The Department of Small Business Services (SBS) is awarding 20 small businesses up to $90,000 grants to help them thrive in New York City (NYC) through the second round of their Love your Local program.
“We’re dedicated to helping longstanding businesses navigate an ever-changing city because we recognize the valuable role of local businesses in our neighborhoods,” said Gregg Bishop, Commissioner of the Department of Small Business Services.
What are the grant prizes?
An in-depth assessment of your business
One-on-one business consultations
Grant of up to $90,000 to implement recommendations from experts
What are the qualifications for the grant?
To be considered for a Love Your Local Small Business Grant, applicants must, at least, meet the following criteria:
Must operate a commercial business
Must not be in violation of any applicable federal, state, or local law, rule or regulation
Food businesses subject to inspection by the NYC Department of Health and Mental Hygiene must have an A or B letter grade
Must have been operating in the City for a minimum of three (3) years prior to the date of the application
Must not operate a franchise, except franchises that the Small Business Administration has determined to be small businesses may be eligible
Must rent current location of operation from an entity or individual that is not affiliated with the applicant
Must not owe any federal, state or city taxes and must not be delinquent in payments owed to resolve judgement or liens
All required licenses or permits relating to the business must be current
Must document that it has experienced at least a 5% increase in costs directly related to operating in rented commercial space within the prior 10 years. Documentation may include, but need not be limited to: lease(s), utility bills, property tax bills, or cancelled checks, which reflect increased rental costs, an increased burden relating to payment of property taxes, or increased utility costs at its current location
When is the deadline?
The deadline to apply has been extended to February 3rd, 2019
How will SBS decide who wins the grant prizes?
You can learn more about how SBS will decide the winners here
How do I apply?
You can learn more about the Love Your Local program and apply for the grant here