WASHINGTON – For those wiped out by Hurricane Sandy, the Small Business Administration stands ready to help by using three of its programs.
Businesses and nonprofit organizations of any size can apply for a low-interest disaster loan of up to $2 million to repair or replace damaged real estate or inventory.
Small businesses and nonprofits of any size can apply for Economic Injury Disaster Loans, also up to $2 million. Some businesses made it through the storm, but they’ve lost significant amounts of business. In many cases, these businesses will be eligible for EIDL loans to help cover their working capital needs, regardless of whether the business suffered property damage.
Finally, homeowners can apply for loans of up to $200,000 to repair damaged real estate. Homeowners and renters can also apply to borrow up to $40,000 to repair or replace personal property damaged by the storm. In certain cases the figure can be increased up to 20 percent to make structural improvements that lessen the risk of property damage in the future.
Applications are now being accepted for the 14th Annual Business Excellence Awards Program. Deadline to apply is October 1st. And save the date for the Awards Dinner - November 12th at the Providence Marriott.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.