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.
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.
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).
To read more about this program, click here.
Either an objective determination of loss (from the U.S. Small Business Administration, private insurance carrier or public adjuster) or an SBDC Business Advisor site visit and a local record of storm impact.
During the initial consultation, your Business Advisor will provide an overview of the Program, review basic eligibility guidelines, discuss documentation required to apply and answer any questions you may have.
Applications are usually completed over the course of several meetings with an SBDC Business Advisor. The length of the application process can vary based upon available documentation, nature of the business, verifying eligible costs and previous assistance received along with other factors.
Assistance funds may only be used for expenses that qualify as an “Unmet Need” (please refer to Unmet Need FAQ for more information). Reimbursement assistance may be provided for eligible business losses. All reimbursement expense requests must include an invoice/receipt and proof of payment.
Currently, there is no application deadline. However, there is a finite amount of funding available, and the Program funds must be expended in two years. We encourage all business owners to apply at the earliest convenience.