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Program Overview - Eligibility

Small Businesses

Resident in New York State, incorporated in New York State and licensed or registered to do business in New York State,

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Is independently owned and operated, not dominant in its field​

100 or less employees​

Micro Businesses

Resident in New York State, incorporated in New York State and licensed or registered to do business in New York State,

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is independently owned and operated, not dominant in its field​

10 or less employees​

For-profit independent arts and cultural organizations

Small or medium sized private for-profit, independently operated live-performance venue, promoter, production company, or performance-related business located in New York State negatively impacted by COVID-19 health and safety protocols,​

may include businesses engaged in a field including, but not limited to, architecture, dance, design, film, music, theater, opera, media, literature, museum activities, visual arts, folk arts and casting​

100 or less full-time employees, excluding seasonal employees.

ELIGIBILITY

Eligible Business Qualifications

Small businesses, Micro-businesses, and For-profit independent arts and cultural organizations (collectively, “Eligible Applicants”) must be currently viable and have begun operation on or before March 1, 2019, and continue to be in operation as of the date of application (maybe shuttered due to COVID restrictions). See the FAQ section below for definitions of business categories above.​​

Eligible Applicants will be required to show loss of gross receipts as a result of the COVID-19 pandemic or compliance with COVID-19 health and safety protocols which resulted in business modifications, interruptions, or closures.​​

Small businesses and Micro-businesses must:

1. Have 2019 or 2020 Gross Receipts of between $25,000 and $2,500,000 [UPDATED 08.25.21] per annum

  • line 1a, IRS Form 1120 or 1065;
  • line 1, IRS Form 1040 Schedule C
  • sum of line 1a + line 2, IRS Form 1040 Schedule F

2. Demonstrate positive net profit on 2019 Business Return ($1 or greater)

  • line 28, IRS Form 1120 (line 21, IRS Form 1120S);
  • line 22, IRS Form 1065; or
  • line 31, IRS Form 1040 Schedule C; or
  • line 34, IRS Form 1040 Schedule F

3. Demonstrate at least a twenty-five percent (25%) loss in annual gross receipts in a year-to-year revenue comparison as of December 31, 2020 to the same period in 2019, in each case, as reflected on Grantee’s 2019 and 2020 filed federal tax returns, including any 2020 Pandemic Unemployment Assistance, Federal Pandemic Unemployment [UPDATED 08.25.21].

  • Loss to be calculated based on the difference between line 1a on IRS Form 1120 or 1065 (line 1 on IRS Form 1040 Schedule C), or the sum of line 1a + line 2 on IRS Form 1040 Schedule F reported on 2019 federal tax return and line 1a on IRS Form 1120 or 1065 (line 1 on IRS Form 1040 Schedule C), or the sum of line 1a + line 2 on IRS Form 1040 Schedule F reported on the 2020 federal tax return (in each case covering the same period). The calculated value must show a reduction of 25% year over year. Businesses with a partial tax year in 2019 will calculate a 25% loss based on the comparable number of months in 2020.

    • 4. Demonstrate that the total business expenses on the 2020 business income return are greater than the grant amounts.

  • Total expenses calculation versus proposed grant amount will be based on business expenses reported on 2020 federal tax return submitted by the applicant.

    • 5. Not have qualified 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.

  • Eligible Applicants may have received or been awarded the following federal assistance:
  • Paycheck Protection Program loans totaling $250,000 [UPDATED ON 08.25.21] or less.
  • COVID-19 EIDL Advance Grant of $10,000 or less.
  • COVID-19 EIDL Supplemental Targeted Advance Grant of $5,000 or less.
  • SBA Shuttered Venue Operator Grant.

    • Ineligible Businesses

  • All Non-Profits, Churches and other religious institutions
  • Government-owned entities or elected official offices
  • Businesses primarily engaged in political or lobbying activities
  • Businesses that received awards from the SBA Restaurant Revitalization Grant Program
  • Landlords and passive real estate businesses
  • Illegal businesses or enterprises
  • Other industry or business types as specified by Empire State Development

    • Eligible Use of Grant Funds

    The grants must be used for COVID-19 related losses or expenses incurred between March 1, 2020 and April 1, 2021.

    These include:
  • Payroll costs
  • Commercial rent or mortgage payments for NYS-based property (but not any rent or mortgage prepayments)
  • Payment of local property or school taxes associated with a small business location in NYS
  • Insurance costs
  • Utility costs
  • Costs of personal protection equipment (PPE) necessary to protect worker and consumer health and safety
  • Heating, ventilation, and air conditioning (HVAC) costs
  • Other machinery or equipment costs
  • Supplies and materials necessary for compliance with COVID-19 health and safety protocols
  • Other documented COVID-19 costs as approved by Empire State Development

    • Ineligible Uses of Funds

  • Grants awarded under the program may not be used to re-pay or pay down any portion of a loan obtained through a federal COVID-19 relief package for business assistance or any New York State business assistance programs.

    • Additional Information

  • Eligible Applicants must provide evidence, acceptable to New York State that the Eligible Applicant is operational and that the Eligible Applicant is not restricted by any state, local or other agency mandate.
  • Due to a limited amount of funding and the high volume of requests expected, your business type, geography and industry may factor into your ability to receive a grant.
  • Priority will be given to socially and economically disadvantaged business owners including, but not limited to, people with disabilities, service-disabled veteran-owned businesses, and veteran-owned businesses, or businesses located in communities that were economically distressed prior to March 1, 2020, as determined by the most recent Census data.

    • Grant awards will be calculated based on a Business’ Annual Gross Receipts for 2019

    Have 2019 or 2020 Gross Receipts of between $25,000 and $500,000 per annum

    • line 1a, IRS Form 1120 or 1065;​
    • line 1, IRS Form 1040 Schedule C.

    Demonstrate positive net profit on 2019 Business Return ($1 or greater)

    • line 28, IRS Form 1120; line 22, IRS Form 1065; or​
    • line 31, IRS Form 1040 Schedule C.

    Demonstrate at least 25% loss in Annual Gross Receipts in a year-to-year gross receipt comparison as of December 31, 2020 to the same period in 2019. ​

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    Annual Gross Receipts (2019) Grants Amounts
    $25,000-$49,999 $5,000 per Business
    $50,000-$99,999 $10,000 per Business​
    $100,000-$2,500,000 10% of gross receipts(up to $50,000)​

    For more information click here

    www.nysmallbusinessrecovery.com