Author Topic: NY Small Business Grant Program  (Read 19040 times)

Online dealsrus

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Re: NY Small Business Grant Program
« Reply #40 on: December 09, 2021, 04:26:27 PM »
I had about 21000 on my 2019 schedule c I received 1 round of ppp. Can I get this or any other grants?
Thank you

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Re: NY Small Business Grant Program
« Reply #41 on: December 09, 2021, 04:54:45 PM »
I had about 21000 on my 2019 schedule c I received 1 round of ppp. Can I get this or any other grants?
Thank you

Apply for EIDL asap, you apply for the loan even if you won’t accept it in order to apply for the grants.

If you have 30/50% year-over-year losses for a single quarter, along with other qualifications, you could qualify for $10k targeted and $5k supplemental EIDL grants.

If you live in NYC there’s also the program in the OP, and the NYS grant that you qualify for.
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Re: NY Small Business Grant Program
« Reply #42 on: December 09, 2021, 05:30:02 PM »
Apply for EIDL asap, you apply for the loan even if you won’t accept it in order to apply for the grants.

If you have 30/50% year-over-year losses for a single quarter, along with other qualifications, you could qualify for $10k targeted and $5k supplemental EIDL grants.

If you live in NYC there’s also the program in the OP, and the NYS grant that you qualify for.
Thank you for responding. I live in nyc the ny small business grant says need 25,000. Is there a different one, or should I apply anyway?

Offline gozalim

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Re: NY Small Business Grant Program
« Reply #43 on: December 09, 2021, 05:35:03 PM »
Yes, a Schedule C is required
So someone can apply and get approved with returns that the IRS didn’t process yet? This is good news. Wish it was true for EIDL grants too.
so amending a 2019 to include a missing C that should have been filed at the time, should be doable and qualify?

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Re: NY Small Business Grant Program
« Reply #44 on: December 09, 2021, 05:45:13 PM »
Thank you for responding. I live in nyc the ny small business grant says need 25,000. Is there a different one, or should I apply anyway?
The NYS requires 25k minimum. The NYC doesn't.

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Re: NY Small Business Grant Program
« Reply #45 on: December 09, 2021, 05:46:29 PM »
so amending a 2019 to include a missing C that should have been filed at the time, should be doable and qualify?
Yes, except that the IRS is way behind on processing amended returns so if they decide they need a 4506-T...
(and the grant rules can change but that's worrisome for everyone)

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Re: NY Small Business Grant Program
« Reply #46 on: December 09, 2021, 05:58:11 PM »
The NYS requires 25k minimum. The NYC doesn't.
Where is the nyc link? is the nyc only in lower income areas?
If I didn't have a schedule c in 2020 would that be a problem?
« Last Edit: December 09, 2021, 06:18:36 PM by dealsrus »

Offline gozalim

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Re: NY Small Business Grant Program
« Reply #47 on: December 09, 2021, 06:07:16 PM »
Yes, except that the IRS is way behind on processing amended returns so if they decide they need a 4506-T...
(and the grant rules can change but that's worrisome for everyone)
so NYC doesn't pull transcripts, but NYC does? or NYC doesn't but can change and start?

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Re: NY Small Business Grant Program
« Reply #48 on: December 09, 2021, 07:18:01 PM »
Apply for EIDL asap, you apply for the loan even if you won’t accept it in order to apply for the grants.

If you have 30/50% year-over-year losses for a single quarter, along with other qualifications, you could qualify for $10k targeted and $5k supplemental EIDL grants.

If you live in NYC there’s also the program in the OP, and the NYS grant that you qualify for.
So I apply for EIDL then I will get offer for 10k and 5k grant?
"If you live in NYC there’s also the program in the OP"  What's this?

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Re: NY Small Business Grant Program
« Reply #49 on: December 09, 2021, 07:20:38 PM »
Where is the nyc link? is the nyc only in lower income areas?
If I didn't have a schedule c in 2020 would that be a problem?
See a few posts unlink. Yes, it's only in low-income areas, same as with the EIDL grant.

You have to certify that you're currently operational, so if you won't have one for 2021 either, that's problematic.

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Re: NY Small Business Grant Program
« Reply #50 on: December 09, 2021, 07:21:14 PM »
so NYC doesn't pull transcripts, but NYC does? or NYC doesn't but can change and start?
They both don't right now, but who knows what's happen...

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Re: NY Small Business Grant Program
« Reply #51 on: December 09, 2021, 11:24:25 PM »
Where on the tax returns do I grab the gross sales?

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Re: NY Small Business Grant Program
« Reply #52 on: December 09, 2021, 11:25:52 PM »
if in overall total I earned more sales in 2020 than in 2019, but just in the 2nd quarter I earned 25% less  - am I eligible for the NYS  grant?
@cgr

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Re: NY Small Business Grant Program
« Reply #53 on: December 10, 2021, 12:04:50 AM »
DO I need to answer yes on the question "Will this grant create new jobs?"

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Re: NY Small Business Grant Program
« Reply #54 on: December 10, 2021, 08:11:33 AM »
Where on the tax returns do I grab the gross sales?
Depends on the return type but usually line 1

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Re: NY Small Business Grant Program
« Reply #55 on: December 10, 2021, 08:13:50 AM »
if in overall total I earned more sales in 2020 than in 2019, but just in the 2nd quarter I earned 25% less  - am I eligible for the NYS  grant?
@cgr
The application is still very messed up and I'm hopeful they'll fix it over the next few days (along with the FAQs) but based on a call I had the answer is yes.
My understanding was that when they ask for the annual 2019/2020 amounts on the application the quarterly should be inputted- same goes for the yes/no question about the reduction.

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Re: NY Small Business Grant Program
« Reply #56 on: December 10, 2021, 08:14:21 AM »
DO I need to answer yes on the question "Will this grant create new jobs?"
If it will the answer is yes. If it won't the answer is no.

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Re: NY Small Business Grant Program
« Reply #57 on: December 10, 2021, 10:50:01 AM »
The application is still very messed up and I'm hopeful they'll fix it over the next few days (along with the FAQs) but based on a call I had the answer is yes.
My understanding was that when they ask for the annual 2019/2020 amounts on the application the quarterly should be inputted- same goes for the yes/no question about the reduction.

Just to confirm, also for the State program or just the city?

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Re: NY Small Business Grant Program
« Reply #58 on: December 10, 2021, 11:26:14 AM »
If it will the answer is yes. If it won't the answer is no.
If the answer is no will the application be denied?
« Last Edit: December 10, 2021, 11:49:11 AM by oldguy »

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Re: NY Small Business Grant Program
« Reply #59 on: December 10, 2021, 11:47:03 AM »
Just to confirm, also for the State program or just the city?
My comment is in reference to the city application.
The State requires a YoY 25% reduction.