Several Resources Available to Help Business Owners Recover from Sandy

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Release date: 
December 27, 2012
Release Number: 
NR-118

NEW YORK ­­­­– Getting local businesses back up and running is a key part of a community’s recovery after a disaster. Several of FEMA’s federal, state, local and private sector partners have programs in place to support New York businesses after Hurricane Sandy:

The U.S. Small Business Administration (SBA) has low-interest loans available for businesses and most private nonprofits for up to $2 million dollars for physical property losses. Small businesses and most private nonprofits can also apply for economic injury loans for up to

$2 million. Interested businesses can apply at any of the State/FEMA Disaster Recovery Centers, SBA Business Recovery Centers, online at https://disasterloan.sba.gov/ela or contact the SBA at 800-659-2955.

NYC Economic Development Corporation established a Hurricane Sandy Emergency Loan Fund to support NYC small businesses with their recovery and clean-up efforts. This loan program will provide $10 million in low-interest loans to businesses, ranging from

$5,000 - $25,000 for each loan. Funds can be used to replace or repair damaged assets, or to make up for working capital losses incurred due to business interruption. For additional details and information on how to apply, businesses should visit: http://www.nybdc.com/HurricaneSandySmallBusinessReliefFund.html.

Suffolk County Industrial Development Agency’s Emergency Sales Tax Relief Program gives an exemption of State and County Sales Tax of 8.625 percent to small businesses in Suffolk County on purchases up to $100,000 for building materials or replacing damaged equipment.  Businesses can visit: www.suffolkIDA.org or call 631-853-4802 for additional information or to fill out an application.

National Grid Hurricane Sandy Relief Program provides grants up to $250,000 to National Grid commercial, industrial or multi-family residential gas customers that were impacted by Hurricane Sandy. Eligible customers can use program funds for energy infrastructure repairs or replacement, rehabilitation of buildings, and costs associated with replacement of machinery or equipment necessary for the operation of the businesses. Funding consideration will be based on documented financial need and impact to the community. To determine eligibility and for additional information, customers should contact National Grid at 855-496-9359.

For more information on New York’s disaster recovery, visit www.fema.gov/SandyNY, http://twitter.com/FEMASandy, www.facebook.com/FEMASandy and www.fema.gov/blog.

Last Updated: 
December 27, 2012 - 09:05
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