WITH PARTICIPATION LOW, SBA URGES BUSINESSES TO APPLY FOR SANDY LOANS AS DEADLINE NEARS
By Jared Kaltwasser/NJBIZ
February 25, 2013
Time is winding down for businesses and homeowners affected by Hurricane Sandy to apply for loans from the U.S. Small Business Administration.
SBA spokeswoman Kathy Cook said storm victims have until Friday to apply for low-interest SBA loans. The agency has issued some 172,000 loan applications to business and homeowners, but as of last week, had received only 25,722 completed applications.
Of those completed applications, 7,565 have been approved, resulting in more than $515 million worth of loans.