Today, Columbia University’s Columbia-Harlem Small Business Development announced the creation of the Columbia Emergency Loan Fund for Small Businesses.
The fund will bring a relief program that will disperse working capital to assist small businesses in Upper Manhattan struggling as a result of the coronavirus pandemic as New York City enters Phase I of reopening.
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Two loan programs are available; each designed to meet the specific needs of an individual business with loans ranging from $500 to $50,000. Both programs offer low interest rates and a grace period.
Columbia Business School will administer and review applications. Columbia University will make final decisions and distribute the loan funds to selected applicants. The Columbia Harlem SBDC will liaise with selected loan recipients to provide technical support and loan application intake.
For more information about the loan program and technical support offered, please visit the Columbia-Harlem Small Business Development Center website at www.gsb.columbia.edu/sbdc.