- June 11, 2021
- Posted by: Stratford Team
- Category: Business
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Dive Brief:
- New York will launch an $800 million COVID-19 Pandemic Small Business Recovery Grant Program Thursday that provides funding to small and micro businesses that have experienced a 25% year-over-year loss of gross receipts due to COVID-19 disruption. The grants can be used for a variety of expenses, including payroll, rent, utilities, PPE and other costs incurred between March 1, 2020 and April 1, 2021.
- Businesses can have no more than 100 employees and must have begun operating on or before March 1, 2019 to receive a grant. Businesses do not qualify if they have received money from the Restaurant Revitalization Fund, but are still eligible if they received loans of $100,000 or less through the Paycheck Protection Program.
- Grants offered are $5,000, $10,000 or 10% of gross receipts (maxing out at $50,000) depending on a business’s annual gross receipts. This cash infusion could be especially helpful for New York…
