NYC Small Business Resilience Grant: Let’s Recover Our City’s businesses
Written by Ahad&Co
Recently, a piece of big good news has been going around New York!
We all heard about the New York State Covid-19 Pandemic Small Recovery Grant Program. This was formed to provide flexible grant assistance to the businesses that faced financial hardship during the pandemic. But what is new in this? Because now the amount has been increased to $10,000 this time! But before applying, a few aspects of this grant need to be acknowledged to make the process easier for you.
Hence, we present you with yet another piece of writing where you will find the answer to all your queries about the NYC Small Business Resilience Grant.
Are you eligible for this?
Before you apply for this grant, you must know if you are qualified for this or not –
- Your business needs to be inside New York City.
- Meet the criteria of a “small business” (i.e., you have 500 or fewer employees, or, if applicable, the size standard in several employees established by the U.S. Small Business Administration administrator)
- Be at least one or both of the following:
- Small businesses that at least 50% of their revenue is generated from activities that are defined by the North American Industry Classification System (NAICS) as part of the Arts, Entertainment, and Recreation sector, or the Accommodation and Food Services sector.
- Small businesses that physically operate from a low-to-moderate census tract as defined by the United States Department of Housing and Urban Development.
- Be in operation since October 1, 2019, and in function at the time of submission of the application
- Income needs to be reduced by 25%
- Be current or in repayment on all Federal, State, and City taxes
To apply for the grant, eligible Small Business owners must:
- Step 1: Complete an online application
- Step 2: Submit the required documentation via the online portal
- Step 3: Monitor their email for additional information and requests regarding their application for the NYC Small Business Resilience Grant.
Contact us to get connected with us. Our skilled & professional team will take your stress & will do whatever it takes.
How can you make use of this money?
This money can be used for your business’s rent, utility, operating cost, or whatever payment you have daily. The most important thing is, you do not have to give this back. So, you are free to even invest back in your business without the worry of returning it.
The City Wants Everyone to Recover
The city wants everyone to be held back and move with an even bigger force. And hence, the application for this grant has already begun and will continue till the end of this month. But as we know, the stock is limited. Hence, you have more chances to get it as soon as you apply. And you will get approved through email.
NYC small business recovery grant is a once-in-a-lifetime opportunity for all the New Yorkers who are struggling to revive their business once again. To ensure that all the companies get their due help, the accountants are providing all the possible assistance.
Ahad&Co are no different. We have our very own in-house experts who have helped businesses around New York with all sorts of accounting-related matters.
So, for any kind of assistance regarding this grant, feel free to reach out Ahad&Co.