Brief Summary of City Assistance for Small Businesses

The City has put together a package of support for NYC businesses impacted by the storm:

o Emergency loans of up to $10,000 for small and mid-sized businesses that have been interrupted as a result of the storm.

o For larger businesses that were damaged, temporary City and State sales tax deferment on materials needed for rebuilding.

o For businesses displaced from their locations, we’re offering temporary office space free of charge at the Brooklyn Army Terminal for the next 30 days.

o EDC has about 40,000 square feet of space at the Terminal that is now available for this use.

o Loans up to $2 million are also available for business property losses not fully covered by insurance – and for businesses that have had cash flow problems caused by the storm and need funds to get back on their feet.

§ That applies to small businesses, agricultural co-ops, and most nonprofits, regardless of size.

· To get more information contact NYC Business Solutions by calling 347.296.8021 or by contacting the Atlantic Ave BID at 718-734-4219 or jszende@atlanticavebid.org.

Federal Disaster Assistance:
· Anyone affected by Sandy – homeowners, renters, and businesses – can apply for federal disaster assistance.

· They can register at DisasterAssistance.gov or by calling the Federal Emergency Management agency at 1-800-621-3362.

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