Seed Funding Grants for Small Businesses Now Available
As Chair of the Small Business Committee, I have fought hard to ensure that small businesses get the relief they deserve since the pandemic began, and I am delighted to share with you that The New York State Seed Funding Grant Program now accepting applications. If you have a viable small business that started on or after September 1, 2018, you may be eligible for a grant of up to $25,000.
The start-up grant program is new and is aimed specifically at businesses that did not qualify for assistance under the Small Business Pandemic Recovery Grant Program, which itself recently extended its eligibility. The Small Business Pandemic Recovery Grant Program will permanently close on September 30, 2022, and I urge all small business owners to visit nysmallbusinessrecovery.com as soon as possible to see if you qualify for this program before the time runs out.
Here are some frequently asked questions about the new seed grant program:
What is that?
A $200 million grant program designed to help start-up small businesses and promote our state’s economic recovery from the pandemic era. The program was included in this year’s New York State budget as a result of my advocacy.
Is it another loan that I have to repay?
NO, you don’t have to pay back a penny of what you get. This is a grant program, and eligible small businesses are eligible for grants between $5,000 and $25,000 depending on the size of your business.
How do I know if I am eligible?
Visit nyseedgrant.com/faq for detailed eligibility criteria.
What can I spend the grant money on?
Grants can be used for certain expenses incurred between September 1, 2018 and January 1, 2022. Eligible expenses include (but are not limited to) payroll costs, rent or mortgage payments, certain taxes, insurance costs, utility costs, HVAC costs, PPE expenses , and more.
Where can I apply or get more information?
Visit nyseedgrant.com today to learn more and apply.
Are there other NYS Small Business initiatives I could benefit from?
YES, There are a number of helpful small business support programs run by New York State that might be right for you. Visit the Pandemic Business Recovery Initiative website to learn more.
Is there anyone who can help me with this process?
YES, and it costs nothing to get help. Contact the Farmingdale Small Business Development Center, which serves all of Nassau County. Visit https://www.farmingdale.edu/small-business-development-center/ or call 934-420-2765. They are a great resource to help you with any questions you have about these grants, or any other small business issue. And their services are always FREE.
As always, if I can be of any help to you and your small business on this or any other matter, please don’t hesitate to contact me. at 516-746-5924 or [email protected]
Thank you for granting me the privilege of being your senator.