Mosholu Preservation Corporation (MPC) is partnering with Local Initiatives Support Corporation (LISC) NYC to support local, small businesses in the Norwood and Wakefield neighborhoods through the LISC NYC Small Business Relief & Recovery Fund. The Fund will provide grants of $10,000 to minority-owned, small businesses, in response to their needs to successfully retool and adapt to new business guidelines and a changing marketplace, in the wake of COVID-19.

 

LISC NYC embraces an inclusive, economic development agenda that prioritizes targeted investments in public infrastructure, human talent, innovation, diverse enterprises, and community organizations. This aligns with MPC’s efforts to advance the health and wellbeing of Bronx communities through small business support, neighborhood development, quality housing, and local news.

 

Through this partnership, MPC will support businesses in the Norwood and Wakefield area in screening grant applications to the LISC NYC Small Business Relief & Recovery Fund. In addition, MPC will deliver technical assistance and business development support to participating businesses.

 

Business applicants selected by LISC NYC as relief fund grantees will receive support from MPC and avail of its specialized menu of small business services provided to all Northwest Bronx Merchants, helping them rebuild the commercial corridors hit hardest by the COVID-19 pandemic. They will also be connected with the NYC Department of Small Business Services’ Bronx Business Solutions Center.

 

The pandemic, and the resulting economic downturn, has had a severe impact on the ability of New York small businesses to survive and thrive. This funding opportunity is crucial in MPC’s fight for Bronx businesses, which have been repeatedly shut out of other aid opportunities made available during this pandemic. Many Bronx merchants didn’t qualify for available aid because of citizenship status, bookkeeping capabilities, employee numbers or because their needs weren’t addressed under the eligibility requirements pertaining to use of funds.

 

The relief fund grants can be used for payroll, overhead, rent, upgrades to technology and infrastructure, marketing, employee training and other business expenses. Business owners seeking to apply for these grants must receive assistance from a partnering Community Based Organization (CBO) in order to submit their applications. MPC, as a CBO partner, will help business owners apply for these grants and will also provide additional, technical assistance and training to help them sustain their businesses.

 

To be eligible for this grant, small businesses must be minority owned, have an annual revenue of less than $500,000, have fewer than 20 employees, be formally registered and in business for at least one year, and be located in New York City. MPC will be providing applicants to LISC NYC for Round 2 of this grant opportunity from Monday, Oct. 19 at 9 a.m. EST through Friday, Nov. 6, at 11.59 p.m. EST. Monday, Oct. 26 is the last day for small businesses to apply.

 

If you are a small business interested in applying for grant funding, please contact Daniela Beasley at dbeasley@mpcbronx.org.

 

Daniela Beasley is Manager of Small Business Support at Mosholu Preservation Corporation. For more information, please follow @mpcbronx on Instagram or head to our website at www.mpcbronx.org.