NoHo options for social distance connecting
BY GRANT
LANCASTER
The NoHo Business
Improvement
District created
an email list to share
resources with the Manhattan
neighborhood,
specifi cally for small
businesses struggling
in the COVID-19 pandemic.
Every Tuesday at 2
p.m., members of the
Manhattan Chamber of
Commerce will answer
questions and give advice
to small business
owners in a live webinar.
This week will
focus on rent relief for
small businesses and
unemployment insurance
for solo entrepreneurs.
The email reminded
people that some restaurants,
from local
favorite ATLA to chains
like Chipotle and Wendys
and guilty pleasures
like Donut Pub, are
offering delivery and
takeout to help people
get their favorite meals
while still social dis-
PHOTO VIA GETTY IMAGES
Available loans
for small biz
amid pandemic
BY BETH DEDMAN
Congresswoman
Carolyn Maloney
and representatives
from the Small
Business Administration
held a Q&A panel to answer
questions about the
Paycheck Protection Program,
applying for loans
for small businesses and
potential funding for
needs around the city.
Maloney is pushing for
the Pandemic Reinsurance
Act to set precedents
for how to handle such
far-reaching shutdowns
like the one caused by the
COVID-19 pandemic. In
future pandemics, businesses
should not have to
scramble for funding like
they have had to with this
crisis, Maloney said.
“We have to plan
something to consider
for the future,” Maloney
said.
The Paycheck Protection
Program is a 1% interest
loan for a two-year
term with a six month deferment
period for small
businesses. If businesses
use 75% of the loan to
pay their employees, the
loans are treated more
like a grant that does not
need to be repaid, Maloney
said.
Business-owners can
calculate their loan
amounts by accounting
for salary, wages, commissions
they gained per
month based on employment
records. That number
is multiplied by 2.5
and totals the amount
the business should receive
from their lender.
Lenders are available
through the Small Business
Administration, but
applications should be
sent directly to the lender,
not to the SBA.
Councilwoman Carolyn
Rivera thinks that
small businesses are going
to be the key to economic
recovery from the
crisis.
“Political will to do the
right thing and put the
money directly in your
pockets is our biggest issue,”
Rivera said.
More information
about the SBA is available
at https://www.sba.
gov/.
THANKS TO THE
H e a l t h c a r e h e r o e s
F i r s t r e s p o n d e r s
Po s t a l w o r k e r s
D e l i v e r y p e o p l e
Bank branches
G r o c e r y w o r k e r s
Remote workers
And so man y o t h e r s a t s u c h g r e a t r i s k .
And a special thanks to our customers and associates.
We look forward to “seeing” you again soon!
CHELSEA: 242 W. 23RD�� �� ������ �� �� �� ���� �� �� �� �� �� �� �� �� �� �� �� �� �� ����
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