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Federal Loan Deadline Looms For Hurricane Sandy Victims

Small Business Administration has already approved more than a half billion dollars for home and business owners

An April 1 deadline is approaching for New Jersey home and business owners seeking federal aid for damages wrought by Hurricane Sandy last year.

The Small Business Administration has already approved 9,562 disaster loans worth $631 million to Hurricane Sandy victims, they said Wednesday.

Of that total, 8,754 loans for $548 million went to homeowners and renters, while business owners have received 808 loans for $83 million, according to an official with the SBA. 

In Bergen County almost $19 million has been approved for 298 home loans and 44 business loans.

The federal government late last year offered low-interest loans to owners of homes and small businesses in Bergen County for damage or other losses related to Hurricane Sandy. Up to $200,000 to homeowners and $2 million are available for small businesses looking to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. 

Anyone interested in applying for one of the loans can also visit the SBA website or call 800-659-2955.

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