FOR IMMEDIATE RELEASE
APRIL 2, 2024

SBS ANNOUNCES NEW GRANTS TO HELP SMALL BUSINESSES SHORE UP AGAINST NATURAL DISASTERS

Eligible Small Businesses in Floodplains May Receive Grants of Up to $5,000 for Resiliency Equipment

Additional Supports Available to Minimize Vulnerability, Protect Assets, and Expedite Recovery After Natural Disasters

NEW YORK – The NYC Department of Small Business Services (SBS) today launched a new grant program designed to support small businesses in New York City floodplains become more resilient in the face of natural disasters. With a goal to serve approximately 450 businesses, the new Business Preparedness and Resiliency Program (BPREP) grant offers a free risk assessment to identify business vulnerabilities and accompanying grants of up to $5,000 for eligible small businesses and commercial property owners to shore up their infrastructure with items like generators, fire and flood-proof storage, and flood barriers.

"As climate change poses a growing threat to our city, it is imperative for New Yorkers to prepare for natural disasters and adapt to the new normal," said Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer. "SBS's Business Preparedness Resiliency Program not only helps small businesses assess their climate preparedness but also make investments to enhance it, and it aligns with the administration's vision of a greener, cleaner, and safer New York City."

"SBS is committed to providing our small businesses with essential tools and resources to prepare for natural disasters," said SBS Commissioner Kevin D. Kim. "After more than a decade of historic floods and the accelerating impact of climate change, our city must be resilient in the face of unpredictability. We are proud to announce our grant program in collaboration with our partners at the Mayor's Office of Climate and Environmental Justice and other city agencies and urge business owners in every borough to seize this opportunity and enhance their climate readiness."

As part of Mayor Eric Adams's commitment to creating a safer and more climate-friendly city, the new program aligns with the administration's strategic climate plan, which focuses on protecting New Yorkers from climate threats, improving quality of life, and enhancing businesses' capacity to adapt in the face of natural disasters. The initiative is a partnership between SBS and the Mayor's Office of Climate and Environmental Justice (MOCEJ) to deliver on recommendations made in the city's The New Normal report, building on the legacy of the previous Risk Assessment and Grant Program.

"New York City's small businesses are the cornerstone of our city's economy, offering essential services, creating jobs, and contributing to the unique character of our neighborhoods. But the escalating frequency of natural disasters represents a challenge to these vital establishments," said NYC Emergency Management Commissioner Zach Iscol. "Our collaboration with SBS has enhanced the Business Preparedness and Resiliency Program, now including targeted flood mitigation measures and a risk assessment service that is based on NYCEM's Community Risk Assessment Dashboard. Offering up to $5,000, BPREP grants empower businesses to take proactive measures against future emergencies and are part of a broader initiative to build business resilience, including our partnership with SBS on the ReadyNY for Business guide and resources on our website."

"Small businesses are the heart and soul of New York City and with this initiative, we are making them more flood-resilient and able to recover more easily from the financial shocks brought by climate change events," said Mayor's Office of Climate & Environmental Justice Executive Director Elijah Hutchinson. "Red Hook, hit especially hard by Sandy, and other frontline communities will benefit from programs that strengthen social cohesion and maintain community wealth – two crucial components of environmental justice."

"Extreme weather can wreak havoc on small businesses that don't have the resources to protect themselves," said NYC Department of Environmental Protection Commissioner Rohit T. Aggarwala. "Through this grant program, Mayor Adams and SBS are helping businesses more quickly prepare and improve their resiliency, and the resiliency of their communities by extension."

"I applaud the mayor and SBS for creating and implementing this important grant that will reach hundreds of businesses throughout our city," said Councilmember Oswald Feliz. "This grant will help secure businesses in New York City's floodplains and prepare them for the threats posed by climate change. Providing critical resiliency support to our small businesses is an integral part of ensuring the future of New York City's economy."

