The City of Peekskill Microenterprise Assistance Program (MAP) will provide grants to eligible entrepreneurial, emerging, and existing businesses that want to locate in or expand within the City of Peekskill. Eligible businesses are limited to new and existing commercial enterprises with five (5) or fewer employees, one (1) or more of which is the principal and owns the enterprise at the time of application. The program is open to:
- Start-Up Businesses — Must be owned by low or moderate income persons, or will create jobs, the majority of which will be available to low or moderate income persons.
- Existing Businesses — Eligible businesses must have five or fewer employees, including the owner of the business. The business must either be owned by low or moderate income persons or will create jobs, the majority of which will be available to low or moderate income persons.
About the Microenterprise Program
- 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% of the total project cost, and a minimum of 10% owner equity cash contribution is required.
- The majority of grants will be to new businesses.
- The Microenterprise must be located in the City of Peekskill and must be zoned appropriately for the proposed business use..
- Business owners receiving grants through this program must participate in an entrepreneurial training program to be delivered by the New York State Small Business Development Center. Dates, times and locations are being finalized and will be released shortly..
- Applicants who are chosen to participate in the mandatory Entrepreneurial Training Program will be required to pay a fee of $250. This training program fee will be reimbursed to the applicant once they have completed a full application and been awarded a micro-enterprise grant by the grant review committee. 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.
- Eligible activities that may be funded through this grant program are limited to 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.
Applications available October 5, 2020 and are due by November 6, 2020.
To Receive an Application, email klockwood@cityofpeekskill.com, visit cityofpeekskill.com, or call Kathy Lockwood 914-734-4214