Grants of up to $10,000 and loans of up to $25,000 to New York businesses in eligible locations for support during the Coronavirus (COVID-19) health crisis. Funding is intended to assist nonprofit and for-profit organizations facing financial hardship due to the pandemic. Eligible applicants are located in the Town of Islip.
Grants may be used to purchase Personal Protective Equipment, including but not limited to:
- Masks (N95)
- Hand sanitizers
- Sneeze Guards
- Face Guards and Face Shields
- Gloves and Eye Protection
- Safety Footwear
- Other respiratory devices (air purifiers)
- Cleaning materials and disinfectants
- Specialized packaging for shipping
- COVID Testing Kits
• Be located in the Town of Islip.
• Have not more than fifty (50) and not less than three (3) employees.
• Make a commitment to job retention.
• Demonstrate that the use of the loan proceeds will positively impact the community.
• Have been operational for at least two years and financially viable prior to the declaration of the emergency disaster (no startups).
• Demonstrate a financial need caused by the declaration of the emergency disaster.
In addition, for loans, organizations must:
• Demonstrate the ability for loan repayment within the prescribed 12-month period required by law.
• Provide personal guarantees of all owners.
Priority will be given to businesses that:
• Were not defined as an essential business and therefore were closed during the period of March 7, 2020, to May 29, 2020, or beyond.
• Are located in distressed communities (as defined in Article 18-A of GML).
• Are certified Minority or Women-Owned Businesses (MWOB).
In addition, for loans, priority is given to organizations that:
• Are a Veteran’s Owned Business.
• Will use the proceeds of the loan in conjunction with a capital project.
• Will provide matching funds.