<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/"
     xmlns:dc="http://purl.org/dc/elements/1.1/"
     xmlns:atom="http://www.w3.org/2005/Atom"
     xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
     xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
     xmlns:georss="http://www.georss.org/georss"
     xmlns:geo="http://www.w3.org/2003/01/geo/wgs84_pos#"
     xmlns:media="http://search.yahoo.com/mrss/">
    <channel>
        <title><![CDATA[Brooklyn Chamber of Commerce launches coronavirus loan program]]></title>
        <atom:link href="https://usagag.com/2020/05/05/brooklyn-chamber-of-commerce-launches-coronavirus-loan-program/" rel="self" type="application/rss+xml" />
        <link>https://usagag.com/2020/05/05/brooklyn-chamber-of-commerce-launches-coronavirus-loan-program/</link>
        <lastBuildDate>Tue, 05 May 2020 17:14:44 +0000</lastBuildDate>
        <sy:updatePeriod>hourly</sy:updatePeriod>
        <sy:updateFrequency>1</sy:updateFrequency>
        <generator>https://usagag.com</generator>
        <media:content url="/uploads/2020/05/brooklyn-chamber-of-commerce-launches-coronavirus-loan-program.jpg" medium="image">
            <media:title type="html">Brooklyn Chamber of Commerce launches coronavirus loan program</media:title>
        </media:content>
        <content:encoded><![CDATA[<p>Small businesses in Brooklyn have a new chance to score a coronavirus loan — and they won’t have to negotiate the US government’s Paycheck Protection Program to get it.</p><p>Starting Tuesday, the Brooklyn Chamber of Commerce will give out loans of up to $30,000 to any shop owner who has been hurt by the pandemic and was <strong>shut out of the US Small Business Administration’s program</strong>, The Post has learned.</p><p>The Bring Back Brooklyn Fund raised $125,000 for no-interest loans for as little as $500 and with few strings attached. Restaurants, bars, coffee shops, hair salons, daycare centers, gyms and others are required to repay the loans based on a flexible time frame. Money from repaid loans will, in turn, be lent to other businesses, Brooklyn Chamber officials said.</p><p>Ordinary Brooklynites can contribute to the fund, which was started with contributions from local merchant associations. The goal is to raise as much as half a million dollars, say officials.</p><p>“In 2008 Main Street bailed out Wall Street. Today, who is going to bail out Main Street?” Randy Peers, CEO of the Brooklyn Chamber of Commerce said in a statement.</p><p>Nearly 85 percent of Brooklyn businesses that applied for <strong>PPP loans</strong> did not receive funds, according to a recent survey by the Brooklyn Chamber. The stats were even worse for minority and women-owned businesses, with 90 percent of applicants not receiving loans.</p><p>The funds will be administered through the Brooklyn Chamber’s Community Development Financial Institution (CDFI) program, which offers microloans to Brooklyn small businesses that typically do not qualify for bank loans.</p><p>To be eligible, a business has to show that it does not qualify for other commercial loans and plans to reopen their business in Brooklyn.</p>]]></content:encoded>
                <dc:creator><![CDATA[USAGAG]]></dc:creator>
            </channel>
</rss><!--Time: 0.020986080169678-->