Governor Cuomo Announces $3.5 Billion in Assistance for Renters and Small Businesses

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ELMIRA, N.Y. (WETM) – Governor Andrew M. Cuomo announced Tuesday $3.5 billion in assistance for renters and small businesses experiencing financial hardship as a result of the covid-19 pandemic.

The rental assistance program makes up to $2.7 billion in emergency rental assistance available for struggling New Yorkers impacted by the Covid-19 pandemic.

“New York State announced the 800 million in small business recovery grant program and that’s going to provide flexible grants that are up to 50,000 made available to eligible small businesses and that’s nice because they’re eligible to use the funds for operating expenses including things like payroll, rent, or mortgage payments, taxes, utilities, etc. We’re seeing some flexibility in the programs available and I think that makes it more likely that businesses will take advantage,” said Kamala Keeley, President of Chemung County Chamber of Commerce.

“The grant program for businesses, I think a lot of that is intended to kind of help get them back on their feet pretty quickly, but with the new specifically the 2.7 billion in rental assistance programs for eligible households, that’s going to help them with up to 12 months of past-due rent and three months of prospective rental assistance, and 12 months of I think utility support and things like that, so it just depends on which program it is and also what kind of phase of the recovery the business is at,” said Keeley.

For eligible New Yorkers who are behind on their rent and have suffered financial hardship, applications will be accepted starting June 1.

Meanwhile, applications for the $800 million small business recovery grant program will open on June 10 to small and micro businesses, and for-profit independent arts and cultural organizations.

They expect the program to help up to 200,000 households.

The program will prioritize vulnerable populations for its first 30 days, like the unemployed or those making 50% or less of that median income.

After July 1st, applications will be processed on a first-come, first-served basis until funds run out.

For more information on how you can apply, click here.

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