SBA Disaster Loan Assistance Aids New York 12.20.2001
The U.S. Small Business Administration, New York, has approved more than $200 million low-interest disaster loans to residents and small businesses in the New York City area in the aftermath of the September 11th terrorist attacks at the World Trade Center. The SBA offers low-interest, long-term financial assistance to help eligible homeowners, real estate owners, renters, businesses of all sizes and nonprofit organizations repair or replace uninsured disaster-damaged property. Small businesses may also be eligible for working capital assistance. So far, almost 2,500 loans have been approved to NYC businesses and individuals. Due to the extent of economic injury nationwide, SBA has introduced two additional Economic Injury Disaster Loan (EIDL) programs to help small businesses across the country. The Expanded Economic Injury Disaster Loan (EEIDL) program makes loans available to small businesses that have suffered substantial economic injury as a direct result of the attacks on the World Trade Center and the Pentagon, or from subsequent related actions taken by the federal government in response to those attacks. The Military Reservist Economic Injury Disaster Loan (MREIDL) program is available to small businesses that have suffered substantial economic injury because a key employee (including an owner and/or operator) is a reservist and has been called to active military duty. Visit www.sba.gov/disaster.