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Deadline Approaches for Business Recovery Grants

Reviewers are ready to help you meet deadlines
Reviewers are ready to help you meet deadlines

 

The WTC Business Recovery Grant Program, established by the Empire State Development Corporation, provides grants of between three and 25 days in lost revenue -- up to $300,000 -- to businesses and non-profit organizations with fewer than 500 employees located on or below 14th Street on September 11, 2001. 

If you haven't yet applied for this federally-funded grant, you could still be eligible for assistance.  Additionally, if you have applied and received an award, you may be eligible for additional funds due to an increase in award amounts since the program's inception.  However, the deadline both to submit applications for the first time and to apply for supplemental awards is fast approaching.  All completed applications must be submitted by December 31, 2002.

Reviewers are on hand at each of two WTC Business Recovery Centers, at 140 William Street and 2 Rector Street, to help guide you through the application process.

Eligibility requirements:

In order to be eligible for the WTC Business Recovery Grant, a business must meet the following criteria:

  • It must be a for-profit business or a non-profit organization not involved in religious or political activities.
  • It must have been located south of 14th Street on September 11, 2001, and intend to continue or resume business operations within the City of New York.
  • It must employ fewer than 500 full-time permanent employees.
  • It must have derived revenues and/or expenses from operations at the Lower Manhattan location.

What amount you are eligible for:

If your business meets the above criteria, you are eligible for between three and 25 days in lost revenue (up from between two and 10 days under the program's original guidelines), dependent on the proximity of your organization to the World Trade Center on the day the towers were struck. 

  • Businesses in the "restricted zone," the area bound by Rector Street to the south, Broadway to the east, and Chambers Street to the north, are eligible for 25 days of lost revenue (increased from 10 days).
  • Businesses outside the "restricted zone" but south of Canal Street are eligible for seven days of lost revenue (increased from five days).
  • Businesses north of Canal Street but south of Houston Street are eligible for five days of lost revenue (increased from three days).
  • Businesses north of Houston Street but south of 14th Street are eligible for three days of lost revenue (increased from two days).

For a map of eligible zones, click here.

How to apply:

More than 8,500 businesses have received more than $236 million dollars through the WTC Business Recovery Grant program, thanks to generous funding from the United States Department of Housing and Urban Development.  Don't be left out.  The deadline to apply is December 31, 2002.  Act now to receive the assistance to which you are entitled.

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