NYP Establishes $10 Million Fund to Aid Local Businesses
March 30, 2020
It’s the community v. COVID-19.
A new grant program established by New York-Presbyterian Hospital (NYP) will award up to $10 million in grants to Northern Manhattan businesses hit hard by the coronavirus pandemic.
The grant program is designed to provide emergency cash assistance to businesses, non-profits and partnerships taking a financial hit or fighting for survival due to the virus.
“We must mobilize now, and do all we can, to help our businesses and community organizations during this trying time,” said Luis Miranda, who will chair the initiative’s Advisory Board. “The sooner we act, the sooner critical resources will actually reach and help those in greatest need.”
The fund is being administered in partnership with the Hispanic Federation (HF), which will serve as fiscal conduit.
“We know that if these businesses don’t get aid very quickly, they will close and will probably close for good,” said HF President Frankie Miranda (no relation).
Emergency relief funds totaling up to $2 million will be disbursed within the next 30-90 days.