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Governor’s office of storm recovery (GOSR)

Small Business Recovery Program

Announcement:

The deadline for all new applications to be submitted and all in progress application to confirm their continued interest for the NY Rising Small Business Program was May 1, 2015. If you have questions regarding your application, please contact your nearest Small Business Development Center.
 
All currently active applications must provide all application documents (as outlined on the Applicant Document Checklist) to their SBDC no later than July 1, 2015 in order to continue to pursue assistance.

About the Program:

Rendering grants of $50,000 or more, the Small Business Recovery Program provides support to independently-owned and operated small businesses that suffered loss as a result of Superstorm Sandy, Hurricane Irene or Tropical Storm Lee. Grants may cover eligible, unmet rehabilitation, repair, replacement and mitigation needs as a result of an eligible storm after accounting for all Federal, State, local and/or private sources of disaster-related assistance, including, but not limited to, flood insurance proceeds. The grant program is administered by the State in partnership with intermediaries.

As of March 2015, the program has awarded more than $30 million to more than 750 impacted businesses.

 
Eligibility: (Full eligibility requirements are outlined in the Program Policy Manual)

  • Have unmet, eligible, rehabilitation, repair, replacement and mitigation needs as a result of an eligible storm after accounting for all other Federal, State, local and/or private sources of disaster-related assistance, including, but not limited to, flood insurance proceeds.

  • All applicant businesses must be defined as a small business by the U.S. Small Business Administration (SBA).

  • All applicant businesses must have impacted premises in one of the eligible disaster affected counties:
    • Superstorm Sandy: Nassau, Orange, Putnam, Suffolk, Sullivan, Ulster and Westchester counties
    • Hurricane Irene: Albany, Clinton, Columbia, Delaware, Dutchess, Essex, Franklin, Greene, Hamilton, Herkimer, Montgomery, Nassau, Orange, Ostego, Putnam, Rensselaer, Rockland, Saratoga, Schenectady, Schoharie, Suffolk, Sullivan, Ulster, Warren and Washington counties
    • Tropical Storm Lee: Broome, Chemung, Chenango, Delaware, Fulton, Herkimer, Oneida, Orange, Ostego, Schenectady, Schoharie, Tioga, Tompkins and Ulster counties

 
Grant Assistance:

  • Grants up to $50,000 to cover eligible uncompensated losses may be offered for all affected businesses
  • Additional grant assistance of up to $50,000 may be provided for eligible businesses that suffered damage under specific circumstances and can demonstrate that they are at risk of closure or significant employment or revenue loss.
  • Additional grant assistance of up to $50,000 may be provided for eligible businesses in the Coastal Fishing and Seasonal Tourism industries located in one of New York State's designated disaster areas, and which suffered eligible uncompensated losses as a direct result of Superstorm Sandy, Hurricane Irene or Tropical Storm Lee.
  • In conjunction with repairs to an eligible impacted business, additional grant assistance may be available to cover mitigation expenses of up to an average grant amount of $100,000 to prevent damage from future storms.
  • All grants will be made on a cost-incurred basis for all eligible expenses, as verified by a certification of loss from the SBA, the business's insurance company or other verified source. Some activities already undertaken as part of a business' recovery efforts may be eligible for funding, subject to review and applicability of program rules and guidelines.

 

Superstorm Sandy Fishery Disaster Relief Program

To read more about this program, click here.

FAQs

NY Rising Reconciliation

NY Rising Reconciliation Frequently Asked Questions (Document)

What are the types of assistance available to small businesses impacted by Superstorm Sandy?

The NYS Small Business Storm Recovery Program offers two types of assistance; small business grants and small business loans. A business owner may apply to receive both grant and loan assistance. Grant assistance of up to $50,000 per business is available with select businesses possibly eligible for a grant maximum of $250,000. Loan assistance is capped at $1,000,000.

How do I know if my business is eligible?

Basic eligibility guidelines include:

  • Defined as a small business by the U.S. Small Business Administration;
  • Suffered eligible uncompensated losses as a direct result of Hurricane Sandy, Hurricane Irene or Tropical Storm Lee;
  • Have eligible, unmet needs after accounting for all Federal, State, local sources of disaster-related assistance, and/or flood insurance proceeds;
  • Be currently operating, or, if not currently operating, demonstrate the business has a clear path to begin operations in the near future.

Full eligibility will be determined by working with an SBDC Business Advisor.

What activities can be funded with assistance through the NYS Small Business Storm Recovery Program?

All assistance is limited to activities that are a direct result of either Superstorm Sandy, Hurricane Irene or Tropical Storm Lee. Assistance funds may only be used for expenses that qualify as an “Unmet Need” (see next question for definition). Eligible activities include repair, replacement, or reimbursement of machinery, equipment, furniture, fixtures, supplies and inventory. All activities must be verified for eligibility by a Small Business Development Center (“SBDC”) Business Advisor.

What is an unmet need?

Unmet need is damage and/or loss suffered from Superstorm Sandy, Hurricane Irene or Tropical Storm Lee that was not covered by any other benefit such as (but not limited to) SBA loans, Empire State Development (ESD)/New York Business Development Corporation loans, private insurance payments, or grants from any public or private source.

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$15.8 Billion

in economic output from the new jobs