NYC Announces $35 Million In No-Interest Loans For Small Businesses, Encourages New Yorkers To Shop Local

NEW YORK (CBSNewYork) -- City officials are encouraging New Yorkers to shop local as we kick off the holidays.

Mayor Bill de Blasio announced the "Shop Your City" initiative. This comes as many small businesses struggle during the pandemic.

The city also says more aid is coming.

Small businesses in low-to-moderate income communities will be offered $35 million in no-interest loans, and a $700,000 grant will be given to community partners in those neighborhoods.

Applications for the no-interest loans begin Nov. 30.

For more information on the low-to-moderate income storefront loan, click here.

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