Of the 220,000 businesses located in NYC, 98% are classified as small, while 89% are very small. It’s no wonder there are both government and private entities providing small business grants in New York. We’ve compiled five New York-specific grants for you but be sure to check back often as new grants are continuously seeking new applicants. Grants are much healthier for your business when compared to NY business loans.
Global NY State Trade Expansion Program (STEP): The amount of grant is up to $6,000. There is no deadline; it’s an ongoing program. The Global NY State Trade Expansion Program provides grants to small businesses entering the export market. Funds can be used for virtual services, compliance testing, export training workshops, international marketing campaigns, foreign market sales trips and trade shows. Businesses at least a year old that manufacture, assemble and/or distribute a product or provide an exportable service can apply.
New York State COVID-19 Pandemic Small Business Recovery Grant Program: This is one of the most lucrative NY Government grants, with amounts reaching up to $50,000. It’s also an ongoing program with no filing deadline in place. The amount of grant you can get under the New York State COVID-19 Pandemic Small Business Recovery Grant Program depends on the gross receipts for 2021. Your business must have gross receipts of between $25,000 and $2,500,000. It must also have at least $1 of net profit on its 2021 Business Return. Businesses that received grant assistance through any federal COVID-19 economic recovery or business assistance grant programs are not eligible for this grant. This includes any company that received a Paycheck Protection Program (PPP) loan that was forgiven.
Global NY Fund Grant Program: Another ongoing grant program (deadline free), with amounts of the grant reaching up to $25,000. Global NY Fund Grant Program is another grant meant for increasing global exports. For-profit businesses can get up to $25,000, whereas non-profits can receive up to $100,000. It’s recommended applicants speak with an ESD Global NY Representative for guidance before applying. Otherwise, your application review and approval can be significantly delayed. Businesses can use the grant money for export workshops, product adaptations to meet foreign regulations, trade show participation and market customization.
New York StartUP! 2022 Business Plan Competition: The amount of the grant is up to $15,000. The deadline to file is January 31. Entrants into the New York StartUP! 2022 Business Plan Competition can win up to $15,000 to start their business. Plus, get access to invaluable business support and resources. You must live in Manhattan, The Bronx or Staten Island, and your business must be there too. This is for true startups—your business must have earned less than $10,000.
New York Foundation Grant: The amount of the grant is up to $40,000. There are two (2) filing deadlines each year, March 1 and July 1. To qualify for a New York Foundation Grant, you must first submit an initial funding request. Businesses that move to the next round are invited to submit a full proposal for funding. The foundation supports businesses located in NYC that address the critical needs of specific populations, such as youth or the elderly. Program staff also look for companies that work on advocacy and organizing communities.
Contact information: Sky Small Business Loans 630 5th Ave #8, New York, NY 10111 (212) 457-1581 https://skybusinessloans.com/manhattan-ny-branch/.