Sen. Roxanne J. Persaud (D-Canarsie, East New York, Brownsville, Mill Basin, Sheepshead Bay, Bergen Beach, Marine Park, Flatlands, Mill Island, Georgetown, Ocean Hill, and Starrett City) and the Senate Democratic Majority this week will advance legislation to boost small businesses across the state and help grow New York’s economy.
Persaud, the Guyanese-born representative for the 19th Senatorial District, said small businesses are often unable to get the necessary funds to grow and remain unaware of state assistance that is available to them.
She said the legislation being advanced by the Senate Majority will help small businesses by closing the information gap and improving small businesses’ access to state capital assistance.
Additionally, Persaud said these bills will create crime prevention services for small businesses and increase reporting on potentially negative effects new rules and regulations may have on small businesses across New York.
“In New York, we support New Yorkers and their pursuit to start their own business,” she said. “This week, my colleagues and I are passing legislation that will aid current and future small businesses to ensure that they have the necessary support and resources to grow and prosper.
“I am proud to support these measures, and thank my colleagues for their continued investment in reassuring our small businesses succeed,” she added.
The legislation being advanced by the Senate Majority includes: Small Business Regional Revolving Fund that allows the fund to be used for new loans for microenterprises and refinancing of existing loans; Small Business Assistance Programs List that directs Empire State Development to compile and maintain a list of small business assistance programs and have it available on their website; Department of State Confirmation Receipts that requires the Department of State to send confirmation receipts by mail and email, as well as include contact information of relevant regional offices and resources available to support and assist new businesses; and the Small Business Crime Prevention Services that establishes the small business crime prevention services program to provide small businesses with resources to prevent crimes affecting small businesses.
Additionally, the Small Business Crime Prevention Services bill authorizes Empire State Development to provide loans to small business municipalities, not-for-profit corporations or other organizations for preventing crimes against small businesses.