Lake Ontario Small Business Recovery Fund

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Objective

Objective

The Lake Ontario Small Business Recovery Fund is part of the Lake Ontario/St. Lawrence Seaway Flood Relief and Recovery Grant Program passed by Governor Andrew Cuomo to assist those impacted by flooding due to the raised level of Lake Ontario/St. Lawrence Seaway and surrounding waterways.  

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Overview

Overview

The Lake Ontario Small Business Recovery Fund provides $15,000,000 to allow for grants of up to $50,000 to eligible small businesses, not for profit organizations, farms, and homeowners associations and up to $20,000 to eligible owners of multiple dwellings who experienced direct physical flood related damage and other losses due to the raised level of Lake Ontario, the St. Lawrence River, Seneca Lake, the Seneca River, the Oswego River, the Oneida River, Oneida Lake and Cross Lake.  Small businesses that experience direct, physical flood-related damage may also receive up to $50,000 in assistance for revenue loss as long as they can demonstrate a 15% loss in revenue as compared to the same period in the prior year.  Grants cannot exceed $50,000 even if applying for both physical and revenue losses incurred.  
 
Grants will cover up to 50% of losses which have not or will not be compensated by any other federal, state or local recovery program or third-party payors up to the maximum grant amount allowable.  Grants can be used for direct physical flood-related repair and restoration to structures, equipment, furniture, fixtures, supplies, inventory, chattel property, feed, and orchard and vineyard root stock, but not the crops grown thereon.  

All losses must have occurred between January 1, 2017 and August 31, 2017.  Applications must be postmarked by December 31, 2017.  Based on the interest in the program and the availability of program funds, the deadline for submission of applications may be extended by ESD at its discretion.  

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Eligibility

Eligibility

Eligibility, criteria and additional program information, can be found in the Lake Ontario Small Business Recovery Fund Guidelines

 

How to Apply

The Lake Ontario Small Business Recovery Fund application is available here, and submissions will be accepted continuously through December 31, 2017.

A complete application package must be mailed to:

Empire State Development
Attn: Lake Ontario Small Business Recovery Fund
625 Broadway
Albany, NY 12245

All applications must be postmarked by December 31, 2017. Applications postmarked after such date may be rejected by ESD. Based on interest in the program and the availability of program funds, the deadline for submission of applications may be extended by ESD at its discretion. 

Contact Information
To learn more about the Lake Ontario Small Business Recovery Fund, please contact us via email at LakeOntario@esd.ny.gov or phone at (518) 292-5348.