Mayor Adams’ State of the City – Small Business Services Supporting Entrepreneurs Citywide

On Wednesday, in his third State of the City address, Mayor Eric Adams unveiled an ambitious blueprint for the future of working-class New Yorkers, envisioning a city that is safer, more livable, and more prosperous. “Crime down, jobs up. Finally, something 8.3 million New Yorkers can agree on,”

said Mayor Adams. SBS is proud to do its part with programs that help thousands of entrepreneurs and small business owners across the city.

“One in six New York City businesses has opened since the start of this administration,” said Mayor Eric Adams. “Our city is determined to support our entrepreneurs, and with our record setting $75 million Small Business Opportunity Fund, we have been able to do just that. Great job, [Commissioner Kevin D. Kim].

“Chef Jae Lee is the owner of Nowon, a popular Korean American bar and restaurant in the East Village. When Chef Jae Lee wanted to open a new location in Brooklyn, regular banks wouldn’t give him a fair shake.

“Through the SBS Opportunity Fund, Chef Lee was able to get the small business loan he needed at an affordable interest rate, and now he is employing over 50 New Yorkers and serving up his legendary kimchi cheeseburgers in the East Village and Bushwick.”