup entrepreneurs the opportunity to:
- Win seed money
- Refine their business ideas
- Network with other entrepreneurs
New York offers statewide resources and grant programs. Small business owners should also look at federal and regional grants to check eligibility.
New York has a community of networks and organizations that support small businesses. Many offer help with loans, grant qualifications, and the application process.
Check the grant program's website to ensure the small business meets its criteria. Owners can also get more loan details, amounts, and availability dates.