New York state is now accepting applications from small businesses that would like to get a piece of the $800 million the state is offering as reimbursements for Covid-related expenses.
The money is being released through the state’s Pandemic Small Business Recovery Grant Program, which offers grants to small and micro businesses as well as for-profit cultural and arts organizations. The grants range from $5,000 to $50,000.
The state believes that up to 330,000 small and micro businesses may be eligible for the money.
In announcing that a website has been launched where applications can be submitted, Gov. Andrew M. Cuomo said, “Small businesses are one of the most critical components of New York’s economy and were disproportionately impacted by the economic devastation resulting from the Covid-19 pandemic. This program will help these small businesses, particularly those with socially or economically disadvantaged owners, regain an economic foothold so they can forge ahead toward a brighter, more prosperous future.”
The website address is nysmallbusinessrecovery.com.
Priority will be given to those owned by the socially and economically disadvantaged as well as businesses that are owned by minorities, women and veterans. Also high on the list will be businesses in economically distressed communities.
The grants can be used to reimburse certain expenses that occurred from March 1, 2020 to April 1, 2021. Those include payroll; commercial rent or mortgage payments for property in New York state; local property or school taxes; insurance; utilities; machinery and equipment; personal protection equipment; supplies and materials needed to comply with Covid-19 health and safety protocols; heating, ventilation, and air conditioning; machinery and equipment.
While grant money may be taxable at the federal, state and local levels, Cuomo has proposed legislation to waive New York taxes on money from the pandemic grant program.
