Which Businesses Are Not Eligible
- Religious institutions are not eligible for this grant such as churches, non-profit organizations, etc.
- Federal Offices i.e. Government Offices.
- Businesses that are under political influences.
- Businesses received funds from Small Business Administration Programs.
- Big enterprises including landlords.
- Businesses that are not registered or are illegal.
The above-listed businesses and entities are not eligible to apply for the New York State Covid-19 Pandemic Small Business Recovery Program.
Don’t Forget To Form Your New Business
Once you’ve decided to set up a new company, the most important next step is to form your business.Most small businesses set up as an LLC .
This keeps all your assets separate from the company, limiting your personal liability, while giving the pass-through tax benefits of being a sole proprietor.
The process of forming your company can be really simple. Incfile can handle everything for you for $0 – all you pay is any state fees. Form your company for $0 now at Incfile.
New York City And Downstate Area Assistance Programs For Minorities Immigrants Women And Others
Citizens Committee for New York City provides microgrants of up to $10,000. The financial assistance can be used for payroll, rent, and other business operations. The non-profit focuses on helping Black, Indigenous, and People of Color owned businesses as well as immigrant, Asian, and women owned companies in NYC. They also work with other lenders, such as Wells Fargo, to provide capital. Continue reading.
Grameen America provides capital to women with a focus on those from disadvantaged communities and parts of NYC. They provide small microloans to help women start and grow a business, with a goal of females getting the capital they need. The loans may be interest free and combined with coaching, workshops and other support. More details here.
Harlem Commonwealth Council helps Black Owned businesses in Harlem. They offer low cost microloans, run a Business Solution Center, operate a learning lab and adult education center, minority certification programs and more. The goal is to help the Black community launch and/or grow a business. The Harlem Entrepreneurial Fund is a small dollar loan/financial help that can be a form of Capital. Get details here.
Also Check: Bank Of America Grant Program
Small Business Grants: Here Are 32 You Can Apply For In 2022
Written by Dale Cudmore
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Who doesnt like free money? Thats what small business grants are, right?
It could help you pay salaries, buy stock, or reach new customers.
While grants are free in the sense that you dont have to pay them back, theyre not handouts.
You cant just go to a website and ask for 1 small business grant please, and expect to get one.
In all cases, you need to apply for a grant, which can take a decent amount of work and effort. Then, youre up against other small businesses that also want the grant. Its common for even small grants to get hundreds of applicants.
If you understand that, and that theres no guarantee to get a grant, your head is in the right place.
Ive compiled a list of 32 small business grants that you may be able to apply for on this page, but before I get to that, there are 3 more things you should understand:
State And Regional Small Business Grants
Economic Development Administration: The EDA focuses on providing funding and resources for small businesses across the U.S in order to stimulate job growth and build durable regional economies throughout the nation. Based on the principle that sustainable economic development should be locally-driven, EDA works directly with communities and regions to help meet their needs. You can contact your regional office for more information here.
Small Business Development Centers: Small Business Development Centers, located in every state, provide assistance to small businesses including start-ups and companies looking to expand. SBDCs can help connect you with grants, financing opportunities, counseling, training, technical assistance and more. You can look up your local SBDC by zip code here.
Minority Business Development Agency Centers: The MBDA is the only federal agency solely dedicated to assisting minority businesses. With a national network of centers, the MBDA offers programs that include customized business development and industry-focused services. Their clients are U.S. Minority Business Enterprises owned and operated by: African Americans, Asian Americans, Hasidic Jews, Hispanic Americans, Native Americans, and Pacific Islanders. You can search for the center nearest to you on their website.
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Western New York Mwbe Programs
Beverly Gray Business Exchange Center, which is based in Buffalo and serves small businesses in Erie County, is a resource. The help businesses that are veteran owned as well as M/WBE, or Women and Minority companies. There is help with financing , certification as M/WBE, startup help and other services. Erie County, Niagara County, and other western NY regions are supported too. Apply here.
Buffalo Womens Business Center helps female, women veteran, and minority women . There are certification programs, free mentoring and coaching programs, information on fundraising from grants or loans and so much more. Networking is also offered, and they help female entrepreneurs create and launch a business too. Continue reading here.
LISC of Western NY provides help in the Buffalo area, Niagara Falls and surrounding communities. They will, from time to time, provide free grants to Black owned businesses, including women, as well as other minorities. Or get loans, free counseling or coaching services, wealth building programs and so much more. The non-profit helps people from disadvantaged areas start businesses and/or gain stability. Find details on the lender here.
