IMPORTANT: New loan and grant program now available to NYC businesses

The City of New York and the U.S. Department of Housing and Urban Development are providing small businesses in New York City with disaster recovery loans as part of the $293 million allocated for business recovery through the Community Development Block Grant Disaster Recovery Program. The New York City Department of Small Business Services will be administering the program with assistance from the New York Business Development Corporation (NYBDC). If you are a small business that experienced direct damage as a result of the storm and demonstrate an ability to repay the loan, you can now access up to $150,000 in loan money. Loans will have a 1% interest rate and must be repaid in five to seven years. Businesses approved for the loan are also eligible for a matching grant of up to $60,000.


Please see the NYC Hurricane Sandy Loan & Grant Program Core application. Once complete, please contact an account manager at one of the local NYC Business Solutions centers to submit your application. For more information, please see our Loan and Grant Program FAQs and Document Checklist.

For more information about this important loan and grant resource, follow the link below:

http://www.nyc.gov/html/sbs/nycbiz/html/home/home.shtml

And a consolidated list of resources available to businesses is always located here:

http://www.nyc.gov/html/sbs/nycbiz/html/home/Hurricane%20Sandy%20Recovery%20Services.shtml