You are reading

Businesses Destroyed in Flushing Blaze Last Week Can Tap Into Newly-Established Emergency Loan Fund

A large fire tore through a Flushing mall early Thursday that houses 30 kiosks (Photo FDNY)

An emergency loan fund has been established to help businesses impacted by a large fire, pictured, at 40-10 Main St. Thursday (Photo: FDNY)

March 23, 2022 By Michael Dorgan

Two non-profits with a large presence in Flushing have come together to support more than 30 businesses that were destroyed by a large fire on Main Street last week.

Asian Americans for Equality (AAFE) and the Renaissance Economic Development Corp. (REDC), two Manhattan-based organizations with offices in Flushing, have established a $1 million loan fund to help business owners recover from the blaze that tore through a mall last Thursday.

The businesses were gutted by the five-alarm fire at 40-10 Main St. which burned for hours and caused the mall’s ceiling to collapse. The FDNY has not revealed what caused the fire.

The fund, called the Flushing Downtown Fire Emergency Loan Program, was announced Monday and makes up to $50,000 available to each business impacted by the fire. The program aims to help owners relocate and reopen their businesses as soon as possible.

“Our staff is standing by… to begin working with small business owners and we will be here every day until each and every small business in need of assistance receives it,” said Jessie Lee, the managing director of REDC. The non-profit provides low-interest loans, grants and training to immigrant small business owners.

The REDC is partnering with the AAFE to oversee the emergency loan program. The AAFE provides affordable housing for Asian Americans and various disadvantaged communities as well as low-interest loans to immigrant entrepreneurs.

An aerial view of the damage caused by the fire (Photo via Queens Council Member Sandra Ung Twitter page  @CMSandraUng)

The emergency loans come with a 2 percent fixed interest rate with terms of up to five years available. Surrounding businesses that were closed or disrupted by road closures due to the fire can also access the funds.

Queens Council Member Sandra Ung, who was at the scene of the fire throughout the day last Thursday, welcomed news about the emergency loan program.

“This was a truly devastating event and we are going to have to utilize all the resources at our disposal… to help these small businesses recover,’ Ung said.

“The Flushing Downtown Fire Emergency Loan Program is an important part of that recovery.”

Business owners interested in applying for a loan from the program can click here.

A view of the exterior damage caused by the fire (Photo via Queens Council Member Sandra Ung Twitter page  @CMSandraUng)

email the author: news@queenspost.com
No comments yet

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

NYPD releases video of suspects behind swastika graffiti in snow at St. John’s University

The NYPD’s Hate Crimes Task Force is investigating a case of aggravated harassment on the St. John’s University campus in Hillcrest at 80-00 Utopia Parkway last month.

Police from the 107th Precinct in Fresh Meadows reported that two unidentified men drew two swastikas in the snow in front of Newman Hall, the administrative building formerly known as Perboye Hall, at around 5:15 p.m. on Friday, Jan. 24.

Hundreds gather for Lunar New Year celebration at Queens Borough Hall

Feb. 5, 2025 By Athena Dawson

Hundreds of celebrants gathered at Queens Borough Hall’s Helen Marshall Cultural Center on Thursday, Jan 30, to celebrate the Lunar New Year. Queens residents from the Asian diaspora came together to celebrate the festive holiday. Many locals donned red, a symbol of prosperity, and their traditional attire, including Korean hanbok, Chinese qipao, and Vietnamese áo dài. 

Run through the cold: 4 February races in Queens to help keep your New Year’s resolutions

Feb. 4, 2025 By Paulina Albarracin

Amid the busy month of February, with Valentine’s Day, President’s Day, and even snow days, it can be easy to lose track of your running schedule. During these cold winter months, the urge to stay indoors and avoid the harsh winds is strong. However, having the support of friends, family, and the local community can be the motivation needed to lace up your running shoes and push forward. Stay committed to your New Year’s resolutions and sign up for these races in Queens this month, some of which benefit important causes.

Karaoke dispute turns violent as woman attacks man over microphone: NYPD

Police from the 109th Precinct in Flushing are looking for a crazed karaoke singer who attacked a 24-year-old man during the early morning hours of Monday, Jan. 20, and remains at large.

The assault occurred at 4 a.m. inside the 9Plus KTV & Party Lounge, located at 136-28 39th Ave., when a blonde woman began arguing with the victim over a karaoke microphone. The suspect picked up a metal drink pitcher and smashed him in the head with it, causing serious physical injury to the victim, police said Monday.