April 14, 2020
A group including the Real Estate Board of New York (REBNY) proposed plans for relief to New York City’s small business community during the COVID-19 pandemic. In a letter to elected leaders, the group outlined four key policies to resuscitate ailing small businesses and revamp the economy.
The policies entail direct financial assistance for rent and mortgages throughout the shutdown, amending the Paycheck Protection Program to allow loans to be forgivable if businesses hire back needed staff, extending business interruption insurance to cover the pandemic and converting sales tax collection into cash grants.
Along with REBNY, the group includes the Bronx Chamber of Commerce, Brooklyn Chamber of Commerce, Greenwich Village Chelsea Chamber of Commerce, Manhattan Chamber of Commerce, NYC BID Association, New York City Hospitality Alliance, NYS Latino Restaurant, Bar & Lounge Association, New York State Restaurant Association, Queens Chamber of Commerce, Staten Island Chamber of Commerce and Tech:NYC.
For comments, questions or concerns, please contact Paul Bubny