fbpx

Next City: It’s Been a Rough Year for Small Businesses, But Not as Rough as Feared

Next City, March 16, 2021, It’s Been a Rough Year for Small Businesses, But Not as Rough as Feared

Jessie Lee is managing director at Renaissance Economic Development Corporation, the small business lending arm of Asian Americans for Equality, a nonprofit founded in 1974 that serves 20,000 New Yorkers a year, speaking English, Korean, Spanish and multiple Chinese dialects.

Renaissance Economic Development Corporation has made more than $50 million in loans to 1,200 small businesses across New York City since inception in 1997. Lee and her team currently have a portfolio of roughly 460 businesses with $9.4 million in active loans, up from 320 businesses with $7.8 million about a year ago when the pandemic first took hold.

Print Friendly, PDF & Email
Scroll to Top