City of Peekskill Launches Microenterprise Assistance Program Grant Funding for Small Businesses

Peekskill, N.Y. – The City of Peekskill is pleased to announce their Microenterprise Assistance Program, which provides grant funding to eligible entrepreneurial, emerging, and existing businesses, is currently accepting applications. The program is open to both start-up and existing businesses with five or fewer employees that have plans to locate in or expand within Peekskill. Applications are due by November 6, 2020.

The Microenterprise Assistance Program is a federally funded program administered by the City of Peekskill Department of Planning and Development. Made possible through a $200,000 Community Development Block Grant from the New York State Office of Homes and Community Renewal, its primary objective is to assist in the establishment and expansion of small businesses and the creation of new jobs.

“This is another grant that can help rebuild our economy, especially for those who can use the assistance most,” said Peekskill Mayor Andre Rainey. “After this unforeseen pandemic, we as a city want to do everything in our power to establish ways to get businesses up and running and financially, back on track. I encourage all eligible to apply as we work towards building the new Peekskill and we wish you all success.”

To be eligible, the microenterprise must be owned by a person of low to moderate income or create jobs predominately for those of low to moderate income. The business must also be located in the City of Peekskill and zoned appropriately for the proposed business use.

Applicants may request a grant amount ranging from $5,000 up to $35,000 as part of the pre-application process. Grants may not exceed 90 percent of the total project cost, and a minimum of 10 percent owner equity cash contribution is required. The grant review committee will have the sole authority to set the final grant amount based on the needs of the applicant and availability of funds.

Activities that may be funded through the grant program include working capital to support operations, and/or the purchase of inventory, machinery, furniture, fixtures and equipment. Funding may not be used to purchase real estate, repay existing debt, or for any construction-related activities.

Business owners receiving grants through the Microenterprise Assistance Program will be required to participate in an entrepreneurial training program to be delivered by the New York State Small Business Development Center.

To request an application or learn more about the program, contact Kathy Lockwood at 914-734-4214 or klockwood@cityofpeekskill.com. Applications are also available online at https://bit.ly/34ugkQR.

The City of Peekskill is located at 840 Main Street in Peekskill, N.Y. and can be reached at 914-737-3400. For the latest news and updates, visit the City of Peekskill online at www.cityofpeekskill.com and on Facebook (@PeekskillGov).