NEWS
State Offers New Irene Grants for Small Businesses
Separate from $12 Million Announced by Cuomo
New York State has announced another lifeline for businesses affected by Hurricanes Irene and Sandy and Tropical Storm Lee. For this area, it is a welcome sight for commercial interests crushed by Irene two years ago. The new program, separate from the Community Reconstruction Zones offered by Governor Cuomo in his visit to Cobleskill Tuesday, offers another option.
The New York State Small Business Storm Recovery Program is offered to all small businesses with fewer than 100 employees affected by storms Irene, Lee, or Sandy. While much of the money is expected to travel Downstate, it is available to a total of 30 counties, including Schoharie.
The grants, which could total over $50,000 per business are meant to cover losses and expenses not covered by other sources. The program also offers low-interest loans of up to $1,000,000 for other costs. The grant costs are not capped, except for 100% of loss estimates, making this potentially one of the most generous that the state has offered in two years.
This program takes place under the wide umbrella of the NY Rising series of projects. This includes the $12 million in CRZ funding announced by Cuomo.
The grants, which could total over $50,000 per business are meant to cover losses and expenses not covered by other sources. The program also offers low-interest loans of up to $1,000,000 for other costs. The grant costs are not capped, except for 100% of loss estimates, making this potentially one of the most generous that the state has offered in two years.
This program takes place under the wide umbrella of the NY Rising series of projects. This includes the $12 million in CRZ funding announced by Cuomo.