NYC Apartment Landlords Seek Federal HelpAnchin in the NewsApril 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.
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