NYC BUSINESS SOLUTIONS - Hurricane Sandy Emergency Small Business Recovery Loan Fund
December 5, 2012
Loan amounts range: $5,000 to $25,000
Uses of Loan Funds:
Repair and replacement of equipment
Working Capital
Eligibility:
Must have suffered a discernible impact from Hurricane Sandy
Must be located in Zone A or can demonstrate a material loss due
to flooding and/or power outages
Must be in business a year
Average Credit Score - at least 650
Loan Terms:
Security Interest in business assets subject to existing liens
Personal Guaranty of owners
Repayment Terms:
Interest of 1%
No interest or principal payments for 6 months
24 amortization after first 6 months
NYC Matching Grant Program - up to $10,000
Business must be located in NYC
Business must have fewer than 100 employees
Business must have filed 2011 business tax returns
Business must have experienced direct damage through flooding or
power outages as a result of Hurricane Sandy
Business must have applied and been approved for a NYC
Emergency Loan
Business must have been displaced from their primary place of
business for a minimum of three (3) weeks
Please contact a NYC Business Solutions Account Manager to start
your application:
Robert Mathieu
(718- 285-8400)
rmathieu@sbs.nyc.gov
Mary Ellen Smyth
718) 285-8407)
masmyth@sbs.nyc.gov
Lorraine Frazier
(718) 285-8406)
lofrazier@sbs.nyc.gov
Must have suffered a discernible impact from Hurricane Sandy
Must be located in Zone A or can demonstrate a material loss due
to flooding and/or power outages
Must be in business a year
Average Credit Score - at least 650
Loan Terms:
Security Interest in business assets subject to existing liens
Personal Guaranty of owners
Repayment Terms:
Interest of 1%
No interest or principal payments for 6 months
24 amortization after first 6 months
NYC Matching Grant Program - up to $10,000
Business must be located in NYC
Business must have fewer than 100 employees
Business must have filed 2011 business tax returns
Business must have experienced direct damage through flooding or
power outages as a result of Hurricane Sandy
Business must have applied and been approved for a NYC
Emergency Loan
Business must have been displaced from their primary place of
business for a minimum of three (3) weeks
Please contact a NYC Business Solutions Account Manager to start
your application:
Robert Mathieu
(718- 285-8400)
rmathieu@sbs.nyc.gov
Mary Ellen Smyth
718) 285-8407)
masmyth@sbs.nyc.gov
Lorraine Frazier
(718) 285-8406)
lofrazier@sbs.nyc.gov
