Taking Care of Business: U.S. SBA Helps Business Owners Get Back to Work

Joan Guido and the Foro Marble Company staff watched in horror and disbelief from a bridge near their Brooklyn production facility as the second plane exploded into the World Trade Center tower and then as the towers toppled and disappeared from the skyline.

Like many others attempting to recover from the day no one will forget, Joan and her husband, Joe, soon realized the impact 9/11 would have on their business. "This business is my life," said Joe. "It's like one of my children. After September 11, we had complete cancellations and business stopped."

Manufacturers of custom marble and granite countertops, mantles, floors, and vanity tops, the Guidos were forced to close their Manhattan showroom and downsize their staff. "We made a conscious effort to wait until after the holidays to lay off staff," says Joan.

At a community meeting in January, Joe learned that the U.S. Small Business Administration (SBA) was offering low-interest loans to renters, homeowners and business owners whose operations had suffered as a result of the September 11 attacks. He was impressed with the FEMA and SBA staff and how quickly his SBA loan was approved.

"Everyone was pleasant, accommodating and helpful," says Joe. "FEMA employees guided me through the assistance process and SBA staff helped with questions about filling out the loan application. The $140,000 SBA loan provided working capital that helped our cash flow and enabled us to meet ongoing expenses."

The Guidos' loan is part of the more than $906 million SBA has issued in response to the tragic events of September 11.

As early as September 12, SBA representatives were working in the FEMA disaster office as well as going door-to-door, distributing loan applications and answering questions from those impacted by the attack.

"It was important that the public knew we were on the job and processing applications as quickly as possible," said Wade Butler, SBA assistant area director of field operations, who orchestrated the SBA's response to the disaster. "We processed and approved the first loans on September 15."

Butler worked tirelessly seven days a week from September 14 until the end of February, meeting with emergency management officials and directing SBA's response to the disaster. He attributes the SBA's success in servicing the more than 47,000 applicants to its working relationship with FEMA.

"We were helped substantially by FEMA and could not have done this without the partnership we have," said Butler. "SBA and FEMA work well together and responding to New York shows just how well this partnership works."

"New Yorkers are determined that our city will continue to be a great place to live and do business. With FEMA's continuing support, we will surpass even our highest expectations for the future."
-- New York City Mayor Michael Bloomberg