Small Business Grants in New York (NY)

Securing a small business grant in New York involves understanding the various programs available, their eligibility criteria, and the application process. Here are some of the most relevant opportunities for small businesses in New York:

Empire State Development (ESD) Programs
ESD offers a variety of funds, loans, grants, and other financial incentives to support and encourage business growth in New York. Some of the programs include the New York Ventures, which provides financial capital to early-stage technology-based businesses, and the Linked Deposit Program, which is especially beneficial for leading-edge businesses and manufacturing companies looking to make significant capital investments.

Global NY Fund Grant Program
This grant is sponsored by Empire State Development to help businesses and nonprofits start or increase their operations. For small businesses, the Global NY fund will reimburse 50% of your total project costs up to $25,000. Eligible businesses are those in New York that bring in between $5,000 and $1 million in annual revenue and have been in operation for at least six months.

New York State Seed Funding Grant Program
This program offers grants of up to $25,000 for viable small businesses that started on or after September 1, 2018. It is specifically for businesses that did not qualify for assistance under the Pandemic Small Business Recovery Grant Program.

New York State Small Business Credit Initiative (SSBCI)
New York State has been awarded more than $500 million in federal SSBCI funding to help small, and traditionally disadvantaged, businesses succeed, with a focus on post-pandemic recovery.

New York Forward Loan Fund 2
This program offers up to $150,000 in funding for small businesses.

New York StartUP! Business Plan Competition
This competition offers up to $15,000 for the best business plan. The deadline for application is January 31.

New York State COVID-19 Pandemic Small Business Recovery Grant Program
Although this program is currently closed, it provided funding to small and micro businesses affected by the pandemic. Eligible applicants must have had 2019 or 2020 annual gross receipts between $25,000 and $2,500,000 and have 100 employees or fewer.

New York Small Business Grants
In New York, some small business grants are given to business owners to start and grow their ventures, and grant recipients do not have to pay back the funding from the government.

To apply for these grants, you typically need to prepare a detailed business plan, complete the application form, and provide any requested documentation, such as financial statements or tax returns. It’s also important to note that competition for these grants can be intense, so it’s crucial to submit a compelling application that clearly demonstrates the potential of your business.