No Shutdown for Microbusinesses in NYC
No Shutdown for Microbusinesses in NYC
While we are celebrating the good news that our IDA Program for Refugees has been refunded by the Office of Refugee Resettlement (ORR) 
and that the US Dept.of Treasury’s CDFI Fund has refunded our Microenterprise Loan Fund, we have been working hard to make sure that we have sufficient funds to see us through the government shutdown. We have enough for our current clients, but if the shutdown continues we could find ourselves running out of funds for loan.
The stark reality for many of our clients is that, if they shut down their business for even a few days, it means a loss of income that causes a ripple effect; it translates into letting workers go, buying less from their vendors and, more often than not, cutting down personal expenses. Because we are now a global economy, this ripple effect in the local economy has national – and international – ramifications.
At BCNA, we are hoping that Congress works to resolve this shutdown – which is devastating to many small and micro-entrepreneurs – as soon as possible so America’s hardest working entrepreneurs can get back to work.