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Brooklyn Chamber Launches Loan Program for Small Businesses

The Brooklyn Chamber of Commerce is launching the “Bring Back Brooklyn Fund,” a no-interest loan program aimed at helping the borough’s small businesses that have been hurt by the COVID-19 pandemic. The program will provide loans up to $30,000 for Brooklyn neighborhood businesses that are operating amid the shutdown or plan to reopen when the shutdown is lifted.

Sixty-five percent of funds will target Minority and Women-Owned Businesses (MWBEs). The fund was created in response to a chamber survey released in April that found 84% of Brooklyn businesses that applied for the federal Paycheck Protection Program hadn’t received funds, and 90% of MWBEs hadn’t received funds.

“Brooklyn Alliance Capital and Community Development Financial Institution programs across the five boroughs are key to community level economic development, and their importance has only been magnified during the COVID-19 crisis,” said Investors Bank’s Ana Oliveira, who chairs the chamber’s board.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy
  • ◦Financing