Top Small Business Grants for 2025 in New York

New York State has over 2.3 small businesses, which account for 99% of all companies, making them crucial to the state’s economy, contributing to job creation, innovation, and economic growth.

However, these businesses face challenges like rising costs and economic uncertainties.

To support them, New York offers many generous grant programs to help entrepreneurs launch their startups and invest in growth, innovation, and sustainability without debt.

If you’re looking at starting a business in New York and need a small business grant to get going in the Empire State, here are some of the best options available.

What are small business grants?

Small-business grants are awarded to startups and existing businesses to help them grow and succeed.

Unlike loans, which you must repay with interest, or venture capital (VC), where investors take equity for funding, grants are free, making them an attractive option for small businesses, especially if you have problems qualifying for traditional financing or want to avoid debt. 

Grants come from various sources, including federal and state governments, corporations, private foundations, and nonprofits. 

New York state-specific small business grants for 2025

New York State offers grants to support start-ups and small businesses and encourage job creation and economic development within the state. 

New York’s grant programs target various industries and needs, offering opportunities for minority- and women-owned businesses (MWBEs), startups, and established businesses looking to expand.

These state-specific grants focus on fostering entrepreneurship, innovation, and sustainable growth and are available through various state agencies.

1. MWBE Grants

New York’s Minority and Women Business Enterprise (MWBE) program provides grants and contracts to businesses owned by women and minorities.

The state supports MWBEs through financial resources, technical assistance, and networking opportunities.

Application and eligibility process:

To apply, you must have an up-to-date MWBE certification with a minimum of 6 months remaining. A business Federal Tax ID and be a registered New York vendor. 

Visit the New York MWBE website for further information. 

2. New York State Consolidated Funding Application (CFA)

The CFA streamlines access to multiple state grant programs, including funding for economic development, sustainability projects, and workforce training; you can apply for different grants using one application form.

Application and eligibility process:

The CFA hosts multiple programs and initiatives that change throughout the year, so check periodically to see what’s available.   

You can find information on the Regional Economic Development Council Programs by visiting the CFA Available Resources | Consolidated Funding Application (ny.gov) website. 

3. New York StartUP! Business plan competition

Aspiring entrepreneurs can enter the New York StartUP! Business Plan Competition to win grants ranging from $7500 to $15,000 and free mentorship to help start their new business.

Application and eligibility process:

To qualify, you must live in the same district as your business which must be in The Bronx, Manhattan, or Staten Island.

If you’ve already started your business, it must have a total turnover of less than $10,000 pre-application.

Industry-specific and niche small business grants 2025

New York industry-specific and niche grants are financial programs that support businesses in specific sectors and demographics. 

These grants promote growth and innovation in industries such as technology, healthcare, renewable energy, and manufacturing for underrepresented groups, including minority- or women-owned businesses, sustainability projects, and community-based ventures.

Unlike general small business grants, industry-specific and niche grants offer tailored funding that addresses the unique challenges within a field and provided by government agencies, industry groups, or private organizations.

1. The Creative Opportunity Fund

In collaboration with the New York State Council on the Arts (NYSCA), A.R.T./New York offers the Creative Opportunity Fund (COF), providing general operating support grants to theaters across New York State. 

These grants, ranging from $2,000 to $5,000, are aimed at small professional theaters with annual budgets below $500,000.

Application an eligibility process:

• Be a New York-based theater company with at least two years of public programming experience.
• Operate as a 501(c) nonprofit, a fiscally sponsored group, or an unincorporated artist collective.
• Present live or virtual performances within New York State.
• Maintain annual expenses under $500,000.
• Commit to allocating at least 50% of awarded funds to compensate artists.
• The COF helps small theaters sustain operations while ensuring artists are paid a fair wage.

2. Market New York Tourism Grant

The Market New York grant program funds tourism marketing initiatives and capital projects throughout the Empire State. 

Small businesses and other eligible applicants can receive funding for marketing, capital improvements, and hosting special events like conferences, festivals, and athletic competitions.

Application an eligibility process: ​

• Applicants must be a nonprofit organization or a New York State-certified for-profit business.
• Proposals should focus on marketing or capital projects that promote tourism within the region or state.
• You must complete and submit the Consolidated Funding Application (CFA).
• Provide a 50% match for working capital or marketing projects, with a minimum request of $50,000.
• Provide an 80% match for capital projects, with a minimum request of $150,000.

Contact the New York State Division of Tourism for information about future funding rounds.

3. Global NY fund grant program

The Global NY Fund Grant Program helps New York organizations increase global exports. 

For-profit businesses can receive up to $25,000, while nonprofits are eligible for up to $100,000. 

Successful applicants can use funds for activities like export workshops, adapting products for foreign markets, taking part in trade shows, and overseas market development.

Application an eligibility process: ​

• Applicants must be New York small business owners with 500 or fewer employees.
• Businesses should either be new to exporting or looking to expand into new international markets.
• At least 51% of the value of products or services must originate in New York, or the business must be certified as a local producer.
• Your business must be at least 12 months old and need financial help.
• Applicants should understand exporting processes and the costs of dealing with foreign buyers.

