NYC Comptroller Scott Stringer trashes de Blasio effort to help compact firms get PPP loans

The de Blasio administration enable down having difficulties mom-and-pop outlets in conditions of assisting them use for federal financial loans, Comptroller Scott Stringer reported Wednesday.


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He named on the metropolis to enhance door-to-doorway outreach and take other measures as the feds open up up a second spherical of Paycheck Protection Program, or PPP, loans this week.

Just 12% of suitable businesses in the city received a PPP bank loan during the to start with spherical, according to the comptroller, who known as that level “unacceptable.”

“The metropolis unsuccessful our little firms the first time around, but we have a different probability,” Stringer stated, noting $284 billion in forgivable loans are now up for grabs.

He known as on the metropolis to advise far more enterprises of how to do the complicated paperwork, as a result of techniques like partnering with small business improvement districts and superior, aged-fashioned door knocking. He also wants to see a “a extensive record of all the monetary institutions that are administering the PPP.”

Previously Wednesday, Mayor de Blasio declared a new exertion to enable city businesses get the loans, by way of everyday webinars, one particular-on-a person direction and connections to PPP loan companies.

Stringer, who’s operating for mayor, dismissed the undertaking.

“I’m glad that they observed us coming and they’re inclined to meet up with us midway, but I feel there has to be much more completed,” he claimed. “If you’re not proactive, banging on doors, if you are not truly calling up, inviting folks in, a webinar will just be a Zoom that no a single will take part in.”

De Blasio spokesman Bill Neidhardt turned down the criticism.

“Was this press convention held by Comptroller Stringer or Applicant Stringer? Difficult to explain to these times,” Neidhardt explained in an e-mail. “He’s jogging for workplace, we’re really supplying connections for compact organizations to the federal federal government.”

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