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.
For firms that have already filed a Federal Tax Return for operations:
Grant awards will be calculated based upon the annual amount of gross receipts as shown on their provided 2020 or 2021 business tax return.
- Businesses with $5,000 and up to $49,999.99 in gross receipts: Award is $5,000/business.
- Businesses with $50,000 – $99,999.99 in gross receipts: Award is $10,000/business.
- Businesses with $100,000 – $1,000,000 in gross receipts: Award is 10% of gross receipts with a maximum grant amount of $25,000/business.
For firms that have NOT filed a Federal Tax Return for operations thus far:
- Award is $5,000/business.