News & Press

NYC Apartment Landlords Seek Federal Help

April 21, 2020

New York City’s multifamily landlords say they need federal help to avoid a devastating blow to the housing system from the economic fallout of the COVID-19 pandemic.

However, they’re seemingly left out in the cold by Small Business Administration lending guidelines that specifically preclude real estate rental businesses. Those guidelines are followed by the $350-billion Paycheck Protection Program enacted last month.

“The guidelines predate COVID-19 and the PPP, but unfortunately the SBA has said those rules determine whether you are eligible,” Anchin’s Marc Wieder told Crain’s New York Business.

Read the complete article on Connect New York