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New York Business Grants
New York State is a major economic hub in the United States, with a robust economy. Its economic strength is largely driven by key industries such as finance, biotech and life sciences, logistics and distribution, and technology. New York City, the state's largest metropolis, is a global financial center housing the New York Stock Exchange and numerous major financial institutions, making finance and insurance a critical economic driver.
New York's economy is also bolstered by manufacturing, tourism, and agriculture. With a highly educated workforce, world-class R&D assets, advanced infrastructure, and globally competitive incentives, New York State is well positioned to play a leading role in America’s semiconductor manufacturing resurgence.
The economy of the State of New York is reflected in its gross state product in 2023 of $2.189 trillion, ranking third in size behind the larger states of California and Texas. If New York State were an independent nation, it would rank as the 10th largest economy in the world by nominal GDP.
Within this thriving economy, small businesses make up 98% of New York State businesses and employ 40% of New York’s private sector workforce. If you run or manage a business in New York, you know that securing financial resources is a must for businesses aiming to launch, expand, or sustain their operations. Business grants offer an attractive alternative to traditional loans, providing much-needed capital. At American Funding Group, we are dedicated to helping businesses across the Empire State obtain these valuable grants, enabling innovation, growth, and success.
Benefits of Grants for New York Businesses
Grants provide a multitude of advantages that make them a preferred option for many business owners. Here are some key benefits:
No Repayment Required: Unlike loans, grants do not need to be repaid. This means businesses can utilize the funds without worrying about interest rates or debt accumulation, freeing them to focus on growth and development.
Access to Capital: Grants provide essential capital that can be used for various purposes, including marketing, hiring, purchasing equipment, and expanding facilities. This financial boost can be a game-changer for small businesses looking to scale.
Economic Development: Grants often aim to stimulate local economies by supporting businesses that create jobs and contribute to community well-being. By securing a grant, your business can be a part of regional development initiatives in your community.
Recognition and Credibility: Receiving a grant can enhance a business's reputation, signaling to customers, employers, and partners that the company is credible and worthy of support.
Types of New York Businesses That Can Qualify for Grants
New York businesses have access to a wide range of grant opportunities, for various industries and business types. At American Funding Group, we help businesses across all sectors navigate the grant application process. Here are some examples of businesses that can qualify for grants:
Construction Firms: New York is constantly evolving, and the construction industry stands at the forefront of the evolution. In 2020, New York State had the fourth-largest construction sector in the nation. Construction firms are the backbone of building and maintaining infrastructure, and they can qualify for various grants that support job creation, skill development, and business growth. These grants can be used to fund projects such as workforce training, technology upgrades, and sustainability initiatives.
Trucking Companies: Did you know that more than 89% of New York communities depend exclusively on trucks to move their goods? Trucking is the lifeline for the transportation of goods and services, and they can benefit from grants aimed at supporting logistics and transportation businesses. As of 2022, there were 113,290 trucking companies located in New York, most of them small, locally owned businesses. Business grants can help trucking companies upgrade their vehicles, implement advanced logistics systems, comply with safety regulations, and more.
Restaurants: Restaurants create $76 billion in GDP and support more than one million jobs in New York State. From small, family-owned restaurants and food carts to four-star world-famous establishments, New York City abounds with restaurants that offer cuisines from every corner of the globe. If you run a restaurant in New York state, a business grant can help you deliver an outstanding customer experience, improve operational efficiency, and stay competitive in the state’s evolving foodservice market.
Cleaning and Janitorial Businesses: The cleaning and janitorial industry in New York is a significant sector, with a market size of $8.5 billion. According to an IBISWorld report, this industry supports over 72,000 businesses and employs more than 151,000 individuals across the state. Business grants for cleaning services can support initiatives such as workforce training, equipment purchase or leasing, and business growth. Funding can help cleaning companies expand, create more jobs, adopt the latest technology and green cleaning practices, and meet the growing demand for their services more efficiently.
Childcare: There were 5,846 private child day care services establishments in New York State in 2022 based on the QCEW data. Childcare or daycare is a $6.1 Billion industry in the Empire State. The industry employs over 150,000 people, reflecting the high demand for childcare services. Recognizing the importance of these essential services, grants are available specifically for childcare providers. If you run a childcare facility in New York, a grant could help with various needs, such as facility improvements, staff training, curriculum development, purchasing equipment or educational materials, and more.
Environmental and Green Businesses: New York State is committed to a cleaner, greener energy future—leading the U.S. in wind- and clean-technology patents, renewable energy resources, the development of new energy storage products and systems, and biofuel manufacturing and production. Cleantech businesses in New York can receive grants through programs that support the development and commercialization of sustainable technologies. These grants enable companies to advance their projects, scale operations, and contribute to the growth of a sustainable energy economy, all while reducing financial risk.
