RFP 2024
Frequently Asked Questions
Q: Where is the application and how do I access the portal?
A: Visit our website www.nysmallbusinessfunders.org and click on the “Apply Now” button; that will direct you to the application portal (we’re using a platform called “Apply” from Survey Monkey).
Q: What is the deadline to apply?
A: All applications are due by October 16 at 11:59 pm ET.
Q: What if I have questions?
A: You can send an email directly to inquiries@nysmallbusinessfunders.org or send us a message via the contact form on our website. Should you need technical assistance in the application portal, there is also a link to contact support in the top toolbar (look for the “i” button).
Q: Can small businesses apply for these funds?
A: No. This grant opportunity is aimed at intermediaries and nonprofits that support small businesses. As the Collective’s capacity grows over time, we will employ different tactics and approaches.
Q: Does the lead applicant have to be based in NYC or only be providing services in NYC?
A: Applicants can be located within and/or primarily serving residents of Bronx, Kings, Richmond, New York, Queens counties. If your organization is not headquartered in NYC, please clearly state your service area(s) in the application, and detail local connections via partnerships, etc.
Q: Can CDFIs apply?
A: Yes. Eligible parties include individual business support entities, or groups of two or more business support entities, which can include for-profit, non-profit, academic, government, or other types, with a 501c3 organization as lead applicant. Please see the grant guidelines for deeper detail (in the “who’s eligible” section).
Q: How big are the grants? Is there multi-year funding available?
A: Each one-year partnership grant is expected to be in the range of $100,000-$250,000. Our first cohort had five grantee partnerships; we anticipate a similar number of awards for Cohort Two. Member funders have not yet made a determination regarding future funding.
Q: Why is this a partnership grant?
A: The NY Small Business Funders Collective prioritizes partnership. We value coordinated efforts for innovation and sustained impact. With this round, we hope to reveal and fund groups working to diversify supplier networks in the city, increase supply chain localization, and increase the number of historically excluded small business owners seeking and securing contracts with purchasers and anchor institutions in NYC.
Q: Are you disqualified if you already get grants from one of the funders in the Collective?
A: No. The Collective is a separate entity, and existing or potential grants from the member organizations do not disqualify applicants.
Q: Can the partnership be new, or does it need to have a track record?
A: We understand the significant amount of time and coordination it takes to establish a successful partnership, particularly around procurement. Existing programs and partnerships are welcome to apply to the “Doing Business Together grant opportunity. The proposal is also open to new programs and partnerships being formed to offer innovative solutions in the supplier diversity space. If the partnership is new, please emphasize shared goals or objectives that demonstrate the likelihood the group will work well together.
Q: What if we have multiple initiatives?
A: It is up to you whether you discuss multiple initiatives in the application or focus on one. Each application question is character-limited.
Q: Who will be making the grant decisions?
A: Each proposal will go through an initial qualification screening and vetting by two program management staff. After this initial screening, applications will be reviewed by Grant Review Committee members, a group that is comprised of eight members of the Collective as well as 5-6 external reviewers representing different vantage-points from within the small business and procurement sector.
Q: What are reporting requirements?
A: Lead applicants will be responsible for grant submission and reporting. We anticipate interim and final reporting will be required. Reporting will not be onerous - likely a brief written form, call, or video upload. The aim of the reporting will be mutual learning (funders and grantees) from the process and not bogging grantees down with paperwork.
Q: What is the revenue threshold for “small businesses” for this grant opportunity?
A: For the “Doing Business Together” grant opportunity, we are focused on projects working with small businesses with annual receipts up to $5 million. If your project works with small businesses that have higher annual receipts, you are not excluded from applying; in that case, please indicate how your project is helping historically excluded small business owners overcome barriers and more successfully seek and secure contracts with buyers in NYC.
Q: Can partners in this project be vendors/buyers themselves?
A: Yes! The Collective is excited to receive applications from partnerships involving buyers and/or sellers. Our Grant Guidelines have deeper detail on the Collective’s thinking and approach under the “Doing Business Together” section.