Lake Ontario Small Business Recovery Fund

Objective

The Lake Ontario Small Business Recovery Fund provides assistance to eligible small businesses that sustained direct physical flood-related damage related to Lake Ontario flooding.

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Overview

Overview

New York State has allocated $5 million to be used to provide grants to eligible small businesses for physical losses to real property and other tangible assets related to Lake Ontario flooding.

Grants may be used for physical losses to structures and other tangible assets related to Lake Ontario flooding.

Grants of up to $20,000 may be provided for such losses which either have not or will not be compensated by any other federal, state or local recovery program or any third-party payors.

The losses must have occurred on or after April 1, 2017. Program assistance will be calculated at fifty percent (50%) of the net eligible loss not to exceed $20,000. In order to be eligible for funding the business must have been in operation up until April 1, 2017.

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.