SoHo Broadway Partner: Federally funded grants to help NYC businesses train and retain their staff
The NYC Department of Small Business Services (SBS) provides federally funded grants to help NYC-based businesses train and retain their employees. Businesses owners know the right trainings can help a company’s bottom line, reduce employee turnover, improve morale, promote an efficient and productive workforce, and increase competitiveness in the marketplace.
* Application Priority Deadline: Business PREP Risk Assessment and Grant Program will be prioritizing applicants whose annual revenue does not exceed $17 million until July 26, 2024. Awardees will be determined on a first-come, first-served basis, based on the order in which applicants have submitted a complete application.
Program Overview
The SBS Customized Training Grant Program works by having businesses identify problems they are facing and select trainings that will help them solve for problems. SBS reimburses up to 60 percent of the total training costs in one or more of the following areas:
Learning how to use recently purchased equipment or software
Offering new services/products to reach new markets
Providing new skills to help current staff advance into hard-to-fill positions
Updating outdated skills to help the business be more competitive
Program Guidelines
Grants range from $30,000-$400,000.
Businesses must be based in NYC, for-profit, and operating for more than one year.
Businesses must train at least 10 employees.*
Businesses pay for training costs up front and get reimbursed on a quarterly basis.
Employees can take different trainings.
Employees have one year to complete training.
Upon completion of training, businesses must provide wage increases.
* Businesses with less than 10 employees can apply jointly as a consortium to meet the trainee requirement. Please contact us for more information on applying as a consortium.
Someone from the Customized Training team will schedule a screening call to review your pre-application, discuss eligibility, and learn more about business challenge and training needs.
Submit a final application, provided by the Customized Training team, prior to one of the following deadlines:
Pre-Application Submission Dates
Grant Notification Dates
July 5, 2024
August 16, 2024
August 30, 2024
October 11, 2024
November 1, 2024
December 13, 2024
January 3, 2025
February 14, 2025
February 28, 2025
April 11, 2025
May 2, 2025
June 13, 2025
4. SBS staff will notify you about the status of your application within one week after its board meeting. If you have any questions, please contact our staff.
