Photo Courtesy of Ed Reed/Mayoral Photography Office
“As the city continues on its journey to recovery, it is critical that we make small businesses the central focus of our relief efforts,” SBS Commissioner Dorris said.
By Forum Staff
On Friday, Mayor Bill de Blasio, the Office of Management and Budget, and NYC Department of Small Business Services Commissioner Jonnel Doris announced that more than $155 million will be allocated for small business recovery and job training in emerging markets in the City’s Executive Budget for Fiscal Year 2022.
“As the city continues on its journey to recovery, it is critical that we make small businesses the central focus of our relief efforts,” Dorris said. “SBS will continue to strive for an inclusive recovery, ensuring all small businesses have the resources they need to get back on their feet.”
NYC Small Business Loan Fund
The NYC Small Business Recovery Loan program is a $100 million fund, partly funded with private capital, dedicated to helping small businesses retain staff and keep their doors open. Using census tract data to target communities hardest hit by COVID-19, New York City will provide low-interest loans of up to $100,000 to approximately 2,000 small businesses.
Small Business Grant Program
The $100 million Small Business Grant Program will provide direct support to small businesses to boost our recovery and put New Yorkers back to work. It will include $50 million in rental assistance for small businesses in the arts, entertainment, recreation, food services, and accommodation sectors, and an additional $50 million focused on small businesses in low- to moderate income communities, using census tract data, to hire staff or meet unpaid expenses incurred since March 2020.
Commercial Lease Assistance Program
The existing Commercial Lease Assistance program will receive $10.4 million to provide expanded free legal services to help businesses sign, change or terminate leases, or address a commercial lease issue. This funding will help to expand outreach to small businesses in the 33 hardest hit neighborhoods identified by the Mayor’s Taskforce on Racial Inclusion & Equity (TRIE) that were disproportionately impacted by the COVID-19 pandemic.
Accelerate
Small Business Reopening/Opening
The City will allocate $5 million to establish a small business recovery “one-stop shop” service to help businesses meet requirements for opening/reopening inspections, licensing and permitting as the COVID-19 pandemic subsides.
Career Pathways
The Career Pathways Initiative will receive $2.5 million to support training in the technology, healthcare, industrial, and food service sectors, with a special focus on connecting underrepresented groups to careers such as web development, data analysis, commercial driving, cable installation, nursing and medical assistant.
Apprentice NYC
Apprentice NYC will receive $1.5 million. This initiative recasts a traditional workforce development approach to address 21st century skills, allowing workers to learn while they earn in careers in healthcare, tech, manufacturing, and food service.
Green Jobs & Manufacturing
HireNYC Construction Careers will receive $1.5 million that connects NYCHA residents and low-income New Yorkers to the construction trades through pre-apprenticeship training. This strategy leverages the City’s investments in capital construction projects to help maximize the number low income New Yorkers and NYCHA residents that enter the trades. This funding will also assist manufacturing businesses in developing blueprints to manufacture more products locally and reduce operating costs.
Avenue NYC Program
The Avenue NYC Commercial Revitalization program will receive $1.2 million to expand outreach into more neighborhoods, exclusively in low- to moderate income neighborhoods with a focus on the 33 hardest-hit neighborhoods defined by TRIE that were disproportionately impacted by the COVID-19 pandemic.
Shop Your City Campaign
The Shop Your City advertising campaign will receive $1.1 million to support businesses by encouraging New Yorkers to shop locally.
