Federal and City Home, Renters and Business Loans Available to Aid Sandy Recovery

Martin Malavé Dilan

November 01, 2012

Free Temporary Warehouse Space Also Available

Small Business Administration

The federal Small Business Administration is offering loans of up to $2 million in disaster areas. They are available to businesses of any size. Interest rates on the 30-year terms are typically 4 percent for businesses and 3 percent for nonprofits. Apply online at DisasterLoan.SBA.gov or download a application form at SBA.gov.

Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155. Once the application has been received, the SBA takes 10 days to respond. If you experience trouble applying online or require assistance gathering the required materials, the Small Business Development Center can help.

The Brooklyn Small Business development Center is located at:

25 Chapel Street, 11th Floor
Howard Building
Brooklyn, NY 11201

Call (718)797-0187 or email: sbdc@citytech.cuny.edu.

NYC Business Solutions

The NYC Department of Small Business Services has set up a Sandy recovery website and is offering up to $10,000 loans to impacted small businesses.

For more information, call 311 and ask for NYC Business Solutions, or send in a contact request online. To get a loan, you can also locate one of the NYC Business Solutions Centers listed here:

  • 400 E. Fordham Rd., 7th floor, Bronx, N.Y., 10458. Phone: 718-960-7910
  • 9 Bond St., 5th floor, Brooklyn, N.Y., 11201. Phone: 347-296-8021
  • 79 John St., New York, N.Y., 10038. Phone: 212-618-8914
  • 168-25 Jamaica Ave., 2nd floor, Jamaica, N.Y., 11432. Phone: 718-577-2148
  • 120 Stuyvesant Place, 3rd floor, Staten Island, N.Y., 10301. Phone: 718-285-8400
  • 215 W. 125th St., 6th floor, New York, N.Y., 10027. Phone: 917-493-7243
  • 560 W. 181st St., 2nd floor, New York, N.Y., 10033. Phone: 212-928-3400


Loans for Homeowners and Renters

Homeowners and renters can apply for grants and loans by registering online at DisasterAssistance.gov or by mobile device at m.fema.gov. If online or mobile access is unavailable, applicants should call FEMA's helpline, at 800-621-3362. Those who use the 711-Relay or Video Relay Services should call 800-621-3362. Small businesses can also use those websites to begin their loan applications.

Temporary Space

Short-term "swing" office space at Brooklyn Army Terminal is available free of charge for the next 30 days. The city's Economic Development Corp. has approximately 40,000 square feet of warehouse space available. Call 311 and ask for NYC Business Solutions, or send in a contact request online.

Useful Websites for Small Businesses, Homeowners and Renters:

FEMA registration: DisasterAssistance.gov

Small Business Administration: SBA.gov

Agility Recovery Solutions: AgilityRecovery.com

Ready.gov: Offers a variety of downloadable publications covering planning and preparation for disasters and emergencies.

IBHS Open for Business: DisasterSafety.org—Tips on post-Sandy recovery, including how to avoid contractor scams.

NY Small Business Development Centers: NYSSBDC.org

Disaster cleanup: SBA.gov/content/disaster-cleanup

Disaster resource guide from the IRS

Application for an SBA disaster home or business loan: DisasterLoan.SBA.gov/ela