FOR IMMEDIATE RELEASE
October 20, 2008
MAYOR BLOOMBERG DISCUSSES HOW NEW YORK CITY IS HELPING SMALL BUSINESSES GET THE FINANCING THEY NEED DURING TOUGH TIMES IN WEEKLY RADIO ADDRESS
The following is the text of Mayor Bloomberg’s weekly radio address as prepared for delivery on 1010 WINS News Radio for Sunday, October 19, 2008
“Good Morning. This is Mayor Mike Bloomberg.
“This morning, I want to say a few words to everyone who owns, who works in, or who relies on goods or services from our city’s small businesses. That covers all of us – because we all depend on the small businesses that are the backbone of our economy, that employ half the city’s private sector workforce, and that are the social glue of our neighborhoods. And right now it’s no secret that small businesses face tough times – especially because, through no fault of their own, so many of them are having trouble getting financing for start-ups or to expand their operations.
“Ultimately, it’s up to the Federal government to end the logjam in the credit market and get our economy moving again. But there’s plenty our Administration is doing, too. Our Department of Small Business Services has a network of NYC Business Solutions Centers throughout the city. They’ve got a great track record of helping small businesses in a variety of ways, like advising them on developing business plans, cutting through bureaucratic red tape, and providing the trained employees that businesses need.
“NYC Business Solutions Centers also work with their clients to get financing from commercial banks or from alternative lenders. In the last year alone, they’ve helped some 170 businesses secure nearly $12 million in loans. Credit is tighter for everyone today, which makes it more important than ever for businesses to put their best foot forward when seeking financing.
“So, last week we launched a new partnership with Chambers of Commerce in all five boroughs. We’re reaching out to small business owners across the city with this message: We can work with you to prepare balance sheets, calculate cash-flow statements, make profit and loss projections, develop the kind of business plans that prospective lenders need to see, package loan applications, and refer you to experts who can help you repair your credit score.
“To find out more about what NYC Business Solutions Centers have to offer, just visit the city’s web site at nyc.gov, or call the 311 citizen service hotline.
“Before signing off this morning, I also want to stress the responsibility that we all have to protect ourselves, our families, and our neighbors against fires in our homes. Eight New Yorkers, including five children, died as a result of two terrible apartment fires last weekend – one in Chelsea, and one in Bushwick. Fire investigators believe that both apartments lacked the working smoke detectors that might have alerted residents in time for them to escape.
“Whether you’re a homeowner or a tenant, it’s up to you to make sure your smoke detectors work. That’s why we normally remind New Yorkers to change smoke detector batteries twice a year – when Daylight Savings Time begins in the spring, and when it ends, as it will two weeks from today on November 2nd. We’ll have a lot more to say about fire safety then. But in light of these recent tragedies: Test your smoke detectors today. If their batteries are run down, replace them. It’s a simple precaution that can save your life.
“This is Mayor Mike Bloomberg. Thanks for listening.”
Stu Loeser (212) 788-2958