After Hurricane Sandy swept through New York, the hundreds of thousands of people who lost power in downtown Manhattan were eager to get their phones charged in order to communicate with loved ones. And the people at Bright Box realized just how desperate New Yorkers were when they set up a charging unit the day after Sandy and it was full within five minutes of being accessible to the public. For the hurricane’s aftermath, the company is offering free services outside Stumptown Coffee on 29th street and Broadway in Manhattan. Read More
(via How Sandy Helped One Startup Raise Its Profile - OPEN Forum :: American Express OPEN Forum)
With the latest damage estimates from Sandy’s 80 mile-an-hour winds and record surge of seawater now hovering in the $50 billion range, storm-related costs will almost certainly climb in the weeks ahead – as will the human toll. Ongoing shortages of heating oil and power outages in New York and New Jersey mean businesses and residences will face increasingly colder temperatures as the mercury dips. People who have suffered severe water and structural damage are now homeless, while many of the elderly and infirm cannot get out of their homes.
As long lines persist at numerous gas stations in the metropolitan area and as scores of people turn their thoughts to the difficult work of rebuilding, a number of businesses, organizations and individuals have been sharing their time, money and manpower with hard-hit Americans, trying to restore what Sandy has so crudely taken away. Read More
Small-business owners that need financial assistance due to hurricane Sandy should tap disaster recovery loans from the Small Business Administration. The low-interest loans may be used to repair or replace real estate, machinery, equipment, inventory and other business assets that have been damaged or destroyed in a “declared disaster”. The two main types of disaster recovery loans for small businesses are “Business Physical Disaster Loans” and “Economic Injury Disaster Loans”. The maximum amount of assistance available for each type of loan is $2 million. For businesses that have no other access to credit the maximum interest rate is 4 percent and the repayment term can be as long as 30 years.
Learn more at SBA.gov.
Other Resources for Small Businesses: