Third Avenue Business Improvement District - Missed out on COVID-19 Relief? Apply.

 

Governor Hochul Announces Launch of New York's First-in-the-Nation $200 Million Seed Funding Grant for Early-stage Businesses Impacted by Covid-19

Governor Kathy Hochul today announced that the applications portal for the first-in-the-nation Seed Funding Grant Program, created as part of the FY2023 budget, will open on September 14. The program provides flexible grants to support early stage, micro and small businesses in a still recovering New York State 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. This program builds upon New York State's existing $800 million Pandemic Small Business Recovery Grant Program, which has delivered more than $639 million to over 35,000 small businesses since it launched last year, with ninety percent of funding having gone to minority and women-owned businesses. Starting today, Empire State Development will expand eligibility for the program, enabling more small businesses to access funding by removing the requirement that businesses show a twenty-five percent loss in annual gross receipts from 2019 to 2020. This expansion of eligibility comes in addition to previous program changes to profitability requirements and revenue thresholds, aimed at serving additional small businesses. The program, which will continue to process applications currently in the pipeline, will close as funding winds down on September 30, 2022.

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