The Adams administration has connected businesses to nearly $294 million worth of loans and grants as the city sees a record number of small businesses.
Monday, February 10, 2025 10:51PM
Phil Taitt talks 1-on-1 with Mayor Adams about small businesses.
HARLEM, Manhattan (WABC) — Mayor Eric Adams has hit plate full, managing the day-to-day business of the city, but on Monday he took some time for some R&R.
Adams toured Harlem Zen, a wellness spa owned by Angela McTair. The small business was able to upgrade from a suit of nearly 10 years to a brick and mortar store thanks to a $60,000 loan through the largest public private fund.
The Adams administration has invested $85 million into the bucket for businesses just like McTair’s.
“With help like what you gave us, we were able to upgrade to this machine that you’ll be experiencing today,” McTair said.
Adams spoke exclusively with Eyewitness News while McTair performed a 10-minute laser hair removal procedure.
“When I’m able to come into the community and say we did these policies, we put these millions of dollars in, now let’s go see the result,” Adams said.
According to the mayor’s office, 80% of the over 1,000 businesses that have benefited from the fund were Black Indigenous People of Color.
That comes as the city hit a record of 183,000 small businesses.
“We have one out of five small businesses open under this administration, we have broke the record for the most business here in our city’s history, eight times straight, when you look how we inherited the city and the level of uncertainty because of COVID and you saw real management,” Adams said.
While entrepreneurship is no easy task, for McTair, she said the low interest loan was paramount for the Harlem business.
“To have the cushion to go forward and be in a space where we’re moving the business forward but not in this high-stress full-on panic,” McTair said.
For Mayor Adams, he says he’ll be back.
The Adams administration has connected businesses to nearly $294 million worth of loans and grants as the city sees a record number of small businesses.
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The Adams administration has connected businesses to nearly $294 million worth of loans and grants as the city sees a record number of small businesses.
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