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Small business grants of up to $50K now available

Small businesses on Long Island can now apply for grants of up to $50,000 from New York State’s COVID-19 Pandemic Small Business Recovery Grant Program.

Grants will be awarded to small and micro businesses and small for-profit independent arts and cultural organizations, with priority being given to socially and economically disadvantaged business owners, including minority- and women-owned business enterprises, service-disabled veteran-owned businesses and veteran-owned businesses, and businesses located in economically distressed communities.

Grant awards, which start at a minimum of $5,000, are calculated based on business’ annual gross receipts for 2019. Reimbursable COVID-19 related expenses must have been incurred between March 1, 2020 and April 1, 2021.

Those expenses covered by the grants can include payroll costs; commercial rent or mortgage payments; payment of local property or school taxes; insurance costs; utility costs; costs of personal protection equipment necessary to protect worker and consumer health and safety; heating, ventilation, and air conditioning costs; and machinery or equipment costs.

For more information or to apply visit www.nysmallbusinessrecovery.com

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Trade Winds is written by journalists from the Long Island business community.