NYC Interest Rate Reduction Grant
 

The Interest Rate Reduction Grant reduces the interest expense owed by small business owners on existing loans with eleven Community Development Financial Institutions (CDFI) who work primarily with Asian, Black, Latinx, and immigrant business owners​, freeing up cash flow to help restart or maintain operations. Businesses must have an existing loan with a participating CDFI, which will confirm if the business is eligible to apply. Check our blog post for a list of the eleven participating CDFIs.​