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 hereto request business counseling.
Applications Available beginning July 1st:
For Independently Owned, Locally Managed Businesses with fewer than 50 employees to adapt new business model
Must be a Storefront**
The business must be located north of 96th Street
Interest rate (3.75%)
Grace period (12 months. Interest will accrue)
After 48 on time monthly payments, business becomes eligible 50% Loan Balance Forgiveness