While the outer boroughs have been disproportionately hit by the COVID-19 pandemic, small businesses in Manhattan have gotten the majority of assistance from the city.
According to the city's Small Business Services agency on Wednesday, around $8 million of the $20 million loan program for struggling small businesses has been disbursed, with 66 percent going to Manhattan-based shops. Bronx business owners have received less than one percent—around $80,000—while those in Brooklyn, Queens and Staten Island have received 18 percent, 9 percent, and 5 percent, respectively.
The figures, revealed by the SBS commissioner Gregg Bishop during a New York City Council Small Business Committee hearing on Wednesday, agitated chair and Bronx Councilmember Mark Gjonaj.
“One percent of the loans went to the borough of the Bronx and 66% went to Manhattan?” Gjonaj asked . “And we know that most of these small businesses exist in the outer boroughs, so already we see a huge disparity here on how these loans are being [disbursed].”
The program is part of a $49 million loan and grant program created by the de Blasio administration to serve as a lifeline to businesses struggling to remain open after the pandemic—$10 million in loans and $39 million in grants.
Of the $39 million in grants, $29 million has been disbursed; 3 percent has gone to Bronx and Staten Island businesses respectively, 16 percent to businesses in Queens, 25 percent to shops in Brooklyn, and 53 percent to businesses in Manhattan.
QC Reader said...
Working off the books and not reporting income has consequences !
I had my business in Queens for over 50 years. I moved ito NJ 5 years ago. The city couldn't give a shit about small biz. THe refused to ticket or tow those who blocked my (taxed and paid for) commercial drive way, ignored my when I asked for help in just getting on a list to be able to sell to the board of ed...hell, even my local council member who promised to help didn't do much. And...the education system is failing big time. Kids who were born here who care barley write or communicate well.
If this was 60 years ago and you could operate a factory in NYC, well, it would be great, but why would we stay?
QC Reader said... More AOC News...
Warren & AOC’s Idiotic Plan To Halt Corporate Mergers During Crisis !
Nancy Pelosi's ice cream must cause severe brain freeze.
Excellent point--when all of your employees are off the books and your revenue is off the books, how can you expect to get anything from a program like this? You can't partially live in the shadows--if you don't contribute to the system, you shouldn't take from the system.
QC Reader said...
Had to stop at the local Walmart today. It was PACKED. Just goes to show you how unethical this lockdown is. I can go to a packed Walmart to buy art supplies but I cant go to the tiny local art store to buy art supplies. The disproportionate hit to small businesses is terrible.
Most of these politicians pushing the lockdown are almost certainly on the take from big business who wanna see their small competitors snuffed out. The useful idiots dont have the brain power to understand supply chains and macroeconomics
We all know that the illegal aliens and their over lords only pay off the books in cash. If they have nothing, no bank records or legitimate receipts to back up their expenses how can they apply for government grants?
Stop Crying for them. The mamacita's get every known government benefit including section 8 and other monthly housing subsidies that low income white Americans are denied. The fathers of these many children your taxes are paying to raise, support their households, but the mothers lie to get the benefits.
Oh thank you so very much AOC child of the wealthy suburbs.
Did any of you actually think The trump administration would take care of any business's in Queens.
Please grow up.
Your favorite deli, florists ,bar, restaurants
Does this mean the Korean Happy Endings "spas" and the dancers (whores) on Roosevelt Avenue in Jackson Heights have closed up shop?
"The trump administration would take care of any business's in Queens."
Back on the #TDS Meds son...
Leftists IGNORE Science And Keep Pushing More Lockdowns, NYC Mayor De Bozo Says They Won't Reopen Until SEPTEMBER !
Alexandra Occasional-Cortex said...
"If big corporations don't pay taxes but they're getting bailed out by the federal government, why are we cutting out undocumented people who are actually paying taxes" Because they’re illegals ! She is Stupid as it gets but shame on the NY Voters who put her in office.
Undocumented immigrants should be deported immediately. No sense in keeping them around during the pandemic.
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