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 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%)
- Term-60 months
- Grace period (12 months. Interest will accrue)
- After 48 on time monthly payments, business becomes eligible 50% Loan Balance Forgiveness
- Loan Amount between $5,001-$50,000
