NYC Small Businesses in Flood Zones Can Receive Grants Up to $5k Through New Program

By Leira Aquino

Apr 03, 2024 02:56 AM EDT

Heavy Rains Cause Flash Flooding In Parts Of New York City
The NYC Department of Small Business Services introduces a new program grant that offers up to $5,000 to aid flood-prone small businesses in the city.
(Photo : Michael M. Santiago/Getty Images)

The New York City Department of Small Business Services has announced a new initiative aimed at supporting small businesses in flood-prone areas. 

The Business Preparedness and Resiliency Program (BPREP) offers grants of up to $5,000 to eligible businesses to strengthen their infrastructure against natural disasters.

BPREP Program Aims to Assist NYC Business Owners in Flood-Prone Zones

"Small businesses and commercial property owners that completed BPREP can receive grants up to $5,000 to strengthen their infrastructure," Kevin D. Kim, Commissioner of the NYC Department of Small Business Services, explained.

The program, developed in collaboration with NYC Emergency Management and the Department of Environmental Protection, seeks to assist business owners in minimizing disruptions caused by flooding. 

It provides guidance on asset protection, insurance navigation, and strategies for business continuity.

READ NEXT: Citi Announces 430 Job Cuts Across New York Offices, Spanning Multiple Divisions

480 Small Businesses to Benefit from $2.3M BPREP Funding

The Mayor's Office of Climate and Environmental Justice estimates that approximately 480 small businesses will benefit from this program, aimed at enhancing the resilience of NYC's business community.

"The Adams administration is proud to have secured over $1.6 billion in federal funding to build resilience sustainable infrastructure in NYC, including $2.3 million for this BPREP program," Commissioner Kim highlighted.

To access the grants, businesses must undergo a free assessment. 

The program targets businesses located in coastal and stormwater flood zones.

READ MORE: China Pressing Banks to Expedite Loan Approvals to Cash-Strapped Private Property Developers

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics