Yesterday, the Alliance for Downtown New York provided $266,269 through 17 grants to Lower Manhattan small businesses, while also issuing $120,000 in deferred grants to six additional small businesses that have not yet reopened since being damaged by Hurricane Sandy.
These grants are being given through its Lower Manhattan: Back to Business Small Business Grant Program which established after Hurricane Sandy wreaked havoc upon many Lower Manhattan small businesses, forcing them to close and costing the business district millions of dollars worth of revenue.
“Small businesses have been instrumental in the success of Lower Manhattan as a premier destination to live, work and visit, and so it has been vitally important to come to their aid during this period,” said Elizabeth H. Berger, President of the Downtown Alliance. “These grants are helping small businesses who want to continue to prosper in our neighborhood.”
“It’s been great to see so many businesses that were damaged by Hurricane Sandy open their doors back up in Lower Manhattan, and we are continuing to reach out and see how we can help those still working to get back on their feet,” said Rob Walsh, Commissioner of the NYC Department of Small Business Services.
How the Program works
Back to Business began on November 19th and then made details and applications available on November 30th, contributing the first $1 million and marshaling additional financial contributions amounting to more than $500,000 to date. Under the program, grants are being awarded to qualifying small businesses that are located within Flood Zone A below Chambers Street.
In today’s first round of grant distribution, qualifying businesses are receiving up to $20,000 in grants. The grants are being made to a nail salon, wine shop, dry cleaners, and others, who were among the first eligible businesses to apply for the assistance.
Applications received after the closure of the filing period will be held but not processed unless more funds become available. Additional resources can be found at: http://www.downtownny.com/businessrecovery.
Fund contributors include: Goldman Sachs, Trinity Church, Citibank, The Durst Organization, The Howard Hughes Corporation, AT&T New York and Deutsche Bank Americas Foundation, CB Richard Ellis, the FiDi Association, and Platinum Properties. The latest donor to the program is real estate brokerage firm Cushman & Wakefield. Additionally, Platinum Properties announced that half of the proceeds from its holiday raffle, conducted Saturday at the company’s holiday party, will be donated to the Back to Business Small Business Grant Program.