UMEZ enrolls seven small businesses into IRRG Program

Between January 6, 2021, and September 27, 2021, the Upper Manhattan Empowerment Zone Development Corporation (UMEZ) successfully enrolled seven eligible small businesses in the New York City Small Business Services Interest Rate Reduction Grant Program (IRRG) during this period.

IRRG reduces the interest charges small business owners owe on existing loans to select Community Development Financial Institutions (CDFIs), including UMEZ. This grant frees up cash flow to help restart or maintain operations, and the proceeds interest savings can be used to help businesses renew or continue operations after the challenges of COVID-19. The last day to enroll was December 31, 2021.