Street Vendors Get $2M-Plus Boost From Bankers Amid Coronavirus

NEW YORK CITY — Bankers pledged more than $2 million to New York City street vendors in the launch of a program to help the city’s sidewalk sellers.

It won’t just secure lunch for hotshot bankers in Morgan Stanley and Robin Hood, the companies making the donations. About 2,000 food vendors across the city will receive upward of $1,000 each in cash assistance, according to a release.

Mohamed Attia, director of Street Vendor Project of the Urban Justice Center, thanked the companies for their support.

"Rain or shine, New York City's street vendors keep our city running with a hot coffee, a churro or an affordable and nutritious Halal lunch,” he said in a statement. “Vendors come from communities that have been disproportionately impacted by the COVID-19 pandemic in every aspect. They have lost the majority of their income during the pandemic, and despite their critical role in our city's culture and economy, every level of government has left them out in the cold without financial relief.”

The Street Vender Project is conducting the program in partnership with Morgan Stanley and Robin Hood.

Streets vendors contributed $293 million to the city’s economy before the coronavirus crisis, according to a release. Since the pandemic struck, they’ve reported losses of 70 to 90 percent of their earnings.

And, to top things off, many of the 20,000 across New York City are excluded from relief programs, the release states.

Morgan Stanley committed $2 million to the program and Robin Hood contributed an additional $375,000, along with providing help distributing cash and grants.

More information about the program can be found here.