As Chair of the Small Business Committee, I’ve fought hard for small businesses to get the relief they deserve since the pandemic began, and I’m excited to share with you that The New York State Seed Funding Grant Program is now taking applications. If you own a viable small business that started on or after September 1, 2018, then you may qualify for a grant of up to $25,000.
The Seed Grant program is new, and specifically for businesses that did not qualify for assistance under the Pandemic Small Business Recovery Grant Program, which itself recently expanded its eligibility. The Pandemic Small Business Recovery Grant Program will be closing for good 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 time runs out.
Here are a few frequently asked questions about the new Seed Grant program:
What is it?
A $200 million grant program designed to help early-stage 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 following my advocacy.
Is this another loan that I have to pay back?
NO, you don’t have to pay back a cent of what you get. This is a grant program, and qualifying small businesses are eligible for grants between $5,000-$25,000 depending on how big your business is.
How do I know if I qualify?
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 do I apply, or go to learn more information?
Visit nyseedgrant.com today to find out more and apply.
Are there other NYS Small Business initiatives that I might benefit from?
YES, there are a number of helpful small business support programs run by the State of New York that might be a good fit for your situation. Visit the Business Pandemic Recovery Initiative website to learn more.
Is there anyone who can help me with this process?
YES, and it doesn’t cost anything 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’re a great resource to help you with any question you have about these grants, or any other small business issue. And their services are always FREE.
As always, If I can be of assistance to you and your small business with this, or any other matter, please don’t hesitate to contact me at 516-746-5924 or [email protected]
Thank you for allowing me the privilege of being your Senator.