Contact Us

Sandy Damaged Businesses Not Applying for Help [AUDIO]

If your business was damaged by Superstorm Sandy, New Jersey has money to help you rebuild and recover, but the state isn’t going to come looking for you.

Seaside Heights
Seaside Heights (Mark Wilson/Getty Images)

You have to apply for the grants and low-interest loans. Wednesday night on Townsquare Media’s monthly “Ask the Governor” show, Gov. Chris Christie said not enough businesses are utilizing the available programs.

The New Jersey Economic Development Authority (EDA) is running the programs. The federal Small Business Administration (SBA) is no longer involved. The Governor acknowledges that many people had some “bad experiences” with the SBA, but vows the EDA has people at the ready to work with you.

“We have $260 million dedicated to a grant program for small businesses,” explains EDA Chief Executive Officer Michele Brown. “We have low-interest loans of up to $5 million for eligible locations. These businesses will have zero percent interest for the first 24 months of the loan and no principle or interest payments 0f any kind for the first two years.”

There is $100 million available through the Stronger NJ Business Loan program. There are eligibility requirements. That information is available below:

Read The Loan Eligibility Requirements

“We’ve got money there that we haven’t distributed yet and we’re ready to,” said Christie. “People haven’t applied.”

There are literally people at the EDA who are standing by to take your call or answer your email. They’ll determine if you are eligible and they’ll work with you through the entire process.  You can visit the EDA website or call 1-855-SANDY-BZ (1-855-726-3929).

You might wonder why businesses aren’t applying. Brown thinks several factors could be playing a role.

“What we think is going on is that we have business owners who are trying to make a living,” says Brown.

“We’re in the height of the summer season and they’re busy making pizza and scooping ice cream and doing what they do well and I think a number of them either haven’t heard about the programs, haven’t had time to fill out the application or are confused about how the SBA program works and they think if they applied to the SBA they’re not allowed to apply for our Stronger NJ Business Grant Program. That’s not true.”

It doesn’t make any difference if a business has applied to the SBA or not, that business can apply to the NJ EDA, says Brown.

“Businesses should utilize these programs,” said Christie. “They’re very, very good to help businesses get back on their feet and deal with some of their problems and the folks at the EDA are ready to help you work with this.”

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Best of The Point

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for Point Clique quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive Point Clique contests, events, coupons, presales, and much more delivered to you for FREE.