New York Times article on sports arena plan, Nov 2001

NYC 9/11 Public Portal Document

D6 L THE NEW YORK TIMES METRO TUESDAY, NOVEMBER 13, 2001

R E G I 0 'N F”

Small Businesses Slow to Grasp Government's Helping Hand Continued From Page DI nomic Development Corporation be­ World Trade, praised the Economic gan offering $5 million in grants of up Development Corporation program , Complaints too of to $10,000 each to non-retail business­ that awarded his company its first puter consulting firm that was es that apply for a small business $10,000 grant. housed in 2 World Trade Center. With 'many programs and loan. Eligible companies who simply “This will help us buy computers,” no files of contacts and customers fill out' an application will immedi­ Mr. Bawaeja said.'“We lost our en­ and still waiting for the refund of his ^cessive paperwork. ately get $2,500, regardless of wheth­ tire database of 2,000 contract manu­ $12,000 security deposit on his trade er the loan is ultimately approved. facturers. We’re trying to contact center office, Mr. Feig said he has The Empire State Development suppliers and customers to tell them, been unable to get his business going sets as collateral for a business loan, Corporation is also offering $20 mil­ ‘Don’t write us off.’ ” again. And until very recently, he yet applying for such a loan is a lion in grants, also of up to $10,000 Now working out of donated space said, “the only way to find out what is requirement to get a city grant. As a apiece, to retail and personal service in Princeton, N.J., the company has 1 available is through a network — if partnership, their physical therapy businesses downtown. Those grants how signed a lease for new offices in t____ you know somebody who’s gotten business has few assets of its own. are available regardless of whether the Empire State Building. assistance, and you happen to hear Professional service providers like a company has applied for a small Other business people have just about it.” physical therapists do not qualify for business loan. begun to feel that help is available. The confusion among sorhe busi­ the state’s grant program. Mean­ ness owners was evident last Although representatives of both City Apparel, a clothing store at while, most of her customers have of those programs were at the mar­ Broadway and Murray Streets that Wednesday, when the city’s Econom­ temporarily relocated, Ms. Messier ketplace event, a steady stream of specializes in women’s large sizes, ic Development Corporation spon­ said, and'travel to her office is all but business owners wandered from one has few winter goods in stock, no Justin Lane for The New YorltTin I sored a marketplace to introduce impossible for, people who cannot- table to another trying to navigate heat in its store and in the days since Dan Batchelor of the Screening Room movie theater and restauranj c agencies offering financial aid to climb subway stairs — understand­ the requirements and specifications its street reopened, few customers. Varrick Street spoke to Sherri Lippowitsch about a state, grant^j businesses in need. At the event, 16 ably, a substantial portion of her of the different grant programs. And different banks or nonprofit and gov­ Yet Ying Yam Ling, the owner, left business. ■*** I ernmental lending institutions were the scope of the problem was made the event Wednesday in better spirits level that would make them more Charles A. Gargano, the chairmi available, offering at least a half “We’re falling through the evident by the fact that while 20,000 than, when she arrived. “I’ve not likely to take out a loan.” of Empire State Development,’hari dozen different loan programs. cracks,” she said. “Any amount we . companies were invited to the forum. gotten any help for the business yet,” The city and state each doled out ed out checks for more than^$75,^ Nineteen nonprofit' agencies of­ can get is just what we already owe,” only 800 'showed up. she said. “But I feel a lot better their first grants last week, while the in grants to small retail and person fered everything from computer and for a $1,000 cellphone bill, for exam­ Mr. Mahmood of Deutsche Bank today. There is a lot of help here.” Small Business Administration had service businesses on Thursda^^ office equipment to marketing help. ple, incurred in the weeks after the suggested that part of the problem Michael Carey, the president of the distributed more than $82 million in of them went to Mitchell Dianwi And 27 different real estate compa­ isaster when telephone service was was that too many political entities Economic Development Corpora­ loans through the first of November. the-owner of Unique Printmg*a nies purveyed information on office out; The office’s computers were were interested in being seen as pro­ tion, said he had grown concerned Now, as the economic slowdown Stationery, an office-supply store' space. damaged by a power surge, which viding direct aid, rather than cooper­ that small business people were be­ continues and the ripples from the Maiden Lane that has been in'bu Nevertheless, some business peo­ she says insurance will not cover, ating with other aid providers to help ing so slow to apply for loans. World Trade Center disaster wash ness since 1929. ■' ple left in despair. “There’s no mon­ and the partners have laid off five of businesses. “People have to stop “If you’ve been out of business for across the .city, it is also clear that Mr. Diamond said he appreclai ey for us,” said Lorraine Messier, a eight employees. thinking about providing resources three weeks, you might understand­ many of the business that were af­ the grant, which he mightius&l partner at New York Physical Ther­ Both the state and the city took and think about building a concerted ably be reluctant to put your assets fected were nowhere near ground marketing and advertising-^mi apy Service, a small business located steps last week to increase the flow effort,’’ he said. on the line for a loan,” Mr. Carey zero. Stores throughout Manhattan helpful, however, would be incenth on Fulton Street near Broadway, of money and services to small busi­ Not all companies were so discour­ said, explaining the reason behind are feeling the pinch, as are car to get customers to buy frorhtdov about a block from the disaster site. nesses in Lower Manhattan. Discour­ aged. Deepak Bawaeja, a senior vice the decision to tie the city’s grant services in Queens. But some aid town businesses. “If we had buslnf Ms. Messier said she and her busi- aged with the number, of companies president of Abhiyen USA, an im­ program to small-business loans. programs — particularly the city going on down there, we would " riess partner, Elaine Kennedy, are seeking loans from the federal Small porter and distributor of vitamins “But we want to help get people over and state grants — are available have to worry about grants* a. reluctant to offer their personal as- Business Administration, the Eco- that was located on the 46th floor of 1 the hump, and give them a comfort only to Lower Manhattan businesses. loans.”

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