§ 17-03 Eligibility Requirements.
RCNY § 17-03
Eligible Recipients. To be eligible for a grant, an applicant must satisfy all of the following criteria: (a) Applicant must operate a small business in which at least 50% of its revenue is generated from activities that are defined by the North American Industry Classification System (NAICS) as part of the Accommodation and Food Services sector, or the Arts, Entertainment, and Recreation sector; or operate an LMI small business.
(b)Applicant must be in operation at the time of submission of the application.
(c)Applicant must demonstrate annual revenue or gross receipts. Documentation may include, but need not be limited to: signed Federal or State tax return(s); State sales tax returns.
(d)Applicant must demonstrate at least a 25% reduction in gross receipts or revenue in either: (1) comparable quarters in 2019 and 2020; or (2) the 12-month calendar year 2019 and the 12-month calendar year 2020.
(e)Applicant must be in substantial compliance with applicable Federal, State, and local laws, rules and other legal requirements.
(f)Applicant must be current or in repayment on all Federal, State or City taxes (including delinquency repayment, prior to December 31, 2019).
(g)Applicant must not have received a grant from any of the following programs: (1) Shuttered Venues Operators Grant Program, or (2) Restaurant Revitalization Fund.
(h)Applicants must follow any additional, detailed application requirements outlined in the application which will be made available online at www.nyc.gov/sbs or by directly contacting DSBS.
(i)Applicant must use the grant to mitigate economic hardships that occurred as a result of the COVID-19 pandemic by using the grant funds to offset operational expenses for the small business that is the basis for the applicant's eligibility for the grant. Examples of appropriate uses for a grant include the following costs: payroll and benefits, mortgage, rent, utilities, and other operating costs. (Added City Record 9/17/2021, eff. 9/17/2021)