The Global NY Fund Grant Program is expected to reopen by late 2024. More details are available on their website.

Federal grants available to NY businesses

Federal grants are non-repayable funds government agencies provide to support specific projects, initiatives, or research efforts. 

For businesses in New York, these grants serve as a crucial source of financing for startups and small enterprises looking to innovate, expand operations, or conduct research and development. 

New York businesses can access federal grant programs tailored to diverse needs, from technology development to export assistance. 

1. Small Business Innovation Research (SBIR) Program

The SBIR program funds small businesses engaged in research and development with the potential for commercialization. 

It stimulates technological innovation and supports healthcare, energy, and defense research.

Application and eligibility process:

You can apply through the various federal agency websites to participate in the program.

2. Small Business Technology Transfer (STTR) Program

The STTR program funds small businesses collaborating with research institutions to develop innovative technologies. 

This program encourages partnerships between small businesses and nonprofit research organizations.

Application and eligibility process:

You submit your application through the participati.ng agencies, similar to the SBIR program

3. Small business administration (SBA) grants

The U.S. Small Business Administration (SBA) is a federal agency offering resources and support to small business owners. 

While most SBA funding comes from loans, certain grants are available for specific initiatives.

In New York, the SBA operates through three district offices:

• SBA Buffalo District Office : Serves 14 counties in western New York. Businesses can contact the Buffalo’s main office or the Rochester’s satellite office.
• SBA Metro New York District Office : Covers 14 counties, including New York City, Long Island, and surrounding areas. The main office is in New York City, with a satellite office in Hauppauge.
• SBA Syracuse District Office : Supports 34 counties in upstate New York, with the main office in Syracuse, a branch in Albany, and a satellite office in Elmira.

Application and eligibility process:

Visit the SBA website to explore grant opportunities and follow the provided application instructions.

Corporate and private foundation small business grants for 2025

Corporate and private foundation grants are financial awards given by businesses and philanthropic organizations to support small businesses, community projects, and initiatives that align with their mission or corporate social responsibility goals. 

In 2025, many corporations and private foundations will offer grants targeting small businesses, focusing on sustainability, diversity, economic development, and technological innovation. 

1. FedEx small business grant contest

FedEx holds an annual grant contest to support small businesses by offering cash awards and FedEx services. 

In 2024, FedEx awarded nine grants of $20,000 each and one grand prize of $50,000.

Application and eligibility process:

• Your business must be U.S.-based, for-profit, and have fewer than 99 employees.
• You need a FedEx business shipping account and must use FedEx shipping services.

Sign up on the FedEx website to learn about the 2025 application opening dates and specific eligibility details.

2. Visa Everywhere Initiative

The Visa Everywhere Initiative is a global innovation competition that supports startups and FinTech companies by providing funding and networking opportunities to address payment and commerce challenges.

Application and eligibility process:

You must complete an online form through the Visa Everywhere Initiative website, providing information about your business, solution, and how it addresses payment-related challenges.

Eligibility requirements include:

• The competition is open to technology startups focusing on innovative payment and commerce solutions.
• Your business should be an early-stage or growth-stage company with a proven product or service and traction in the market.
• Applicants from any country must provide solutions applicable to the regions where Visa operates.
• Your solutions should address digital payments, cross-border payments, B2B payments, and FinTech innovations.

3. Freed Fellowship Grant

The Freed Fellowship provides a $500 micro-grant monthly to one U.S. small business owner.

Recipients of this monthly grant become eligible for a $2,500 year-end grant. Winners receive a one-on-one strategy session with a business expert and a year-long membership to the Freed Studio, a virtual entrepreneurial community.

Application and eligibility process:

• You must be a U.S.-based small or micro-business owner.
• The program encourages applications from underrepresented businesses.
• Applications are accepted on a rolling basis and must be submitted by midnight on the last day of the month to be eligible for that month’s grant.

New York small business grant application process: best practices and tips

No matter which grant you apply for, following the application process and meeting all requirements is essential. 

Here are some tips to assist you:

1. Research: Understand the specific grant programs available and their eligibility criteria.
2. Align your project goals with the priorities of the funding agency.
3. Start early: Begin the application process well in advance to allow time for research, preparation, and revisions.
4. Follow guidelines: Read and adhere to application instructions, including formatting, required documents, and deadlines.
5. Develop a sound proposal: Outline your project objectives, timeline, and budget. Include measurable outcomes and show the impact of your project.
6. Gather supporting documents: Prepare necessary documentation, such as business plans, financial statements, and letters of support.
7. Review and revise: Edit your application for clarity, coherence, and conciseness. 
8. Seek help: Use resources such as Small Business Development Centers (SBDCs) or local grant workshops for guidance.
9. Network: Attend informational sessions or networking events related to grant opportunities to connect with providers and other applicants.
10. Prepare for follow-up: Be ready to provide additional information or clarification if requested by the grant agency after submission.

Conclusion

Some final things you need to know about grants:

Federal grants are only available to established businesses in specific industries, and larger state grants can be challenging to get because of the application process, eligibility requirements, and competition. 

A smarter approach is to apply for a smaller local or New York industry-specific grant, which could increase your chances of approval.