QUEENS SMALL BUSINESS GRANT PROGRAM
- Total applicants: 813
- Total approvals: 401
- Value of approvals: $7,738,056
- Average grant: $19,297
- Minority-owned: 326
- Woman-owned: 174
- Non-MWBE: 32
- Prefer not to answer: 9
- Ground floor restaurant: 172
- Ground floor retail: 115
- Ground floor personal services: 103
- Ground floor gym/studio: 5
- Second floor restaurant: 4
- Ground floor arts: 1
- Street vendor: 1
Queens Borough President Donovan Richards, in partnership with the City and Pursuit, announced the launch of the Queens Small Business Grant Program to provide resources to small businesses impacted by COVID-19. Through a generous $17.5 million donation from Steve Cohen, the City will partner with community-based organizations to offer $15 million worth of grants to Queens small businesses in need up to $20,000 to support operational expenses.
The COVID-19 pandemic has disproportionately impacted minority communities. In an effort to support small business recovery, Borough President Richards worked with the New York City Economic Development Corporation (NYCEDC) to provide Queens-based small businesses and vendors that are minority-owned, located in one of the COVID-19 hardest hit zones or low-and moderate-income communities (LMI) with financial resources. In addition, the City will dedicate 30% of the grants to support restaurants, street vendors and $2.5 million for further small business support later in 2021.
Eligible applicants must:
- Be located in Queens
- Operate as a first-floor storefront business, a second-floor restaurant, or a street vendor
- Employed 20 or fewer full-time equivalent employees in 2019
- Earned gross revenue of less than $1 million in 2019 or less than $3 million if a restaurant
- Have no tax liens or unresolved judgement
- Generated a profit or came close to breaking-even in 2019
Pursuit is administering the grant program and will partner with other local community organizations to expand reach and impact. Businesses may qualify for the grant with participating community partners including Accompany Capital, Ascendus, BOC Capital, Greater Jamaica Development Corporation, Pursuit, Renaissance EDC, and Queens Chamber of Commerce.
For more information about the Queens Small Business Grant program, reach out to the community partners listed on the flier.