Yonkers steps up efforts to revitalize small businesses

Officials announced the creation of the Yonkers Business Assistance Program on Tuesday.

News 12 Staff

Jul 8, 2020, 10:14 AM

Updated 1,411 days ago

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In Yonkers, officials are taking concrete steps to bring business back to the city now that the Mid-Hudson Valley region is in the final phase of reopening.
Yonkers Mayor Mike Spano unveiled a new marketing campaign today to help the city rebound from the negative economic impacts of the coronavirus.
 
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Spano hopes to convince businesses from the tri-state area to plant their roots in Yonkers and encourage local residents to return to their favorite small businesses. "We have reemerged stronger than ever and Yonkers is special, and I'm so very happy today to say that Yonkers is back to business." Most of which are financially unstable, but have the safety measures in place to care for customers.
?In addition, the city is creating two new business assistance programs for stores negatively impacted by the coronavirus, especially those serving in low income or highly distressed areas. Eligible businesses can get funding through the Yonkers IDA and Community Development Block Grants.
Companies with up to 50 employees are eligible for grants up to $10,000, and no interest loans of up to $25,000.
Micro-enterprise businesses with up to five employees can apply for grants up to $10,000. "That would be to help with any eligible activity. That would include rent, that would include helping to pay vendors as they get back into business, they can meet payroll expenses," says
Applications and more information about the program are available on the city's website.
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