The Urban League of Long Island and BNB Bank are inviting women and minority business owners who have been affected by the pandemic to apply for $5,000 grants.
The deadline for the Long Island Small Business COVID-19 Recovery Challenge is Monday at 5 p.m.
To be eligible, businesses must have been established before Jan. 1, 2019, and be women- or minority-owned, with annual revenue of less than $1 million and fewer than 10 full-time employees, and they must be able to demonstrate that their revenue is down at least 25% for April through June, compared with the same period last year.
The Urban League of Long Island will select 10 finalists, who will be invited to take part in an online business pitch event on Thursday from 5 to 6:30 p.m. BNB Bank will select five potential winners.
“We are really trying to assist in the recovery, particularly in the communities that are hardest hit,” said Theresa Sanders, president of the Urban League of Long Island.
The grants will help cover costs such as purchasing masks and gloves and reconfiguring spaces to allow social distancing, Sanders said.
The contest is sponsored by Bridgehampton-based BNB Bank with the Urban League of Long Island. It is funded by the Federal Home Loan Bank of New York Small Business Recovery Grant program and BNB Bank.
More information about the contest rules can be found at https://files.constantcontact.com/a145a8d7301/bf190ee2-55bc-42b2-8b5d-337e10e310df.pdf.
The grant application is available at https://forms.gle/1JCRmcJhhxoEQa7A7. Applicants must have a free Google account to access the application form.