The Riverdale Press

Keyword: loans

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Bobby Patel, owner of Te-Amo Convenience Store at Broadway and West 231st Street, says loans from his family allowed him to open his business. Now, months into the coronavirus pandemic, he’s not so sure loans will be enough to save it.

Capital critical for small biz, but it might not be enough

Earning a line of credit with a bank can be critical to opening — and maintaining — small businesses as it gives them access to loans that could be used to keep the lights on, especially in the early years of an enterprise before they can actually turn a profit. more

By KIRSTYN BRENDLEN | 11/8/20

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