Governor Hochul has announced changes to the NYS COVID-19 Pandemic Small Business Recovery Grant Program making more small businesses eligible. Initially, the program focused on small and micro-businesses that were largely left out of federal business recovery initiatives. Initial eligibility criteria stipulated that small businesses with 2019 or 2020 gross receipts between $25,000 and $500,000 were eligible to apply for the grant. Now, NYS small businesses with 2019 or 2020 gross receipts between $25,000 and $2,500,000 are eligible to apply. Additionally, small businesses may have received Paycheck Protection Program loans totaling $250,000 or less and now qualify for the grant. Previously, small businesses that received Paycheck Protection Program loans of only up to $100,000 were eligible to apply. To learn more, click here.
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