New York Grants for Minority Business Owners
Minority-owned businesses in New York have access to many specialized grants and opportunities. These are just a few of the initiatives that offer business grants for minority-owned businesses:
New York State MWBE Certification Program: Provides access to state contracts and procurement opportunities.
New York State Small Business Development Center (SBDC) Grants: Offers funding and resources tailored to minority-owned businesses.
Empire State Development’s Minority and Women Revolving Loan Trust Fund Program: Provides low-interest loans and grants for MWBEs.
NYC Department of Small Business Services (SBS) Grants: Offers various grant opportunities for minority business owners in New York City.NYSERDA Clean Energy Grants: Supports minority-owned businesses in the cleantech and renewable energy sectors.Minority and Women Business Development (MWBD) Grant Program: Provides grants for business development and expansion.
Global NY Fund Grant Program: provides grants and loans to help New York State’s small- and medium-sized businesses go global and create new jobs. The Global NY Fund Grant Program is open to New York State companies and not-for-profit economic development organizations seeking to create or expand direct exports.
The Creative Opportunity Fund: In partnership with the New York State Council on the Arts (NYSCA), A.R.T./New York offers the Creative Opportunity Fund (COF) to provide general operating support grants to theaters throughout New York State.
City of Troy’s Community Business Investment Grant: Supports local small businesses in need of capital to expand their existing City of Troy business.
Grants for Minority-Owned Businesses: Numerous foundations and non-profit organizations offer grants to minority entrepreneurs in New York. These include grants for:
African American-owned businesses
Hispanic and Latino-owned businesses
Asian American-owned businesses
Native American and Alaska Native-owned businesses
Pacific Islander-owned businesses
Women-owned businesses
Veteran-owned businesses
Disabled-owned businesses
Requirements for New York Businesses Looking For Grants:
If you search “How to qualify for a business grant,” you may find that the requirements range widely. At American Funding Group, we have streamlined the requirements to create a straightforward application process for you:
» You must be a business owner in the United States
» You must have an active LLC, S-Corp, or S-Corp and an Employer Identification Number (EIN)
» You will be able to fill out one form with American Funding Group and answer 30+ questions to be paired with our best grant.
New York Counties We Serve
Business grants are available for businesses from every county in New York. Some grants are county-specific, and aligned with the goals of local communities and economic development. Other grants are available regardless of the county in which your business is located. We have helped clients from all over the Empire State apply for grants and obtain funding:
These are just some of the counties we serve, ensuring that businesses throughout New York have access to grant opportunities.
✓ Albany
✓ Allegany
✓ Bronx
✓ Broome
✓ Cattaraugus
✓ Cayuga
✓ Chautauqua
✓ Chemung
✓ Chenango
✓ Clinton
✓ Columbia
✓ Cortland
✓ Delaware
✓ Dutchess
✓ Erie
✓ Essex
✓ Franklin
✓ Fulton
✓ Genesee
✓ Greene
✓ Hamilton
✓ Herkimer
✓ Jefferson
✓ Kings (Brooklyn)
✓ Lewis
✓ Livingston
✓ Madison
✓ Monroe
✓ Montgomery
✓ NassauNew York (Manhattan)
✓ Niagara
✓ Oneida
✓ Onondaga
✓ Ontario
✓ Orange
✓ Orleans
✓ Oswego
✓ Otsego
✓ Putnam
✓ Queens
✓ Rensselaer
✓ Richmond (Staten Island)
✓ Rockland
✓ St. Lawrence
✓ Saratoga
✓ Schenectady
✓ Schoharie
✓ Schuyler
✓ Seneca
✓ Steuben
✓ Suffolk
✓ Sullivan
✓ Tioga
✓ Tompkins
✓ Ulster
✓ Warren
✓ Washington
✓ Wayne
✓ Westchester
✓ Wyoming
✓ Yates
How American Funding Group Helps Businesses Owners Obtain Grants
Navigating the world of grant applications can be daunting, particularly for busy business owners who juggle multiple roles and responsibilities. At American Funding Group, we specialize in helping businesses identify and secure the grants they need. Here's how we support businesses through the process:
✓ You fill out a single application form on our website.
✓ Our system searches 7,000 grants
✓ Auto-apply for grants every month with our portal
✓ Grants are provided and distributed by private and federally-funded institutions listed on:
https://a4cb.org/services/grants
https://www.decaturedc.com/b2b
✓ The average approval rate for obtaining a grant is 30% to 40%.
✓ Once your grant is approved, it may take the grantor who approved it 30 to 90 days to distribute the funds to you.
Apply For Grant Funding Today
Grants offer a unique opportunity for New York businesses to access the funding they need to grow and succeed. Whether you're launching a business, expanding an existing business, or are a minority entrepreneur seeking targeted support, there are numerous grant programs available to help you achieve your goals. At American Funding Group, we simplify the grant application process for you, to help you secure funding and drive your business forward. Tap into your business's potential with American Funding Group and take the first step to apply for a business grant today.
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