SMALL BUSINESS OWNERS AND INDEPENDENT CONTRACTORS: RELIEF THROUGH INTEREST-FREE LOANS IN CITY COUNCIL DISTRICT 39 AND ASSEMBLY DISTRICT 44

From New York City Councilmember Brad Lander:

New Interest-Free Loan Opportunity for District 39 Small Businesses

In conversations with small business owners in our community, I’ve heard so many heartbreaking stories of the difficult choices they are facing. With so much uncertainty, local businesses don’t know how much longer they can pay rent, insurance, and utilities while their stores are shuttered, with little or no revenue. 

So I am glad to share that, thanks to the partnership of the Hebrew Free Loan Society and The Change Reaction, we are launching a new opportunity for small businesses and independent contractors operating in District 39 to receive interest-free loans up to $25,000. 

The Greg Perlman and Michael Clark Small Business Angel Fund at HFLS will offer 0% interest loans between $7500 and $25,000 dollars to businesses with 15 or fewer employees that are currently operating in City Council District 39 (or Assembly District 44). 

These funds are intended to help businesses that are struggling to stay open with reduced revenues. Loans of up to $7,000 will also be available for independent contractors and sole proprietors who are unable to operate due to the current shutdown orders. 

You can read more about the loans and start the application here. 

We are partnering with the office of Assemblymember Robert Carroll and the Hebrew Free Loan Society to offer these loans which are made possible by a generous donation from Greg Perlman and Michael Clark of The Change Reaction. 

The loans will be processed as swiftly as possible, so that we can get money into operations that need it immediately. 

We know that much more is needed to help businesses of all types get through this shutdown and begin to regain stability in the months ahead. 

We will continue to work on other proposals to open up streets for restaurant seating, force insurance companies to pay business interruption insurance, and urge our congressional leaders to address problems with existing federal loan programs. 

But we are glad to be able to offer these loans immediately as a source of support for our neighborhoods.  

Read more about the loans here and reach out to us with your questions at lander@council.nyc.gov. 

Brad

New York City Councilmember Brad Lander

456 Fifth Avenue, 3rd Floor
Brooklyn, NY 11215
718-499-1090 lander@council.nyc.gov