At the height of the COVID-19 pandemic, opening a business during this time was proven to be no easy feat. Limited income as a result led to the stunted growth of small and micro-businesses. As such business owners are still recovering in a post-pandemic economy and getting back to normalcy, plans to provide financial aid were recently announced by New York Governor Kathy Hochul.
As a reminder to those currently a part of the COVID-19 Economic Injury Disaster Loan (EIDL) program, all borrowers are required to submit regular principal and interest payments, beginning 30 months from the effective date of your loan.