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Risk Assessment and Grant Program

Applications are open for the Business Preparedness and Resiliency Program (PREP) Risk Assessment and Grant Program.

If your business location is in an area at risk of flooding, you may be eligible for an on-site, one-on-one risk assessment. Our experts will review your physical location, business operations, and insurance needs to provide you with personalized recommendations to help reduce the risk to your business and/or property in the case of disruptive events.

Program participants can receive a grant of up to $5,000 to cover the costs of recommended measures or certain types of resiliency equipment such as portable flood barriers, generators, and fire-proof storage containers.

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. For more details, please refer to the program's rule.

Learn More and Apply

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Eligibility Requirements

  • Your business and/or property is located in an area at risk of flooding according to the NYC Flood Hazard Mapper or the NYC Stormwater Resiliency Maps
  • Have been in operation for at least one (1) year at the time of application or the commercial property must be occupied by a small business that has been in operation for at least one (1) year at the time of application
  • Your annual revenue does not exceed $30 million
  • Did not previously receive any grant or other benefit from the NYC Department of Small Business Services (SBS) Business PREP Grant Program or the RISE:NYC Program
  • All required licenses and permits relating to the commercial property or the small business occupying the commercial property must be current

How To Apply

Gather the documents you will need to complete the application process.

  • Signed copy of W-9 to verify your EIN and legal business name
  • Business PREP Certification Letter
  • If a commercial tenant, copy of the lease for the commercial property to demonstrate that the property is occupied by a small business that has been in operation for at least one (1) year
  • Additional documentation as needed if public records cannot be found/used to determine eligibility as stipulated by the program’s rule
  • Gather electronic copies of your supporting documents.

Need Help?

Call the SBS hotline at 888-SBS-4NYC (888-727-4692) or contact us online.

Apply for the Business PREP Risk Assessment and Grant Program

After You Apply

Use SBS Connect to track the status of your application. Sign into your account and view your application from the My Records page.

SBS will notify you of its final determination.

If your business' application is denied, you have a right to appeal the decision. The instructions for the appeal process will be included in the denial notification from SBS.

Track the status of your application

Frequently Asked Questions

I am interested in the Risk Assessment and Grant Program. How does the process work?

The first step is to submit an application. You can apply online here.

Your application will be reviewed to determine eligibility. If eligible, a program representative will contact you to schedule the on-site risk assessment at your place of business. After the assessment, the team will provide you with a report that includes recommendations on how to improve the resiliency of your business. The report will also include a list of recommended items or equipment that you can buy with the grant.

What is the deadline for applications?

The program is first-come, first-served within specific geographic boundaries. SBS will continue to process applications and subsequent grants until the funding has been exhausted.

What does the team do when they come out for the risk assessment?

Our team of experts will interview you and assess your physical space, operations, and insurance coverage to determine what vulnerabilities you may face in a disaster and what could be done to be better prepared and lessen your risks.

What do I need to prepare for the assessment?

We recommend that you gather insurance documents and a copy of your lease. Additionally, if you have already done any emergency planning or business continuity planning, you should have those documents at hand to share them with the assessment team.

We also recommend that the owner be present at the assessment, along with any key operations personnel that they would like to include and who might be helpful in describing the business operations to the assessment team as they walk through the premises.

What will this cost me?

There is no cost to the applicant.

How long does the process take?

You will know whether you are eligible for an on-site assessment within three (3) business days of the receipt of your complete application. If you are eligible, we will contact you within one (1) business day of your approval to schedule the risk assessment at your convenience. The assessment itself will take roughly 2 hours. After the initial visit, the assessment team will create a customized report and determine which items they recommend. The team will schedule a follow-up to discuss the report and guide you through the grant process. You will have 30 days to purchase your desired items/equipment after the grant agreement is executed. SBS will share a copy of the executed agreement with you.

What is the best way to contact you?

Call 888-SBS-4NYC or send us a message.

Summer thunderstorm raining on the intersection of Broadway and 12th Street in New York City

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