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Governor Cuomo Announces $3.5 Billion in Assistance for Renters and Small Businesses
Governor Andrew M. Cuomo today announced $3.5 billion in assistance for renters and
small businesses experiencing financial hardship as a result of the COVID-19
pandemic.
The rental assistance program makes up to $2.7 billion in emergency rental assistance
available for struggling New Yorkers impacted by the COVID-19 pandemic. Applications
for the program will be accepted starting June 1 for eligible New Yorkers who are
behind on their rent and have suffered financial hardship due to COVID-19.
The small business recovery grant program makes up to $800 million in funding
available for small businesses to help them recover from the economic impact of the
pandemic. Applications for the program will be accepted starting June 10 for small and
micro businesses and small for-profit independent arts and cultural organizations to help
them recover from the economic impact of the pandemic. Flexible grants up to $50,000
will be made available to eligible small businesses and can be used for operating
expenses, including payroll, rent or mortgage payments, taxes, utilities, personal
protective equipment, or other business expenses incurred during the pandemic. Over
330,000 small and micro businesses are potentially eligible for this program, including
57 percent of the State's certified MWBEs.
Applications for both programs will open within the next two weeks. Read the full news release here.
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