Velázquez, SBA Administrator announce loans for Sandy survivors
$3.4 Million in Loans Made to New Yorkers in December, January
U.S. Rep. Nydia M. Velázquez (D-North Brooklyn-Northwest Brooklyn-Manhattan) was joined Thursday by U.S. Small Business Administration (SBA) Administrator Maria Contreras-Sweet at two events in Brooklyn and Manhattan. The two officials announced that SBA disaster loans are once again available for businesses, renters and homeowners affected by Superstorm Sandy.
The program originally stopped taking applications in July of 2013, but many businesses and homeowners did not apply for help because of lengthy processing and other bureaucratic hurdles. Because of the new law, H.R. 208, introduced by Velazquez and enacted in November, New Yorkers who have an unmet financial need as a result of Superstorm Sandy now have until Dec. 1, 2016 to apply for a disaster loan.
“While we have made significant progress in our recovery, many businesses and homeowners continue feeling economic and physical damages inflicted by Sandy,” Velázquez said. “By reopening the SBA’s disaster loan program and encouraging more businesses to apply, we can help our communities fully heal from this historic catastrophe.