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SBA Approves More than $150 Million in Disaster Loans To Hurricane Sandy Survivors

Release Date: 
Friday, December 7, 2012
Release Number: 
Advisory Number: 
Carol Chastang (202) 205-6987

WASHINGTON – A month after Hurricane Sandy devastated the East Coast, the U.S. Small Business Administration has approved more than $150 million in low-interest disaster loans to about 2,500 homeowners, renters and businesses in New York, New Jersey, Connecticut and Rhode Island. 

“During the past month I’ve visited disaster centers and spoken with people who are struggling to reclaim communities and businesses that were devastated by Hurricane Sandy, and I was impressed by their determination to rebuild stronger,” said SBA Administrator Karen G. Mills.  “The SBA is there to support the long-term recovery of the disaster areas, and we will make sure that as many people as possible get the help they need to become whole again.”

Through Thursday, the precise total was $156.56 million to 2,507 residents and businesses.

There are several ways to apply: 

The SBA has 377 employees working to assist Hurricane Sandy survivors in 113 disaster recovery and business recovery centers in New York, New Jersey, Connecticut and Rhode Island.  Meanwhile, SBA Small Business Development Centers are available to help business owners complete loan applications, and give advice on how to rebuild and grow in the aftermath of the disaster. Visit www.sba.gov/local-assistance to find your local SBDC.

The filing deadline for physical property damage is Dec. 31 for New York, New Jersey and Connecticut.  The economic injury disaster loan application deadline is July 31, 2013.   The physical deadline for Rhode Island is Jan. 15, 2013 and the economic injury disaster loan deadline is Aug. 14, 2013.

For more information about SBA disaster loans, visit www.sba.gov/sandy.

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