New York Free Grants And Loans For Minority And Women Owned Businesses 2022
Find where and how to get free grants or loans for your business below. There are funds allocated to women, Latino, LGBTQ, Black, and other minority owned businesses in New York . Small business owners, entrepreneurs, and start up companies may be able to get financing from a number of lenders. Find programs from lenders, corporations, banks, non-profits and other agencies that may be near you.
The loans and/or grants for calendar year 2022 are for any small to medium sized business that meets the lenders application criteria. However each of the programs listed below will allocate some of the funds to women and/or minority owned businesses in New York state. Not only may capital be given to the small business owner, including MWBE and BIPOC, but the organizations also give other support. This may include, but is not limited too, free mentoring, technical support, help creating business plans, networking advice and so much more. All of this assistance will be free.
There are business loans and free grants across the state. There are options in the New York City area as well as major citizens of Rochester, Buffalo, Syracuse, and other cities or towns. Minority owned as well as women and veteran can apply for financial aid and counseling from an agency near them.
Also Check: Grants To Build Affordable Housing
Broadway Fillmore Downtown Revitalization Initiative
The Downtown Revitalization Initiative is a comprehensive approach to boosting local economies by transforming communities into vibrant neighborhoods where the next generation of New Yorkers will want to live, work, and raise a family. In its fifth year, the program is investing $200 million across the state, or $20 million in each region. The downtown districts that receive the funding are chosen by each of the State’s 10 Regional Economic Development Councils .
The City of Buffalo is one of the two winners in Western New York and has been awarded $10M towards improvements that will help transform the Broadway-Fillmore neighborhood. With technical assistance provided by the State and guidance from a local planning committee and the public, the City of Buffalo will develop a Strategic Investment Plan that identifies specific projects that align with a unique vision for revitalization of the downtown area. This website contains the information, documents, and announcements about the DRI as they become available throughout the process.
For upcoming events and more information please visit broadwayfillmoredri.com
How To Apply And Win Business Grants
As Ive mentioned, there can be a lot of competition for grants. There is often hundreds of small businesses applying for a single grant.
Its something you need to take seriously if you expect to win.
In this section, Ill go over the most important things to do to improve your chances of winning grants.
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Nys Offers $1b In Grants Relief For Small Business
Adina Genn
Financial relief by way of grants is available for small business owners in New York State. This is all thanks to the $1 billion in small business pandemic relief programs for minority and women owned businesses, entrepreneur mentorship and more.
On Monday, Anna Kaplan, chair of New York State Senate Committee on Commerce, Economic Development, and Small Business, spoke about the grants and relief for small businesses in the recently enacted state budget.
Now, the state is seeking to form grassroots partnerships to help get these resources into the community through trusted messengers.
The pandemic has been devastating to New Yorks small business community, and they need our help if theyre going to survive these challenging times, Kaplan said in a statement. Im proud to have fought to bring back over a billion dollars in grants and other assistance for our small businesses in the State budget, and as the program rolls out statewide, I encourage every small business owner to apply for the assistance they need and deserve.
Local businesses are working to build back from the impact of coronavirus regulations, Eric Alexander, director of Vision Long Island and Long Island Main Street Alliance, said in a statement. These grants available from New York State can begin to level the playing field as we work towards a recovery that helps our local communities.
West New York Launches Small Business Grant Program
The program aims to provide a helping hand following the devastation of COVID-19
West New York has launched a grant program to support small businesses. The town will accept applications through June 3 for their Small Business Grant Program. Awards of up to $5,000 per business may be granted.
Do you qualify?
In order to qualify, businesses must be owned by an individual, partnership, corporation, or limited liability company that is up-to-date with all federal and state payroll, sales, and income taxes must be located in West New York and registered with NJ Department of Treasury and have no more than 25 full time employees.
Applicants must also be able to certify that their business was negatively impacted by COVID-19 because of partial closure, full closure, or major disruption to business operations. The business must also be open at the time of application and make a good faith effort to remain so for at least 12 months after grant receipt.
Applicants must also disclose whether they have previously received COVID-19 relief funds from any other county, state, federal, or private sector program. Non-profit organizations, real estate holding companies, home-based businesses and businesses behind on their federal tax payments are not eligible for this grant.
