Help Available for Downtown Hurricane Sandy-Affected Businesses

Lower Manhattan business owners affected by Hurricane Sandy can now get help applying for loans and grants at Councilwoman Margaret Chin’s district office, 165 Park Row, Suite #11.

NYC Small Business Services staff members will assist qualifying business owners with their applications on Wednesdays, from 1 to 5 p.m., at least until the end of December.

Businesses that experienced loss, damage and/or interruption as a result of the storm can now receive grants up to $100,000.

Businesses with unmet needs greater than $100,000 that already have Sandy-related debt are eligible for a $100,000 grant, and their remaining need matched with a one-to-one loan and grant. Owners who are creating or retaining jobs, or are deemed “significant anchors” to the community, with needs over $100,000, may qualify for grant-only awards of up to $1.1 million.

The grants and loans are aimed at providing supplemental financial assistance and replacing eligible inventory, moveable equipment and working capital.

The loans are part of the $293 million allocated for business recovery nationwide through the Community Development Block Grant Disaster Recovery Program.

For more information on eligibility, visit http://www.nyc.gov/html/sbs/nycbiz/downloads/pdf/home/hsblg_faqs_2014-06-26.pdf.