Governor Kathy Hochul announced that small businesses with annual revenues up to $2.5 million can now apply for the Small Business Recovery Grant program. This is an increase from the previous threshold of $500,000.
This grant funding is designed to help small businesses that did not qualify for business grant assistance programs under the federal American Rescue Plan Act of 2021 or any other available federal COVID-19 economic recovery or business assistance grant programs, including loans forgiven under the federal Paycheck Protection Program, or are unable to obtain sufficient business assistance from such federal programs.
Applications for the New York State Small Business Recovery Grant are still being accepted. You can apply at: https://nysmallbusinessrecovery.com
The list of documents needed for the application to be reviewed can be found at: https://nysmallbusinessrecovery.com
See earlier COVID-19 updates at www.schenectadymetroplex.org.