Apply For New York COVID-19 Small Business Recovery Grant ($15,000)
How To Apply For New York COVID-19 Small Business Recovery Grant
The post will help you apply for the New York stats COVID-19 Small Business Recovery Grant 2021.
If your business is badly affected by the covid-19 pandemic, there could be a remedy with the New York State COVID-19 Pandemic Small Business Recovery Grant Program
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The New York State COVID-19 Pandemic Small Business Recovery Grant Program is aimed at offering support to small businesses, micro-businesses, and for-profit independent arts and cultural organizations devasted by the covid-19 pandemic disaster
GRANT AMOUNTS
The grant will be disbursed based on your business Gross Profit for 2019 and the calculation will be based on the description below
Annual gross receipts: $25,000 – $49,999.99: Award is $5,000 / business
Annual gross receipts: $50,000 – $99,999.99: Award is $10,000 / business
Annual gross receipts: $100,000 – $2,500,000: Award is $15,000 / business
Eligibility- New York Covid-19 Small Business Recovery Grant
Eligible Business Qualifications:
Small businesses, Micro-businesses, and For-profit independent arts and cultural organizations
Your business has been existing before March 1, 2019
You Must present evidence of loss of business profit due to the covid-19 pandemic
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Small businesses and Micro-businesses must:
Have 2019 or 2020 Gross Receipts of between $25,000 and $2,500,000
Demonstrate positive net profit on 2019 Business Return ($1 or greater)
Demonstrate at least a twenty-five percent (25%) loss in annual gross receipts in a year-to-year revenue comparison as of December 31, 2020, to the same period in 2019
Not have qualified for business grant assistance programs under the federal American Rescue Plan Act of 2021
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Required Documents- New York Covid-19 Small Business Recovery Grant
PROOF OF GROSS RECEIPTS LOSS OR OTHER ECONOMIC HARDSHIP
For partnerships – including IRS Form 1065 and Schedule K-1
For sole proprietors – include IRS Form 1040 Schedule C
For sole proprietor farming businesses – include IRS Form 1040 Schedule F
Completed IRS Form 4506-C
2019 and 2020 Business Income Tax returns. Note: Full and complete, unaltered federal tax
returns for each year are required (including all schedules and statements).
For corporations and LLCs – include IRS Form 1120
PROOF OF BUSINESS ORGANIZATION
One of the following:
Certificate of Assumed Name (DBA)
NYS Certificate of Authority
Articles of Incorporation
NYS municipality issued document showing authorization to operate in NYS
Current Business License
Current Business Certificate
Certificate of Organization
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PROOF OF BUSINESS LOCATION AND CURRENT OPERATION
Two of the following documents:
Current business mortgage statement
Business credit card statement
Professional insurance bill
Payment processing statement
NYS ST-809 or ST-100 sales tax collection documentation.
Current lease
Utility bill
Current business bank statement
SCHEDULE OF OWNERSHIP
Listing of names, phone numbers, e-mails, percentage ownership, addresses, Social Security numbers (or, for non-US owners, Individual Taxpayer Identification Numbers), and photo ID for any owners with 20% or more ownership of the business.
PROOF OF NUMBER OF EMPLOYEES
Most recently submitted NYS-45 document for employer firms.
FOR FUNDS DISTRIBUTION
W-9 and bank account information
How To Apply