September 15, 2020 – Beginning today, the application for the second round of BIG grants has been made accessible. Applicants can now begin gathering the necessary information. On Thursday, September 17th, the applications will begin being accepted. Grants will be awarded and funded on a rolling basis until the funds have depleted. There is around $200 million available this round, and more than half of the funds have been earmarked for downstate businesses.
Of this funding, $70 million will be invested in Disproportionately Impacted Areas and $60 million will be used in heavily impacted industries. Heavily impacted industries have been defined as having annual revenue of $10 million or less and have been closed or operating at a diminished capacity since the pandemic began. Heavily impacted industries include music venues, event spaces, indoor recreation, amusement parks, performing art venues, movie theaters, charter buses, and museums.
All businesses with $20 million or less in annual revenue in 2019 and experienced losses due to the pandemic are eligible for BIG funding. The grant will be equivalent to two months worth of expenses.
