Help is available for businesses damaged by Sandy from these NYC resources.
The federal Small Business Administration offers loans of up to $2 million in disaster areas. They are available to businesses of any size. Interest rates on the 30-year terms are typically 4% for businesses and 3% for nonprofits. You can apply online at DisasterLoan.SBA.gov. Loan application forms can also be downloaded at SBA.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.
Once the application is submitted, the SBA takes 10 days to respond, according to a spokeswoman. However, gathering the required materials is often difficult for small businesses. For help in person, try the Small Business Development Center run jointly by the state and the feds. They can help if you hit roadblocks online.
The city’s Department of Small Business Services, which just set up a Sandy recovery website, has $5 million available to loan to small businesses. Amounts per business are capped at $10,000. For more information, call 311 and ask for NYC Business Solutions, or send in a contact request online. To get a loan, you can also locate one of the NYC Business Solutions Centers listed here:
- 400 E. Fordham Rd., 7th floor, Bronx, N.Y., 10458. Phone: 718-960-7910
- 9 Bond St., 5th floor, Brooklyn, N.Y., 11201. Phone: 347-296-8021
- 79 John St., New York, N.Y., 10038. Phone: 212-618-8914
- 168-25 Jamaica Ave., 2nd floor, Jamaica, N.Y., 11432. Phone: 718-577-2148
- 120 Stuyvesant Place, 3rd floor, Staten Island, N.Y., 10301. Phone: 718-285-8400
- 215 W. 125th St., 6th floor, New York, N.Y., 10027. Phone: 917-493-7243
- 560 W. 181st St., 2nd floor, New York, N.Y., 10033. Phone: 212-928-3400
LOANS FOR HOME OWNERS AND RENTERS
Homeowners and renters can apply for grants and loans by registering online at DisasterAssistance.gov or by mobile device at m.fema.gov. If online or mobile access is unavailable, applicants should call FEMA’s helpline, at 800-621-3362. Those who use the 711-Relay or Video Relay Services should call 800-621-3362. Small businesses can also use those websites to begin their loan applications.
Short-term “swing” office space at Brooklyn Army Terminal is available free of charge for the next 30 days. The city’s Economic Development Corp. has approximately 40,000 square feet of warehouse space available. Call 311 and ask for NYC Business Solutions, or send in a contact request online.
FEMA registration: DisasterAssistance.gov
Small Business Administration: SBA.gov
Agility Recovery Solutions: AgilityRecovery.com
Ready.gov: Offers a variety of downloadable publications covering planning and preparation for disasters and emergencies.
IBHS Open for Business: DisasterSafety.org—Tips on post-Sandy recovery, including how to avoid contractor scams.
NY Small Business Development Centers: NYSSBDC.org
Disaster cleanup: SBA.gov/content/disaster-cleanup
Application for an SBA disaster home or business loan: DisasterLoan.SBA.gov/ela