The $35 million Restaurant Return-to-Work Tax Credit Program provides an incentive to COVID-impacted restaurants to bring restaurant staff back-to-work, and to increase hiring at NYS restaurants. Qualifying businesses are eligible for a tax credit of $5,000 per new worker hired, up-to $50,000 per business. The Program is open to eligible restaurants located in New York … Read more
The Interest Rate Reduction Grant will help reduce the interest expense owed on an existing loan with select Community Development Financial Institutions (CDFI). CDFIs focus on serving businesses who cannot easily access capital and creating opportunities that positively impact the communities they serve. SBS has partnered with 11 CDFIs who work primarily with Asian, Black, … Read more
Product Details: Loan amount: up to $100,000 Loan term: 60 months, including no payments the first six months Interest rate: 0% Pre-payment penalty: none Closing fee: $300 (only if loan is approved) Who Can Apply? Businesses must: Operate in one of these eligible LMI neighborhoods Employ between 2-99 employees in total across all locations Have been … Read more
The mission of the Valley Economic Development Center’s (VEDC) Tri-State Business Opportunity Fund is to support consistent, high quality employment in communities in the New York area. The VEDC specializes in funding minority- and women-owned businesses, including start-ups and nonprofits, with loans ranging from $50,000 to $500,000 and microloans between $2,500 and $50,000. When packaging … Read more