"Supporting small businesses as our city and the world grapples with the realities of climate change is an important step for our future," said Lisa Sorin, President, Bronx Chamber of Commerce. "The new grant program launched by the NYC Department of Small Business Services and the Mayor's Office of Climate and Environmental Justice provides businesses with the monetary assistance necessary to adapt in the face of natural disasters. We look forward to working with the City of New York to ensure this program reaches Bronx businesses and further builds on the success of NYC SBS's BPREP Program."

"Our small businesses were hit hard by Hurricane Sandy and it's just a matter of time before the next mega-storm hits. All we can do is try to prepare ourselves, our businesses, and our communities," said Robert J. Benfatto and Erin Piscopink, Co-Chairs, NYC BID Association. "We applaud Commissioner Kim and SBS for taking the initiative to help small businesses in floodplains at the highest risk for a natural disaster to be prepared. As always, our BIDs will do everything possible to help our small businesses and our city to prepare for and respond to natural disasters."

"Red Hook Business Alliance is grateful for the attention to the increasing frequency and severity of heavy rain and coastal surge flooding, especially given the invisibility of urban flooding which often impacts interiors and storage areas that go unnoticed except to those experiencing it directly," said Susan Povich, Chair, Red Hook Business Alliance. "We stand by to support uptake of the Small Business Services BPREP assessment and grant program and overall preparedness of our small business owners and owners of commercial properties as they build up their resiliency within our changing climate."

"Businesses across New York City face rising costs associated with improving their resiliency in the face of climate change. In particular, Southwest Brooklyn businesses face associated challenges with flooding due to the increased frequency and intensity of cloudburst storms and rising sea levels," said Jesse Solomon, Executive Director, Southwest Brooklyn Industrial Development Corporation. "This grant is a helpful step towards offsetting some of the costs of adaptation for these businesses, and in turn, ensure a more resilient city."

"Resiliency, especially in Red Hook, may be the most important issue we're facing, and this announcement will help small businesses do what's unfortunately necessary to become more resilient," said Mike Racioppo, District Manager, Brooklyn Community Board 6.

"Our small business owners on 5th Avenue welcome the support from SBS to assist in their efforts to mitigate flood damage which destroys equipment and goods on a regular basis," said Joanna Tallantire, Executive Director, Park Slope Fifth Avenue BID.

SBS's Business PREP program equips business owners citywide with essential tools to enhance their resilience, identifying vulnerabilities and bolstering overall preparedness. The Business Preparedness content on the MyCity Business website and SBS webinars offer accessible entry points for businesses to initiate their resilience journey and maintain readiness for any natural disaster.

Funds for small businesses will be provided on a first-come, first-served basis to eligible applicants who meet the following criteria:

• The applicant must be an owner or tenant of a commercial property located in an area at risk of or with exposure to flooding.
• The commercial property must be occupied by a small business operational for at least one (1) year at the time of application.
• The applicant's annual revenue for the prior calendar year, or the most recent calendar year for which the applicant submitted a federal income tax return, must not exceed $30 million.
• The applicant must not have previously received any grant or other benefit, including an assessment related to resiliency, from the BPREP Grant Program or the RISE:NYC program.

Award determinations will occur in two rounds. The first round will consider applicants whose revenue is no more than $17 million, followed by any other applicant whose annual revenue does not exceed $30 million. Those interested in BPREP should go to nyc.gov/businessprep or call 888-SBS-4NYC.

SBS's outreach team is partnering with chambers of commerce and community organizations, conducting door-to-door outreach, tabling neighborhood events, and providing onsite consultations in all five boroughs across NYC.

About the NYC Department of Small Business Services (SBS)
SBS helps unlock economic potential and create economic security for all New Yorkers by connecting New Yorkers to good jobs, creating stronger businesses, and building vibrant neighborhoods across the five boroughs. For more information on all SBS services, go to nyc.gov/sbs, call 311, and follow us on Facebook, Twitter, Instagram, and LinkedIn.