NYC Council Introduction 694

intro.nyc/0694-2022 2022-2023 Legislative Session
Provision of interest-free loans to small businesses, non-profits and freelance workers following certain emergency circumstances.
Status: Filed (End of Session) Committee on Small Business
Sponsored by Public Advocate Jumaane Williams
Introduced: September 14, 2022

This bill would require the Department of Small Business Services to create an interest-free loan program for small businesses, non-profit organizations and freelance workers forced to close or operate at reduced capacity due to the impacts of a natural disaster, state of emergency or other emergency circumstances. Qualifying small businesses would be able to use these loans for operating expenses such as rent, payroll, insurance, equipment and inventory costs.

Sponsors: 9