The Columbia Emergency Loan Fund for Small Businesses is a relief program that disperses capital to assist small businesses struggling as a result of the coronavirus pandemic. The Fund amplifies Columbia's commitment to support local employment by small businesses in Upper Manhattan.
Loan Applicants must be clients of the Columbia-Harlem Small Business Development Center. To become a client and receive (pro-bono) business support, click here to request business counseling.
Applications Available from June 8 - June 22:
- For Businesses with Revenue under $50k as indicated on 2019 tax return
- Business Location is in Upper Manhattan (North of 96th Street)
- May include Home Based businesses
- Interest rate (1%)
- Term-36 months
- Grace period (12 months. Interest will accrue)
- After 24 on-time monthly payments, business becomes eligible for Loan Balance Forgiveness
- Loan Amount between $500-$5000 (3 months of 2019 revenues up to $5,000)
