The New York State Seed Funding Grant Program (the “Program”) was created to provide assistance to early-stage small businesses to succeed in a recovering New York State economy.
Eligible Applicants must provide evidence, acceptable to New York State that the Eligible Applicant is operational and meets the Program requirements. As part of the application each micro-business, small business, or for-profit arts and cultural organization including independent arts contractors shall provide sufficient documentation in a manner prescribed by Empire State Development ("ESD") to demonstrate Program qualification. Only one grant per business EIN or SSN is allowed. Due to a limited amount of funding and the high volume of requests expected, business type, geography and industry may factor into ability to receive a grant.
Small businesses, Micro-businesses and For-profit independent arts and cultural organizations, including independent arts contractors submitting an application for a grant award to the Program (collectively, “Eligible Applicants”) must:
- Be incorporated in New York State or licensed or registered to do business in New York State and must be resident in the State of New York;
- Be a currently viable Micro-business, Small business, or For-profit arts and cultural organization including independent arts contractors that started business on September 1, 2018 or later and has been operational for at least six months before an application is submitted;
- Have between five thousand dollars ($5,000) and one million dollars ($1,000,000) in gross receipts per annum as reflected on their most recent Federal Business Tax Return (line 1a, IRS Form 1120 or 1065; line 1 IRS Form 1040 Schedule C) or be able to demonstrate five thousand dollars ($5,000) in business expenses for businesses that have not yet filed a Federal Business Tax Return;
- Be in substantial compliance with applicable federal, state and local laws, regulations, codes and requirements;
- Not owe any federal, state or local taxes, or have an approved repayment, deferral plan, or agreement with appropriate federal, state, and local taxing authorities;
- Not qualify for business assistance grant programs under the federal American Rescue Plan Act of 2021 or any other available federal COVID-19 economic recovery or business assistance grant programs, including loans forgiven under the federal Paycheck Protection Program, or are unable to obtain sufficient business assistance from such federal programs.*
For full list of eligibility requirement, visit the link