New York State recently opened up applications for the Small Business Seed Funding Grant program which aims to provide grant funding to early stage small and micro businesses and for-profit independent arts and cultural organizations impacted by the COVID-19 pandemic.
The following business qualifications must be met:
- A business that was started on September 1, 2018 or later and have been operational for at least six months before an application is submitted.
- Be in substantial compliance with applicable federal, state and local laws, regulations, codes and requirements;
- Gross receipts are between $5,000 - $1,000,000
- Not owe any federal, state, or local taxes, or have an approved repayment, deferral plan, or agreement with appropriate federal, state and local taxing authorities.
- Eligible Applicants may have received or been awarded the following federal assistance:
- Paycheck Protection Program loans totaling $250,000 or less.
- Economic Injury Disaster Loan (EIDL) for COVID-19 of any size.
- COVID-19 EIDL Advance Grant of any size.
- COVID-19 EIDL Supplemental Targeted Advance Grant of any size.
- SBA Shuttered Venue Operators Grant of any size.
- Restaurant Revitalization Fund Grant of any size.
Grant amounts will vary from $5,000 - $25,000.
Important: This NYS Grant website indicates the new deadline for this grant is:
SEPTEMBER 30TH,2022. ADDITIONALLY, Diapoules & Feinstein CPAs P.C. WILL NOT be preparing any applications for our clients as this grant program requires individuals alone are responsible for filling out and submitting their application along with a ID Selfie Verification.
If your business is eligible for this grant and you decide to apply D&F is more than happy to provide the necessary tax information you may need during your application process.
Please contact us with any questions or concerns you may have.
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