Archives of the Mayor's Press Office

Mayor Rudolph W. Giuliani today announced the creation of a $5 million grant program for eligible small businesses suffering from the effects of the World Trade Center attack. The Lower Manhattan Grant Program will small assist businesses displaced from the World Trade Center area. The program will be administered on behalf of the City by the New York Economic Development Corporation (EDC).

"As New York City continues its steady recovery from the attack of September 11th, we're committed to helping as many businesses as possible in their efforts to move forward," said Mayor Giuliani. "It is imperative that affected companies and non-profits get the kind of support they need to get back to the business of doing business in this City. This grant program will provide the assistance needed to achieve that goal."

Grants of up to $10,000 will be provided to companies with 50 workers or less that apply for disaster assistance loans. Grant funds may be used to reopen businesses or defray the costs relocating from the World Trade Center area to elsewhere in New York City. The Lower Manhattan Grant Program will complement the $250 million WTC Disaster Recovery Loan program established previously by the City, State, and local banks. It will also supplement the $20 million grant program for affected retailers announced today by Empire State Development.

Business owners can apply for the grants and receive other business services at the Business Assistance Marketplace on November 7thsponsored by the New York City Economic Development Corporation (EDC), on behalf of the City. The Marketplace will bring business owners affected by the World Trade Center attacks together with organizations that can help them recover. It will take place from 10:00 a.m. to 2:00 p.m., at the Regent Wall Street Hotel at 55 Wall Street in the Financial District.

Businesses can also apply for the grant program by calling 886-227-0458 or e-mailing info@newyorkbiz.com. Please put WTC Grants in the subject line.

Approximately 50 organizations have signed up to participate in the Business Assistance Marketplace on Wednesday, including real estate and office suite companies, banks and non-profit lending institutions, utility companies, real estate and office supply matching services. Lawyers, accountants and financial counselors will also be available to provide pro bono services. City, State, and Federal agencies, including the Small Business Administration, will distribute applications for assistance.

Pre-registration is strongly recommended. Companies can pre-register for priority appointments and receive the latest information and list of participating service providers at www.newyorkbiz.com/marketplace.

"Businesses that attend the Marketplace will find valuable assistance and comprehensive range of information and services," said Robert M. Harding, Deputy Mayor for Economic Development and Finance. "Our new grant program will also play an important role in helping these small businesses to recover and get back to work."

"I am pleased that the EDC is a part of these two important initiatives," said EDC President Michael Carey. "By working together with so many diverse entities, we will accomplish our goal of making Lower Manhattan even better than it was before September 11th."

EDC is the City's primary vehicle for economic development services. Using its real estate and financial resources, EDC helps business to expand and create jobs throughout the five boroughs.

www.nyc.gov