
Councilmember Carlina Rivera announced the new tools for small businesses in front of vacant storefronts on East 9th Street last week. (Photos courtesy of Councilmember Rivera’s office)
By Maria Rocha-Buschel
City Councilmember Carlina Rivera joined neighborhood organizations outside vacant storefronts on East 9th Street on Tuesday, July 30 to announce new initiatives to help small businesses in the East Village, including an app that connects residents to local businesses in the neighborhood.
Renaissance EDC, Asian Americans for Equality, Village Alliance, Cooper Square Committee, East Village Community Coalition and the East Village Independent Merchants Association joined Rivera for the announcement that the East Village Revitalization Loan Fund will be offering East Village business owners the opportunity to borrow up to $50,000 with fixed interest rates lower than what small business owners would be able to secure through a normal loan provider. Renaissance EDC is an affiliate of Asian Americans for Equality.
The loans can be used for restocking inventory, purchasing new equipment or furniture, payroll, storefront improvements or renovations, marketing and other typical high-cost capital needs.