CMP BOC is actively assisting early-stage small businesses with the NYS Seed Funding Grant Program application. Contact us: Jocelyn Liu, 646-292-5380, Jocelynliu@cmpny.org for more info or application assistance.
Eligible Business Qualifications:
Be incorporated in New York State or licensed or registered to do business in New York State and must be resident in the State of New York;
Be a currently viable Micro-business, Small business, or For-profit arts and cultural organization including independent arts contractors that started business on September 1, 2018 or later and has been operational for at least six months before an application is submitted;
Have between five thousand dollars ($5,000) and one million dollars ($1,000,000) in gross receipts per annum as reflected on their most recent Federal Business Tax Return or be able to demonstrate five thousand dollars ($5,000) in business expenses for businesses that have not yet filed a Federal Business Tax Return;
Be in substantial compliance with applicable federal, state and local laws, regulations, codes and requirements;
Not owe any federal, state or local taxes, or have an approved repayment, deferral plan, or agreement with appropriate federal, state, and local taxing authorities;
Not qualify for business assistance grant programs under the federal American Rescue Plan Act of 2021 or any other available federal COVID-19 economic recovery or business assistance grant programs, including loans forgiven under the federal Paycheck Protection Program, or are unable to obtain sufficient business assistance from such federal programs.
Grant Amounts
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
For more info or application assistance, please contact CMP: Jocelyn Liu, 646-292-5380, Jocelynliu@cmpny.org.
