Entrepreneurs

While some city councils are discussion their recent Easter egg hunts The New York City Council is launching a city wide initiative to increase lending and help pull small businesses that are struggling in the recent recession above water.

The city of New York is holding a credit fair May 5 from 9:30 a.m. to 12:30 p.m. At the fair there will be a "forum for alternative lenders to provide technical assistance and counseling so small businesses owners know how to properly apply for a loan," according to a press relase from The New York City Council website.

Small business owners are invited to attend to receive advice and help, loans being one of the options available to them.

Some of the companies attending that will be loaning to the small businesses include: Accion USA, Chase Bank, Citibank, New York State Small Business Development Center, NYC Business Solutions, and at least ten other companies.

Leroy Comrie, Queens delegation chairman and Council Member was quoted as saying, "I've reached out to hundreds of small business owners in the Southeast Queens community and I'm sure they will benefit from this fair... I firmly believe that the Credit Fair is a step in the right direction for our borough's business community," as stated on the The New York City Council press room website, http://www.council.nyc.gov/html/releases/01_26_11_credit.shtml.

Applicants applying must meet the U.S. Small Business Administration eligibility requirements and also agree to seek business counseling from the regional Small Business Development Center. The program has already been successfully implemented in other parts of the State.

To read more visit The New York City Council website:

http://www.council.nyc.gov/html/releases/01_26_11_credit.shtml