Small Business Rental Assistance Grant | Downtown Alliance

Small Business Rental Assistance Grant

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To help confront the massive impacts of COVID-19 pandemic, the Downtown Alliance is providing rental assistance grants of $10,000 each to help offset monthly rental costs and has just expanded its eligibility criteria to reach more businesses. The expanded criteria for phase two of the program includes eligible businesses with gross annual revenues of up to $3 million and who employ up to 30 employees (the first round was capped at $1.5m and 20 employees), and to storefronts within an expanded geography that covers everything south of Chambers and the Brooklyn Bridge (expanded beyond the strict assessment boundaries of the Downtown-Lower Manhattan Business Improvement District). 
 
As with the first round, this grant is made possible by contributions from the Downtown Alliance along with neighborhood partners Brookfield Properties, Silverstein Properties and The Howard Hughes Corporation.
 
Small businesses and locally owned shops are the lifeblood of our City. Unfortunately, almost all have been adversely impacted by the new coronavirus. Many are seeking assistance from public and private sources but securing that relief has been a challenge. While limited in scope, this targeted grant program places a premium on ease of application and the swift processing of grants.
 
To be eligible for grant funding, businesses must meet the following requirements and provide appropriate documentation:
 
  • Currently be open as of May 21, 2020 and providing an "essential" service as defined by Governor Andrew Cuomo in the PAUSE order of March 22, 2020
  • Be located on the ground floor in Lower Manhattan south of Chambers Street and the Brooklyn Bridge.
  • Be an independent business with five or fewer locations in New York City
  • Have fewer than 30 employees as of March 1, 2020
  • Gross annual revenue below $3 million
  • Have a lease at their current location through December 31, 2020
  • Provide proof of rent payment for April or May, 2020 or potentially for later months if the Landlord has given approval for rent deferral

Please read additional program guidelines before submitting this application.

 

All grants awarded will be on a pending basis, subject to receipt by the Downtown Alliance of Applicant’s ACH transfer information and actual proof of rent payments as indicated in the paragraph above. 
 
If you don't pay rent for an extended period of time, the Downtown Alliance reserves the right to rescind any pending grant.
 
Applications will be reviewed and funds will be granted on a first-come, first-served basis beginning May 21, 2020 and ending June 4, 2020 at 11:59p ET. The application period will close before that date if the available funds have been exhausted. 
 
Payment of the grant will be made in one single payment via ACH transfer, in a reasonable time period after the award. You will be required to provide your bank account and routing numbers to facilitate the payment. Payment by other methods, including check, is not available. 
 
If you do not qualify for this grant program, please see our informational guide on COVID-19 relief programs available to businesses.