Provides up to $50,000 to eligible New York small businesses that have less than 100 employees.
The program will open on June 10, 2021.
https://esd.ny.gov/pandemic-small-business-recovery-grant-programDetails in my signature block below- here's a quick overview:
Eligibility-Must have been in operation on March 1, 2019, and must be currently active
-Must have 2019 or 2020 gross receipts of more than $25,000 and less $500,000
-Must have 2019 net profit of $1 or more
-Must show a decrease in gross receipts of at least 25% when comparing 2020 to 2019
-Must not have received more than $100,000 in PPP (total from both rounds)
-Nonprofits are not eligible for this grant
-Landlords (passive income) are not eligible for this grant
Grant-2019 gross receipts of $25,000-$49,999: Grant is $5,000
-2019 gross receipts of $50,000-$99,999: Grant is $10,000
-2019 gross receipts of $100,000-$500,000: Grant is 10% with a maximum of $50,000
-Grant request cannot exceed total 2020 expenses reported on the tax return