Gjonaj: More money for small biz
Councilman demands that federal government secure additional funds
Paul F. Oliveri, Esq.
Wishing good health for you
and your loved ones
BRONX TIMES R 16 EPORTER, APRIL 24-30, 2020 BTR
According to Gjonaj,
the government must
mandate that participating
banks not require an
existing relationship to
accept applications; include
more credit unions
and regional or community
banks to help reach
a broader range of small
and micro businesses;
develop a substantial
outreach program to
include more minority
and women-owned
businesses; increase the
percentage of borrowed
money that can be applied
to rent, mortgage interest
payments and allow payment
of property taxes as
acceptable expenditure
of loan money.
“Politicians often use
platitudes such as ‘economic
engine’ and ‘economic
backbone of our
nation’ to describe the
importance of small businesses
to our country,”
Gjonaj said. “Now is the
time to put action behind
those words. Small businesses
and their employees
demand that you take
immediate action before
it’s too late.”
Gjonaj’s Chief of
Staff Reggie Johnson
spoke with the Bronx
Times about what it has
been like for small business
owners during the
COVID crisis. With the
stimulus money gone,
Johnson questioned how
these people will stay
afl oat.
Johnson noted that
pizzerias and fl orists
should be getting money,
not small hedge fund
companies that make
millions or large steakhouses
like Ruth Chris,
which just received $20
million.
“Right now the small
businesses are struggling
and there’s nothing
there to help them,”
he said.
Johnson said he has
been getting calls every
day from business
owners. One that stood
out was a dentist in the
Bronx who was crying
and brought him to tears
as well. He told him he
was going to have lay
people off who have been
with him for years.
“There are some people
who aren’t going to
be okay,” Johnson remarked.
“It’s hard to have
those conversations.”
According to Johnson,
Gjonaj and the staff
envisioned the coronavirus
would hurt retail but
never this bad.
“We anticipated it,
but you can never truly
appreciate what it’s like
until you have to make
those calls,” he said.
BY JASON COHEN
In just two weeks,
the $350 billion Payroll
Protection Program and
Economic Injury Disaster
Loan for small businesses
ran out of money.
As Chair of the Small
Business Committee for
the City Council, Mark
Gjonaj has heard the
cries from his constituents
and demands the
federal government do
more to help them.
“While I appreciate
that there are valid concerns
on both sides of
the aisle, now is the time
for Washington leaders
to step up and deliver
for small businesses,”
Gjonaj said. “Every day
that these programs go
without funding means
the loss of jobs and the
likelihood that even
more businesses will
never open their doors
again.”
According to data, 19
percent of the jobs in the
borough are in the retail
and restaurant industries.
With many of them
shuttering, many people
in the Bronx are struggling.
While the government
is in the process of securing
an additional $250 billion
for small businesses,
the councilman said that
more needs to be done.
Chair of the Small Business Committee for the City Council,
Mark Gjonaj advocates for more money for small businesses.
File photo
1086662
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