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Coronavirus in NYC: New Small Business Loan for Brooklyn Businesses for Up to $30K

Jacque Colbert by Jacque Colbert
May 6, 2020
in Business
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Coronavirus in NYC: New Small Business Loan for Brooklyn Businesses for Up to $30K
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Brooklyn Chamber of Commerce launches new coronavirus mortgage program

Beginning this week some Brooklyn small companies could have one other shot at a coronavirus mortgage. On Tuesday, the Brooklyn Chamber of Commerce started distributing loans starting from $500 to $30,000 to any small enterprise that has misplaced enterprise because of the pandemic and has not obtained funding from the federal Paycheck Safety Program, the Publish first reported.

Notably, the loans include far fewer strings hooked up to them than these being distributed — or in a lot of Brooklyn’s case, not being distributed — by the federal authorities. Independently-owned eating places, bars, and different small companies can repay the no-interest loans on a versatile time-frame, with 65 p.c of the loans being earmarked for minority- and women-owned companies. As soon as repaid, these loans will then be distributed to different companies within the borough, in keeping with the Post. The Brooklyn Chamber of Commerce is elevating cash for extra loans by means of crowdsourcing platform Fundrazr. On the time of writing, the chamber’s Bring Back Brooklyn Fund has raised near $130,000, with a aim to boost as a lot as half 1,000,000 {dollars}, in keeping with the fundraiser.

New York and New Jersey have been among the many states hardest hit by the coronavirus pandemic, but a disproportionately lower proportion of small companies in these states have obtained reduction from the federal Paycheck Safety Program. In Brooklyn alone, as many as 84 percent of small businesses had not obtained funding from the PPP when the federal program ran out of cash on April 16. Amongst women- and minority-owned small companies in Brooklyn, that quantity is as excessive as 90 p.c. On April 24, Congress approved an extra $310 billion of funding by means of the PPP, nevertheless it nonetheless stays to be seen how successfully these stimulus loans help U.S. small companies.

In different information:

— Spanish tapas bar Boqueria reopens for takeout and supply on the Higher East Facet this afternoon. The restaurant’s revamped to-go menu consists of family-style paella, tapas for teenagers, completely happy hour packages, and pitchers of sangria. The restaurant is offered for supply and pickup from 12 p.m. to eight p.m. Wednesday by means of Sunday, with 25 p.c off the primary order positioned by means of the restaurant’s web site.

— Yana Volfson, the beverage director at Cosme and Atla, has teamed up with Empirical Spirits on a brand new pre-batched cocktail in celebration of Cinco de Mayo. Proceeds from the cocktail, named “Fuck Trump & His Silly Fucking Wall,” will profit the Cosme and Atla staff relief fund. The 375-ml bottle is offered for pick-up and delivery from Atla or for worldwide delivery from Empirical Spirits.

— Harlem’s new craft beer bar, Oh Craft!, opens this week at 1739 Amsterdam Avenue, between 146th and 147th Streets. The bar presently has 20-ish cans and bottles obtainable for takeout, whereas its faucets ought to be up and working with Grimm and Threes Brewing choices by finish of week.

— Juice bar and occasional chain Joe & the Juice partnered with restaurant eating app Allset to begin taking orders forward of time for pickup at 17 NYC areas beginning immediately, in keeping with a spokesperson.

— Rêzdora has jumped within the Mom’s Day delivery game. The restaurant’s $199 dinner for 4 consists of antipasto, pasta, and seasonal vegetable choices, ricotta cake for dessert, and a bottle of prosecco and peach puree for make-at-home Bellinis.

— A cookbook from the Queens Night time Market is now available for preorder. The World Eats Right here brings collectively recipes from greater than 40 nations as informed by the first- and second-generation immigrant cooks who prepare dinner them.

— East Village bakery Crimson Gate will probably be reopening for an additional pop-up sale this Saturday, Could 9 from 12 p.m. to four p.m. The bakery is accepting preorders till midnight on Thursday, Could 7.

— Quick-casual hen restaurant Fields Good Rooster reopens for takeout and supply within the Monetary District immediately. The restaurant may also be obtainable for takeout and supply from its location at Union Sq..

— It’s that point:

I am going to straight up eat a membership sandwich at a cottage and cottage cheese on the membership I actually do not give a shit anymore.

— George Wallace (@MrGeorgeWallace) September 15, 2018



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