New York launching $100 MILLION small business loan program for those facing ‘toughest challenges’ during virus pandemic – The Sun

NEW York state will launch a $100 million small business loan program for those facing the "toughest challenges" during the coronavirus crisis.

Gov Andrew Cuomo told reporters on Friday that small businesses are taking "a real beating" and that economic projections are "frightening."

The New York Forward Loan Fund will offer loans to help small businesses that did not receive federal COVID-19 help.

"Many small businesses just don't have the staying power," Cuomo said during the press briefing.

"They are 90 percent of New York state's businesses and they are facing the toughest challenges."

Many small businesses have struggled to get assistance that was promised in the $2 trillion CARES Act signed by President Trump earlier this year.

There have been about 350,000 confirmed coronavirus cases in New York state, with 23,000 deaths.

Source: Read Full Article