The continuous closings of businesses throughout the city has left owners in a tough situation. However, Mayor Bill de Blasio reminded them that a backup plan is offered for the owners to keep their businesses opened.
At a news conference earlier today, he stated that small business grant and loans are offered in New York, according to Pix 11 News. Businesses that consist of five or fewer staffs, and lost 25% or a greater amount of income, the city's grant application is considered eligible for those businesses.
Momentarily, there's been 466 applications, as stated by the mayor. Those applicants who are eligible will be handled professionally by Monday, with money heading to their bank accounts, he also mentioned.
However, it's a different strategy for businesses that has fewer than 100 employees under their company, and have lost 25% or more of income, as loans will be provided. Almost 400 applicants are eligible while the demand of the grant is high, De Blasio mentioned, Pix 11 News also reported.
Furthermore, those applicants will also be taken care of professionally starting this Saturday; and the money is expected to also head for their bank accounts by the end of the week. With demands at a high level, the process may extend longer.