Lead Stories, News

County program provides $10M to businesses, nonprofits

Westchester County Executive George Latimer today announced on Sept. 16, $10 million funding initiative to support small businesses and nonprofits facing challenges due to COVID-19.  Westchester County Business FIRST: Financial Investments for Recovery and a Sustainable Tomorrow is a new grant program
designed to offer immediate financial relief to organizations in Westchester that have been negatively impacted by the pandemic.

“We are at a critical point in Westchester County’s history—and such times call for leadership and innovation,” Latimer said.  “The Westchester County Business FIRST Program will provide urgent financial assistance to businesses and nonprofits now, and set the foundation to rebuild our economy as we work toward a sustainable future.”

The Westchester County Business FIRST program is being administered by the county Office of Economic Development through the federal Coronavirus
Aid, Relief, and Economic Security, CARES, Act.  The program is open to businesses and nonprofits that employ 99 or fewer people and whose primary business location is in Westchester County. Eligible business and nonprofits can apply for grants of up to $49,000.

Applications will be accepted from Sept. 21 through Sept. 30, 2020. “These are difficult times, but as ‘The Catalyst’ for economic growth and vitality, the Office
of Economic Development is here to support County businesses and nonprofits,” said Bridget Gibbons, the county’s director of Economic Development. “These
organizations help fuel our economy and provide quality jobs in our communities.  This funding is designed to help them recover and get back to business.”

To be eligible, organizations must be in good standing with Westchester County and are required to demonstrate revenue losses of at least 25% from
March 7, 2020 to present due to the COVID-19 pandemic.  The applicant must establish that the organization was a financially viable operation prior to March 7, 2020, the date Gov. Andrew Cuomo signed Executive Order 202 declaring a disaster emergency.  The organization must have been open as of Feb. 1, 2020, currently be in operation, or closed temporarily and plan to reopen for business in 2020.

“The Business Council of Westchester is extremely supportive of this program,” said Dr. Marsha Gordon, president and CEO of the Business Council of
Westchester.  “These sectors have been especially hard hit and desperately need these financial resources to survive.  The County is also analyzing which sectors have been hardest hit, so that these resources can be deployed most effectively.  This is a ray of hope for those organizations struggling to stay alive.”

Certain entities are not eligible to apply for Westchester County Business FIRST grant, including units of government; real estate holding companies, businesses or nonprofits that generate revenue through passive real estate; adult entertainment establishments; gas stations; and businesses or nonprofits that have defaulted on federal debt, including loans from the Small Business Administration.  For more information on the application process, visit https://westchestercatalyst.com/business-FIRST-programs/. (Submitted)