Most PPP loans for NYC nonprofits concentrated in Manhattan

Paycheck Protection Program loans.
Paycheck Protection Program loans.
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Nonprofits in Manhattan received more PPP loans than those in the other four boroughs of New York City.

Most PPP loans for NYC nonprofits concentrated in Manhattan

More than half of the $2.3 billion allocated to city nonprofits went to those based in borough.
May 2, 2021

Federal Paycheck Protection Program loans have helped keep nonprofits and small businesses afloat throughout the pandemic – and in New York City, most of the PPP dollars and loans set aside for nonprofits have flowed into Manhattan.

A report from the Manhattan Chamber of Commerce released earlier this month found that more than half of the $2.3 billion allocated to city nonprofits went to those based in Manhattan. Organizations in the borough accounted for half of the loans given out to local nonprofits as well.

Nonprofits on Staten Island and in the Bronx received the fewest number of loans and loan amounts overall in the city, receiving $70.7 million and $202 million in federal relief, respectively.

The Paycheck Protection Program is nearing its end, with a deadline set for May 31, though officials from the Small Business Administration say it could run out of funds even sooner. Other federal relief efforts have kicked off, including the Shuttered Venue Operators Grant program, which will aid performing arts organizations, nonprofit museums with auditoriums and other venues. More than 6,000 applications have been submitted for the arts relief program, according to U.S. Senate Majority Leader Chuck Schumer.

NYN Media reporter Kay Dervesh
Kay Dervishi
is a staff reporter at NYN Media.
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