SBA Reopened the Application Filing Period for Small Businesses of New York Affected by Superstorm Sandy
Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
SBA also offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
Interest rates are as low as 4 percent for businesses, and 3 percent for nonprofit organizations, with terms up to 30 years. Loan amount and terms are set by the SBA and are based on each applicant’s financial condition.
The SBDC (Small Business Development Center) is in position to assist business owners with the SBA application process and packaging on a one-on-one basis. Jason Kohl, Business Advisor with the SBDC, can visit your work site or he can be seen at his office in Island Park.
Please call to set an appointment for discussion.
JASON KOHL, CCIM
Business Advisor - Small Business Development Center
Island Park Outreach Center
203-A Long Beach Road, Island Park, NY 11558