Skip to Content
Author: The BCW

Leave a Comment

COVID-19 Loan Fund Available for NYC-Based Businesses

Pursuit has partnered with the City of New York to administer the NYC LMI Storefront loan program for COVID-19 relief. The loans are up to $100,000 at 0% interest with a term of 60 months and no payments required for the first six months. Please spread the word about this important program, which may be a fit for members with businesses in the Bronx.

Basic Eligibility Requirements:

-Operate in an LMI area of NYC

-Employ between 2-99 employees in total across all locations -Have been in operation since January 1, 2018, or before -Be cash flow positive in 2019 and be able to demonstrate the ability to repay -Have no personal or business tax liens or legal judgments within the past three years -Provide a personal guarantee for the loan. All owners of 20% or more of the business must co-sign on the loan and must have an average personal credit score of 625 or higher.

While the program headline includes “Storefront,” the program is not exclusive to retail businesses. The City hopes to target these businesses but it is not a requirement for the business to be a retail operation. – Interested Businesses Can Apply Here for the NYC LMI Storefront loan

Similar Member News Items

Expanding its mortgage lending team, Tompkins Community Bank has appointed Roberto Lupi as mortgage loan officer. He will assist customers on their journey toward homeownership, sharing his expertise in mortgage lending and home equity. “Roberto’s decades of experience in the mortgage industry will be a major asset to our Hudson Valley team,” said Vicki Ide, […]

Read Article

Let’s run/walk for a good cause. Please join us for our 36th Annual Rye YMCA Derby. To Register: NEW THIS YEAR: TEAM CHALLENGE!Team up with friends, family and co-workers to promote health and fitness and have fun! You’ll compete for the prestigious Team Challenge Awards: FASTEST TEAM FASTEST TEAM (5M & 5K) MOST CREATIVE […]

Read Article

Join us May 9th at the Hope’s Door Spring Gala – celebrating the 5th anniversary of the Hope’s Door Legal Center and it’s 1,000th client served. The Hope’s Door Legal Center launched in December 2018 with two attorneys, and supported by a Federal grant, to provide free trauma-informed legal services. This unique approach, rooted in […]

Read Article

Become A Member

Join the county’s largest and most influential business organization today.

The Business Council of Westchester is committed to helping businesses market, learn, advocate, and grow. Over 80 events and programs are offered every year, giving our members ample opportunity to connect and meet with businesses representatives in the Westchester community and beyond.
Back to top