Emergency Loan Fund For Businesses Impacted by Sunnyside Fire
Renaissance has established an emergency loan program for small businesses impacted by the devastating fire in Sunnyside, Queens. The blaze on Dec. 13 destroyed six businesses on Queens Boulevard near 45th Street.
See below for more details.
The New York City Department of Small Business Services will be holding a meeting on Thursday, Dec. 20 in Sunnyside. It will take place at Queens Community Board 2’s office, 44-23 50th St. in Woodside from 11 a.m.-2 p.m. There will be information available for small business owners. Renaissance will be on site to answer any questions buisness owners might have about our loan program.
Sunnyside Fire Recovery Loan Program
For Small Businesses Located:
- North of 47th Avenue between 44th Street 47th Street and
- South of Queens Boulevard between 44th Street 47th Street
To be eligible for a loan under this program, businesses must be impacted by traffic restrictions imposed after the fire and the economic loss must be demonstrated.
1. Uniform 2% Fixed Interest Rate
2. Loan Amount of up to $30,000
3. If borrower prefers, 3-6 months deferment of interest and principal
4. Terms of up to 5 years, including the deferment period
Documentation and Processing:
We will provide loans on an expedited, limit-documentation basis. The following documents are required:
1. Completed loan application;
2. Business registration or certification;
3. Owner’s personal photo identification;
4. Owner’s personal credit report;
5. Most recent Corporation/Sales tax return;
6. Lease and/or old lease verifying the original business location.
Emergency Loan Use:
Loan proceeds must be used as emergency working capital for the borrower’s legitimate business purposes in New York City. Loan proceeds may not be used for construction projects, including leasehold improvement, or the payment of any tax arrearages, governmental fines or penalties.
Deadline: March 15, 2019.
Call now for further information: (212) 964-6022
Renaissance EDC is a nonprofit organization, who is a U.S. Small Business Administration-approved microlender and Community Advantage lender.
REDC is also U.S. Treasury Certified Community Development Financial Institution (CDFI).
Renaissance Economic Development Corporation, An affiliate of Asian Americans for Equality
2 Allen Street, 7th Floor New York, NY 10002, Tel: (212) 964-6022 / Fax: (212) 964-6003