As the one-year anniversary of Hurricane Sandy approaches, the SBA said it will continue to provide funding to small businesses affected by the storm.
The agency said its resource partners will issue a total of $13.1 million to collaborative teams, which will integrate local economic recovery efforts and bring distinct delivery of business services.
This second phase of funding, part of $19 million in emergency appropriations approved by Congress, will be distributed by SBA’s resource partners – the Small Business Development Centers, SCORE, and Women’s Business Centers – to collaborative teams in 11 states and a U.S. territory.
The SBA said it anticipates awarding grants to the collaborative teams in the following states:
- Connecticut – $1,361,000
- Delaware – $304,000
- Maryland – $91,000
- Massachusetts – $194,000
- New Jersey – $3,582,000
- New York – $6,191,000
- Pennsylvania – $1,058,000
- Rhode Island – $181,000
- Virginia/North Carolina – $63,000
- West Virginia – $118,000
- Puerto Rico – $46,000.
In April, the SBA said it awarded $5.8 million to its resource partners to provide targeted small business counseling, training and technical assistance. Since that time, the agency has helped nearly 4,300 small business clients using those funds.
As of Aug. 7, the SBA said it has approved a total of $2.4 billion in loans to 36,200 business and homeowners needing assistance to repair, rebuild and restart the local economy after Hurricane Sandy.
The super storm caused an estimated $68 billion in damages and killed at least 286 people in its path across the Caribbean and into the United States, according to the National Weather Service.