NY loosens restrictions in push to make more small businesses eligible for grant money
There's a new push by New York state to get more small businesses impacted by the pandemic to sign up for funding under the Small Business Recovery Grant program.
The state set aside $800 million to help small businesses, but only $48 million of the funds has been used.
Gov. Kathy Hochul has now loosened the restrictions to make more businesses eligible for the grants and get the word out.
"I have not heard of this program, and it's great because any type of program that can help us just keep our head above water is something we could ultimately use," says Christina Bisbee, of The Chocolate Duck. "It would be a big help to us."
The grant money doesn't have to be paid back and ranges from $5,000 to $50,000 depending on the size of the business.
Matt Cohen, president of the Long Island Association, says he applauds Hochul for helping the program evolve. "She's trying to make more businesses eligible, trying to get more money in their pockets and get more money on our Main Streets."