A $4.5 Million Grant for Small Businesses Via Town of Oyster Bay Program

Exciting time sensitive news for small business owners and non-profit organizations: The Town of Oyster Bay is launching a new $4.5 million grant program for small business and nonprofits that have been impacted by COVID-19. Applications for the $5,000 grants will be accepted on a first come, first served basis beginning November 29th. Be sure to apply as soon as possible to be eligible for this financial assistance. Apply here 

The program is open to businesses that employ up to 50 full-time equivalent W-2 employees as well as sole proprietors.  To qualify, the entity must be a for-profit business, or 501c3 or 501c19 non-profit organization, with annual revenue between $35,000 and $5 million.

Small business applicants must be the majority owner. At least 60% of nonprofit expenses must have been programmatic in 2019. The applicant must be in operation at the time of application and have been in operation prior to January 1, 2021. The applicant must have fewer than 50 full-time equivalent W-2 employees, have certification and demonstration of economic hardship due to pandemic, and not be in default or arrears on past or current federal and state financing or funding programs.

Recipients can use the funding for a variety of purposes, including expenses that helped mitigate hardships caused by the pandemic. These could include the purchase of inventory and supplies, rent payments, utilities, property taxes, lease or purchase of equipment, as well as operating and emergency maintenance.

The Oyster Bay Forward Grant Program is fueled by federal funds secured by the town, according to a news release. “After a year-plus long pandemic and now facing an economic recession, small businesses need all the help they can get to stay afloat,” Town Supervisor John Saladino said in a statement. “My administration earmarked these federal funds to boost small businesses and not-for-profits; to help them recover losses from the pandemic and keep their operations moving forward in the Town of Oyster Bay,” he added.

Applications will be processed through the National Development Council, which the town retained to administer the program. Additional eligibility criteria, including required documents, as well as applications for eligible business and non-profit organizations are available on the Town website where organizations can also sign up to participate in an informative webinar further detailing the application process.

Please refer to the Town’s website with any questions regarding the program.