Though it's been nearly six months since Hurricane Sandy wreaked havoc on New Jersey, many small businesses are still struggling to navigate the path to rebuilding. To help them along, Congress has approved a $19 million emergency appropriation for the Small Business Association's resource partners to support the recovery.
In New Jersey, the Small Business Development Centers, Women's Business Centers and SCORE will receive more than $1.3 million to help small businesses navigate the SBA loan process and take advantage of counseling, training and technical assistance.
"This is yet another example of placing proven, effective tools in the hands of America's small-business owners who are recovering from Hurricane Sandy," SBA administrator Karen Mills said in prepared remarks.
As of April 11, the SBA has approved 10,975 disaster loans to homeowners, renters and business owners in New Jersey for a total of $709 million. Of that total, $114.8 million in loans was given to 1,195 businesses.
"This additional $1.3 million will help us to extend our resources into the state's small business communities that were hit the hardest," said SBA's New Jersey district director Al Titone. "Our resource partners will be charged with the task of coming up with an effective strategy that will provide the most impact and help as many small business owners looking to rebuild their businesses and their livelihoods."