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Tuesday, July 3, 2018

20 Small Businesses Will Share The $1.8 Million Grants From NYC Love Your Local Program

20 Businesses Will Share $1.8 Million Grants From NYC Love Your Local Program

The Department of Small Business Services has launched a program called Love Your Local that will help small local businesses continue providing jobs, goods, and services that make the neighborhood vibrant. Aside from cash grants, winners will also receive free consultation about their business. Applications are due on July 17th, 2018.

Who can apply?
  • Applicants must operate a commercial business
  • Must not be in violation of any applicable federal, state, or local law, rule or regulation
  • Food businesses subject to inspection by the NYC Department of Health and Mental Hygiene must have an A or B letter grade
  • Must be a small business
  • Must have been operating in the City for a minimum of three (3) years prior to the date of the application
  • Must not operate a Franchise, except Franchises that the Small Business Administration has determined to be small businesses may be eligible
  • Must rent current location of operation from an entity or individual that is not affiliated with the applicant
  • Must not owe any federal, state or city taxes and must not be delinquent in payments owed to resolve judgement or liens
  • All required licenses or permits relating to the business must be current
  • Must document that it has experienced at least a 5% increase in costs directly related to operating in rented commercial space within the prior 10 (ten) years. Documentation may include, but need not be limited to: lease(s), utility bills, property tax bills or cancelled checks, which reflect increased rental costs, an increased burden relating to payment of property taxes or increased utility costs at its current location.

How many grants will be awarded?

20 small businesses will each receive up to 10 hours of in-depth assessment of their business with one-on-one business consultations, and a grant of up to $90,000.

New York City Small Business Services helps unlock economic potential and create economic security for all New Yorkers by connecting New Yorkers to good jobs, creating stronger businesses, and building thriving neighborhoods across the five boroughs.

For more details and to apply online, visit loveyourlocal.cityofnewyork.us/apply-for-a-grant