While many established business owners flocked to state federal loan programs to stay afloat during the pandemic, emerging entrepreneurs found no such support.

Businesses that opened during 2020 did not have revenue records for previous years, which were needed to prove a financial loss, and could not qualify for loans to pay employees. Last week there was a break in those business storm clouds, as Ulster County unveiled the “Ulster County CARES Small Business Program,” which could help fill the cracks.

“During the pandemic we have seen big box stores and multinational corporations continue to thrive, while our small businesses have struggled,” Ryan said in a recent press release. “In Ulster County, we are doubling down on our efforts to support our local businesses. This $1 million in CARES Act funding, along with the tremendous work of our Department of Economic Development, will provide the necessary tools to not just help our businesses stay afloat but to also grow and expand.”

In addition to the above issue, Sam Kandel, intern director for the New York Small Business Development Center (SBDC), explained that the cash flow for small businesses was slashed by 80 percent in many cases. At the same time, the “cost of compliance” (which includes purchasing masks, cleaning supplies, and other pandemic-related items) kept digging into business owners’ revenue and reserve funds.

“Since March of 2020, the [SBDC] has heard compelling testimonies from hundreds of small businesses who were extremely impacted by the COVID-19 pandemic. That impact persists today,” Kandel said in the press release. “We are thrilled to hear of this funding, and are available to assist clients through the application process or with any other needs they might have.”

A grand total of $1 million was awarded to the county through the CARES Act: a $2.2 trillion pandemic relief bill signed by former President Donald Trump in March 2020. Small businesses can use the money to pay storefront rent, employees, and equipment. The maximum grant amount is $35,000 per business.

To qualify, a small business must have fewer than 25 employees. It must also be owned by someone with limited income or have a majority of its employees who meet the “limited income threshold.” An example of a limited income threshold would be a family of three making up to $63,250 a year. Priority points will be awarded minority, women and veteran-owned businesses.

More information will be available on the county website in the upcoming weeks. In the meanwhile, interested business owners are encouraged to fill out the pre-application form and refer any questions to oed@co.ulster.ny.us.