Governor Kathy Hochul opened a “seed funding” grant on September 14 to provide flexible grants to support early stage, micro and small businesses in a still recovering New York economy. The program will ensure that small businesses that opened shortly before or during the COVID-19 pandemic will have the funds to continue to operate and grow.
The new grant is designed to support businesses that started operations on or after Sept. 1, 2018 and have been operational for at least six months before an application is submitted. Applicants must have between $5,000 and $1 million in gross receipts per year as reflected on their most recent federal business tax return.
Awards for eligible businesses are based on their 2020 or 2021 tax returns. Businesses with gross receipts ranging from $5,000 to $49,999.99 can receive $5,000 per business.
For more information and to apply click here.