Sandy-struck small businesses say S.B.A. disaster loans hard to come by
The U.S. Small Business Administration says it is here to help after Hurricane Sandy. But some small business owners say that help has been hard to get.
The federal agency has been urging home- and business-owners hurt by Sandy to apply for a low-interest disaster loan if their insurance proceeds fall short of what they need to recover.
But while the agency has awarded thousands of homeowners, businesses haven’t had the same success. As of yesterday, just 630 New Jersey-based firms had secured a disaster loan from SBA, compared to 7,736 homeowners. Read more.