Small Businesses Hit by Hurricane Sandy to Receive $19 Million in Grants
More immediate and long-term help for small businesses still building in the aftermath of Hurricane Sandy is on the way through $19 million in emergency grants, according to the SBA.
The agency said funding was made available as part of a package approved by Congress in January to meet the demand for SBA assistance.
Through these funds, SCORE, Small Business Development Centers and Women Business Centers will help provide long-term small business rebuilding strategies, as well as help small businesses through the SBA lending process. Services include free expanded counseling, training and technical assistance, the SBA said.
In the first phase of counseling and technical assistance funding, $5.8 million is being distributed to SBA resource partners in Connecticut, Delaware, Massachusetts, Maryland, North Carolina, New Jersey, New York, Pennsylvania, Rhode Island, Virginia, West Virginia and Puerto Rico.
The SBDC and WBC funding awards are as follows:
- Connecticut, $527,000
- Delaware, $118,000
- Massachusetts, $76,000
- Maryland, $36,000
- North Carolina, $18,000
- New Jersey, $1.38 million
- New York , $2.39 million
- Pennsylvania, $410,000
- Rhode Island, $71,000
- Virginia, $7,000
- West Virginia, $46,000
- Puerto Rico, $19,000
SCORE will receive $704,000 to fund its chapters in the affected areas, the SBA said. During the second phase of funding, $13.1 million will be issued through these resource partners to provide long-term small business recovery and expansion, with a focus on building creative community-based partnerships, according to the agency.