For more information on the program or to apply, small business can call 201-295-5100
Helping small businesses in wake of COVID-19
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California Small Business Grants
California Dream Fund: Run in coordination with the Governors Office of Business and Economic Development and the Office of the Small Business Advocate , the California Dream Fund helps ensure all aspiring and current small business owners and entrepreneurs have the opportunity to access funding, markets, and connect to the networks and resources they need to succeed. After completing an intensive training and consulting program, new businesses will be eligible to apply for a micro-grant up to $10,000. You can view all participating centers and access an interactive map here.
Oakland Black Business Fund: This organization provides grants for Black-owned small businesses located in Oakland, CA. The grants are provided through a network of core service providers and professional partners. You can apply here.
Founders First Job Creators Quest Grant: Founders First is an organization dedicated to increasing the number of premium-wage jobs. A total of $100,000 will be awarded to 30 small businesses in Southern California in order to spur growth in the workforce. To qualify, your business must be located in the Los Angeles, Orange County, Riverside, San Bernardino, Imperial, or San Diego regions and have a current staff of 2-20 employees, and be a for-profit company with annual revenues between $100k and $3 million. Your company must also identify as one of the following: woman, military/veteran, Latinx, Black, Asian, LGBTQIA+ or be located in a low-to-moderate income area.
Corporate Small Business Grants
National Association for the Self-Employed : NASE is the largest nonprofit, nonpartisan association of its kind in the U.S. They help support entrepreneurs and microbusinesses through funding, benefits, and training that have typically only been available to large corporations. Only members of NASE can apply for small business grants up to $4,000, and please note that their membership is fee-based. The grants are awarded throughout the year. The next round of grant applications will be reviewed in October.
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What Type Of Credit Do You Need To Get A Grant
However, youll likely need decent credit to get your business up and running in the first place before you can even apply for most grants.
Additionally, most grants require that your small business be in good financial standing, meaning that you dont have any unreasonable debt that cant realistically be paid back.
New York Foundation Grant
Amount of Grant: $40,000Deadline: March 1, July 1To 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.
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New York Government Grants
The U.S. government and New York’s office of finance has set aside $62,419.00 million dollars in government grants and $52,183.00 million dollars in other types of government financial assistance for permanent residents who reside in the state of New York. As long as you have a citizenship card or a permanent resident certificate, you could be eligible to apply and receive New York government grants.
Government funding in New York is distributed to various sectors, with the majority of the budget in business, education , housing, veteran, and personal grants.
New York State Biodefense Commercialization Fund
New York State offers $40 million in grant funds to startups and academic centers working on certain biodefense initiatives. Specifically, funds may be used to develop solutions for serious infectious disease threats, including vaccines, therapeutics, and diagnostic tools. Organizations can use funds to hire, fast track intellectual property, or expand availability of viable treatments.
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Ineligible Businesses For New York Small Business Recovery Grants
Certain business types are ineligible for the grants, including non-profits, churches, or religious institutions. Businesses or entities that are owned by the government, offices of elected officials, and businesses engaged in lobbying or political activities are also ineligible. Landlords and passive real estate businesses cannot apply, and neither can illegal businesses. Other business types or industries may be deemed ineligible as specified by Empire State Development .
Youll need to make sure you dont owe any federal, state, or local taxes prior to July 15, 2020 . And you must be in substantial compliance with applicable laws, regulations, codes, and requirements for local, state, and federal codes.
New York Startup Business Plan Competition
Amount of Grant: Up to $15,000Deadline: January 31Entrants into the New York StartUP! 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 startupsyour business must have earned less than $10,000.
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Dos And Donts Of Winning Business Grants
Lets start with some basic dos and donts of trying to win grants.
- Make a schedule Many grants are only open to applications once a year. Schedule time to put together an application ahead of time.
- Write a business plan first Most grants ask for a business plan. More importantly, you should know how exactly the grant money will help your business. Heres our guide to writing a simple business plan.
- See what companies have been funded in the past This can help you determine which grants you have a good chance of winning. If they funded similar types of businesses, thats a good sign.
- Get help from local business organizations I went through many types of local business organizations that provide assistance to small business owners. This includes helping you find grant opportunities and presenting your business in the best light.
- Consider professional help If you come across a grant that requires a well-written cover letter or essay, consider hiring a professional freelance grant writer if you can afford it.
Dont: