Advertisement

Assistance available for for small businesses rebuilding after Hurricane Sandy

April 21, 2013

Small businesses rebuilding in the aftermath of Hurricane Sandy will get immediate and long-term help laying a foundation for economic recovery thanks to expanded services funded by a $19 million emergency appropriation.

Small businesses can take advantage of free expanded counseling, training and technical assistance from the U.S. Small Business Administration’s resource partners — Small Business Development Centers, or SBDCs, SCORE and Women’s Business Centers, or WBCs.

Funding was made available as part of a package approved by Congress in January to meet the demand for SBA assistance. Through these funds, SCORE, SBDCs and WBCs can help provide long-term, small-business rebuilding strategies, and help small businesses through the SBA lending process.

In the first phase of counseling and technical assistance funding, $5.8 million is being distributed to SBA resource partners in Connecticut, Delaware, Massachusetts, Maryland, North Carolina, New Jersey, New York, Pennsylvania, Rhode Island, Virginia, West Virginia and Puerto Rico.

SBDC and WBC funding awards in the Tri-State region are as follows:

• Maryland: $36,000

• Pennsylvania: $410,000

• West Virginia: $46,000

The SBA makes low-interest, taxpayer-backed disaster loans to homeowners, renters, businesses and nonprofit organizations of all sizes. More information about the disaster-assistance program is available at www.sba.gov/disaster.

As of April 11, the SBA has approved disaster loans totaling $1.8 billion to individuals, and $279 million to businesses and non-profit organizations recovering from Hurricane Sandy.

SBA’s resource partners provide counseling assistance to disaster survivors, including business advice for affected businesses and assistance in applying for an SBA disaster loan. In addition, they staff recovery centers and provide guidance to help with businesses recovery and disaster preparedness.

Advertisement
The Herald-Mail Articles
|
|
|