City Excludes Parts Of Chinatown From Small Business Pandemic Loans Intended For Lower Income Neighborhoods
arrow The corner of Pell and Doyers Streets in Chinatown, Manhattan on May 15th, 2020. Debra L Rothenberg/Shutterstock
A city pandemic loan program intended to help out small businesses in lower-income neighborhoods and communities of color has left out a swath of Manhattan s Chinatown.
In late November, the city s Department of Small Business Services launched a $35 million low-to-moderate income storefront loan program. Small businesses in certain neighborhoods could receive up to $100,000 in a zero-interest loan. The funds would provide loans for at least 350 businesses across the city, depending on the size of loans allocated.