Assistance for Businesses Affected by Hurrican Sandy

URGENT INFORMATION RELEASE

County Executive Rob Astorino has released notification that the President has declared Westchester a disaster area due to Hurricane Sandy making this region eligible for federal disaster aid. You can register online or by phone.

Those businesses within Westchester County  should register online with FEMA at www.DisasterAssistance.gov or call 1 800-621–FEMA (3362), as quickly as possible. President Obama has directed the Small Business Administration to expedite relief assistance. Financial assistance includes:

1. Loans up to $2 million to repair disaster damage or destroyed real estate, machinery, equipment, inventory and other real estate assets. Financial assistance in combination with property loss, cannot exceed $2 million;

2. Small businesses, small agricultural cooperatives, and many not-for-profit organizations are eligible for the Small Business Administration Economic Injury Disaster (SBA) Loans which provide working capital assistance;

3. Interest rates for not-for-profit organizations are three (3%) percent and four (4%) percent for businesses, both with terms up to 30 years;

4. Applicants may apply online using the electronic loan application via the Small Business Administration website at https://disasterloan.sba.gov.ela.

5. The filing deadline to return applications for physical property damage is

December 31, 2012; the deadline to return economic injury applications is July 31, 2013.

The Chamber of Commerce remains committed to working with businesses and the not-for-profit community in this recovery process. Additionally there are numerous banks and lenders that are working with the SBA and SBDC to get loans to you as quickly as possible to ensure that your business gets up and running post haste. Please contact the Chamber at (914) 632-5700 for additional information. We will keep you posted as new information is received from both the government and member lending institutions.