State Resources

New York state made financial assistance available through several programs as part of the Business Pandemic Recovery Initiative. Some of these programs are still open and have money available, but others are currently out of money. The programs that have run out of money may be replenished in the future. Programs that currently sill have money available include:

• Pandemic Small Business Recovery Grant Program This program provides grants to businesses that can demonstrate an economic loss as a result of the pandemic from 2019 to 2020. Award amounts depend on the annual gross receipts of the business and can range from $5,000 up to $50,000. The application window for this program opened in June 2021, and remains open today.
• Tourism Return-to-Work Grant Program This program provides grants to businesses in the tourism industry that can demonstrate financial loss due to the pandemic. The program is specifically designed to assist and incentivize job recovery for businesses in the tourism industry. Eligible business can receive $5,000 for each net new full-time equivalent job added, and $2,500 for each net new part-time equivalent job added. Applicants must first fill out an eligibility screening tool, followed by a preliminary application. An online application portal for this program is expected to be made available in March, 2022.

• Restaurant Return-To-Work Tax Credit This Program provides tax credits for independently owned and operated resultants that can demonstrate a financial loss due to the pandemic. This program is only for restaurants in New York City or in areas that were designated by the NYS Department of Health as either an Orange zone or a Red zone for at least 30 consecutive days. In the Hudson Valley, this applies to select areas of Orange, Rockland, and Westchester County. qualified businesses can receive a tax credit of $5,000 per new hired worker, up to $50,000 per business.  Applicants must first fill out an eligibility questionnaire, and if they are determined to be eligible they will be sent a full application to complete.
• The Shared Work Program This is a program, administered by the New York State Department of Labor, is designed to help employers and employees avoid layoffs during downturns. The program allows for business to reduce the hours worked by their employees, and the employees receive partial unemployment benefits. The idea behind the program is to help businesses avoid losing valued employees. Instead of needing to find and train new employees, this program puts them in a position to quickly ramp up to full operation when they are able to. This program is also designed to help workers keep their job while mitigating the financial impact of reduced hours. As part of the application process for this program, applicants must create a shared work plan which demonstrates the proposed reduction in hours for employees. The above link to this program includes videos about Shared Work Program Benefits and How to Create a Shared Work Plan.

Local Resources

Central Hudson Back to Business

This program provides grants to small businesses to assist in paying down new working capital loans from participating local banks. Businesses must be Central Hudson customers in good standing and have 20 or fewer employees. Central Hudson has committed up to $1 million for this program. Eligible businesses can receive up to $10,000 in grant funding through this program.

Resources for small businesses may be available through county and municipal-level entities. Small business owners are encouraged to contact their local government, chamber of commerce, or economic development agency to inquire about what assistance they may be able to provide. While direct financial assistance may not be available, they may be able to provide technical assistance or point you in the direction of financial resources. Below are links to these types of organizations by county, as well as information on active pandemic-related small business relief programs provided by these entities.

Columbia County

Columbia Economic Development Corporation (CEDC) The CEDC established a Rapid Recovery Loan Program to support Columbia County small businesses affected by the pandemic. Applicants can receive loans up to $15,000.

Columbia County Chamber of Commerce

Dutchess County

Th!nk Dutchess Alliance for Business

Dutchess County Regional Chamber of Commerce

Greene County

Greene County Chamber of Commerce

Greene County Economic Development Corporation

Orange County

Orange County Office of Economic Development

Orange County Partnership Center of Economic Development

Orange County Chamber of Commerce

Putnam County

Putnam County Economic Development Corporation

Putnam County Chamber of Commerce

Rockland County

Rockland Business Association

Rockland County Office of Economic Development and Tourism

Rockland County Economic Development Council

Sullivan County

Sullivan Partnership for Economic Development The Sullivan County Partnership for Economic development created the Disaster Relief Workforce Emergency (DRWE) loan fund program in early 2020. DRWE assists existing business that experience short-term interruptions in business income due to the pandemic. The DRWE loan fund is still open and can be used for things like covering payroll demands, insurance payments, and other costs.

Sullivan County Chamber of Commerce

Ulster County

Ulster County Office of Economic Development

Ulster County Regional Chamber of Commerce

Ulster County Economic Development Alliance

Westchester County

Westchester Office of Economic Development (The Catalyst)

Business Council of Westchester County

Coming Soon – The Billion Dollar Rescue Plan

Governor Hochul recently announced several new initiatives to support small businesses in New York as part of a “billion-dollar rescue plan.” Though complete details are not yet available, the four programs listed below are promising sources of assistance for small businesses in the near future. Pattern for Progress will provide information on these programs as soon as they come available.

• Funding for Small Businesses of the Future: This program will provide funding for growing companies that locate or remain in New York State, with a focus on small businesses in the innovation sector. One of the goals of this program will be to assist minority-owned and women-owned companies that are often overlooked by private-sector investors.

• Capital Investment Tax Credit: This program will provide a tax credit to small businesses which took on COVID-related capital expenses. Examples of eligible expenses include retrofits, renovations, and equipment related to COVID safety enhancements. The 2022 New York State Executive Budget proposes $250 million in funding for this program.

• Seed Funding for Small Businesses: This program will provide flexible grants to start-up or recently opened small businesses. There will be a focus on assisting small business owners that are economically disadvantaged. The 2022 New York State Executive Budget proposes $200 million in funding for this program

• Small Business Lending Initiative: This program will provide reduced interest rates and accessible loans to small businesses. One of the goals of this program will be to assist socially and economically disadvantaged small businesses that often have difficulty accessing existing loan opportunities to grow their business.