Assemblyman Jones Encourages Small Business Owners to Apply for COVID-19 Recovery Grant Program
Assemblyman Billy Jones (D-Chateaugay Lake) is reminding small business owners to take advantage of the COVID-19 Pandemic Small Business Recovery Grant Program. He helped secure this program in the 2021-22 state budget to assist small businesses that were financially impacted by the pandemic. Jones also wants residents to be aware of the newly expanded eligibility requirements for the program to encourage more businesses to apply.
“Small businesses took a huge hit due to this pandemic and are still fighting tooth and nail to forge a path forward,” Jones said. “This grant program helps alleviate some of the burdens facing our hardworking business owners in the wake of this crisis, from helping to maintain their payroll to covering utility costs. Plus, thanks to Gov. Hochul’s updates to the program, more community members can now apply and benefit from this much-needed relief. Mom-and-pop shops are the backbone of the North Country’s economy, and I’ll do everything I can to help them recover and thrive.”
The $800 million COVID-19 Pandemic Small Business Recovery Grant Program supports small and micro businesses and small for-profit independent arts and cultural organizations that experienced a COVID-related financial hardship. The program specifically targets businesses that have insufficient access to resources. This includes micro-businesses, socially and economically disadvantaged business owners, minority- and women-owned businesses and small businesses that did not receive adequate federal COVID-19 funding.[1]
The program offers flexible grants of $5,000 to $50,000, with an average of $15,879. Grant funds can be used to cover business costs incurred throughout the pandemic, such as payroll, rent, mortgage, property and school taxes, insurance, utilities and pandemic-related expenses to protect workers and customers. As of Sept. 2021, the program has awarded $190 million to 11,995 small businesses across the state.[2]
Governor Hochul recently made changes to the program to allow more small businesses to apply for funding. The revenue threshold for businesses was increased from $500,000 to $2.5 million and the limitation for businesses that received Federal Paycheck Protection Program (PPP) loans has been increased from $100,000 to $250,000.[3]
Jones urges all small business owners who think they might be eligible to apply for the program at nysmallbusinessrecovery.com.
[2] Ibid.