COVID-Hit NYC Small Businesses Can Grab $10K Grants

NEW YORK CITY — A $10,000 lifeline for New York City small business affected by the coronavirus pandemic is an easy application away.

This week, the city's Small Business Services launched a $100 million grant program for a wide swath of mom-and-pops across the five boroughs.

They can use the money for payrolls, benefits, mortgage, rent, utilities and other operating costs — all of which became difficult for small businesses to pay during the pandemic.

“Small businesses need financial assistance as quickly as possible, which is why we’ve made the application for this new $10,000 grant available in 11 languages and are working with our many community partners to get the word out to the areas most impacted by COVID-19,” said Jonnel Doris, the commissioner for Small Business Services. “I’m urging all small businesses to check your eligibility on the map and get your applications in now at covidresilience.nyc – the process is quick and easy.”

Vacancies in storefronts across New York City ballooned after COVID-19 struck. Some experts warned that a "cascading crisis" of small business closures leading to wider could happen without significant governmental help.

But federal stimulus measures, including a $1.9 trillion coronavirus relief package, have assuaged some of those fears.

State and city officials are using buoyed budgets to help fund aid measures to help on everything from foreclosures to taxi medallion loans.

The program announced this week — officially called the NYC Small Business Resilience Grant — is open to businesses in arts, entertainment, recreation, accommodation, and food sectors or located in an officially designated low- to moderate-income neighborhood.

Businesses must have been operating before Oct. 1, 2019 and lost revenue between 2019 and 2020.

They also must not have received a federal grant from the Shuttered Venues Operators Grant program or the Restaurant Revitalization Fund.

“Small businesses served New Yorkers tirelessly throughout the pandemic—they are the backbone of our economy and the heart of New York City,” Mayor Bill de Blasio said in a statement. “This historic investment will ensure the hardest-hit small businesses have the support needed to emerge stronger from the pandemic and help build a recovery for all of us.”

Businesses can learn more at covidresilience.nyc. Grant applications have been open since Dec. 8.