David Buchwald Introduces Legislation to Provide No-Interest Loans to Small Businesses, Non-Profits

WESTCHESTER, N.Y. -- New York State Assemblymember David Buchwald, Democrat running in New York’s 17th Congressional District to represent Rockland and Westchester Counties, introduced legislation this week to provide interest-free loans for small businesses and non-profits. 

“We are living in a very uncertain and difficult moment, and New Yorkers working for small businesses and non-profits need action,” said Buchwald. “Our small businesses drive our local economy and our non-profits provide vital services for our communities -- we cannot afford to fail them now. I am proud to sponsor this legislation and I am committed to delivering solutions for New Yorkers during this pandemic.”

The legislation can be found . Under this bill, small businesses and non-profits could apply for no-interest loans up to $75,000 if their business or non-profit has suffered a 25% or greater loss due to the coronavirus pandemic.

Raised in Westchester, Buchwald is in his fourth term as a member of the New York State Assembly and has sponsored 70 pieces of legislation that have become law. Previously, he served on the White Plains Common Council, worked as an economics researcher on antitrust issues, and practiced tax law in New York.