As New York City grapples with the economic fallout of the ongoing Covid-19 pandemic, small businesses have been especially devastated. 16 Community-Based Organizations and the City of New York’s Department of Small Business Services (SBS) partner with LISC NYC to support small businesses in underserved communities impacted by Covid-19.
The LISC NYC Small Business Relief and Recovery Fund will provide direct grants of $10,000 to New York City minority-owned small businesses to support their recovery from the pandemic. Awardees can use funds for payroll, rent, marketing, overhead, cost of technology, employee training, or related costs. Businesses applying for funds must meet the following requirements:
- Located in New York City
- Have 20 or fewer employees
- Have an annual revenue of less than $500,000
The 16 organizations, spread over the five boroughs, will also connect small businesses to additional technical assistance and training to help them sustain operations and ensure their long-term viability. Partner organizations include:
- Bronx: Mosholu Preservation Corporation; Women’s Housing and Economic Development Corporation (WHEDco)
- Brooklyn: Bedford Stuyvesant Restoration Corporation; Bridge Street Development Corporation; Brooklyn Navy Yard Development Corporation; Cypress Hills Local Development Corporation
- Manhattan: Asian Americans for Equality (AAFE); Harlem Park to Park; New York Women’s Chamber of Commerce; Uptown Grand Central; West Harlem Group Assistance
- Queens: Asian Americans for Equality (AAFE); Chhaya Community Development Corporation; Greater Jamaica Development Corporation; Long Island City Partnership; Rockaway Development & Revitalization Corporation
- Staten Island: Staten Island Chamber of Commerce
Other perks, in addition to the $10,000 include advice on compliance with new regulations, information about how to access legal assistance, additional financial resources, as well as training and mentorship opportunities.
LISC New York City is dedicated to helping underserved New York City neighborhoods. They focus on the following areas:
- Affordable housing
- Economic development
- Healthy neighborhoods
Contact them here.