Federal Loan Deadline Looms For Hurricane Sandy Victims
Small Business Association has already approved more than a half billion dollars for home and business owners
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An April 1 deadline is approaching for New Jersey home and business owners seeking federal aid for damages wrought by Hurricane Sandy last year.
The Small Business Association has already approved 9,562 disaster loans worth $631 million to Hurricane Sandy victims, they said Wednesday.
Of that total, 8,754 loans for $548 million went to homeowners and renters, while business owners have received 808 loans for $83 million, according to an official with the SBA.
In Essex County, over $4.1 million has been approved for 94 home loans and 25 business loans.
The federal government late last year offered low-interest loans to owners of homes and small businesses in Essex County for damage or other losses related to Hurricane Sandy — up to $200,000 to homeowners and $2 million are available for small businesses looking to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
Anyone interested in applying for one of the loans can also visit the SBA website or call 800-659-2955.
Cassy Mills
8:34 pm on Thursday, March 21, 2013
I really did not know that this option is still available. I mean that many families have just figured some things out, even though a reasonable amount of time has passed. So I am sure they are going to require some financial assistance to restore their businesses that has been significantly damaged by Hurricane Sandy. I wish it was just as easy as applying for cash advance online : http://cashadvancesus.com/ or a similarly small credit union. But when it comes to running a business and loans connected to it, things get pretty complicated.