A bill that would help the smallest of small businesses tap into much-needed loans and funding has cleared the State Senate and Assembly. Today, the bill’s co-sponsor, State Senator Daniel Squadron, whose district includes the Lower East Side and parts of Greenpoint, Williamsburg and the East Village, gathered with other boosters of the Small Business Support bill to call on Governor Cuomo to sign it into law. The measure calls on the state to prioritize micro-businesses (i.e. those with less than five employees) when awarding Small Business Revolving Loan Fund loans, and would waive application fees for approved “micro-loans” of under $5,000.
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