Oyster Bay Town Supervisor Joseph Saladino and the Town Board announce that $4.5 million in Federal money secured by the Town of Oyster Bay will soon be available to small business owners and non-profit organizations financially impacted by the COVID-19 pandemic. Beginning Tuesday, November 29th, businesses and not-for-profit organizations can apply to receive up to $5,000 in grant monies through this new initiative, known as the ‘Oyster Bay Forward’ Grant Program.
“After a year-plus long pandemic and now facing an economic recession, small businesses need all the help they can get to stay afloat,” said Supervisor Saladino. “My administration earmarked these Federal funds to boost small businesses and not-for-profits, help them recover losses from the pandemic, and keep their operations moving forward in the Town of Oyster Bay.”
The ‘Oyster Bay Forward’ Grant Program is open to businesses that employ up to 50 full-time equivalent W-2 employees as well as sole proprietors. Additional eligibility criteria:
- Applicant must be the principal (i.e. majority owner);
- Entity must be a for-profit business, or 501c3 or 501c19 non-profit organization, with annual revenue between $35,000 and $5 million;
- At least 60 percent of non-profit expenses must have been programmatic in 2019;
- Applicant must be in operation at the time of application and have been in operation prior to January 1, 2021;
- Must have fewer than 50 full-time equivalent W-2 employees;
- Certification and demonstration of economic hardship due to pandemic; and
- Not be in default or arrears on past or current federal and state financing or funding programs.
Grant monies can be utilized for a variety of purposes, including expenses that helped mitigate hardships caused by the pandemic. These could include the purchase of inventory and supplies, rent payments, utilities, property taxes, lease or purchase of equipment, as well as operating and emergency maintenance.
Applications will be processed through the National Development Council (NDC) – who was retained by the Town to administer the ‘Oyster Bay Forward’ Grant Program. Additional eligibility criteria, including required documents, as well as applications for eligible business and non-profit organizations are available at TOBForward.com, where interested parties can also sign up to participate in an informative webinar further detailing the application process.