Newspaper article The Record (Bergen County, NJ)

Residents Get More Time to Seek Sandy Relief

Newspaper article The Record (Bergen County, NJ)

Residents Get More Time to Seek Sandy Relief

Article excerpt

Homeowners and others still trying to recover from Superstorm Sandy are getting more time to apply for low-interest loans from the Small Business Administration under legislation signed by President Obama.

Sen. Bob Menendez, D-N.J., who proposed the bill, said in a statement that some storm survivors are still waiting for federal grants and that the availability of SBA loans as a backstop will provide peace of mind.

Some residents and businesses did not apply for loans after the 2012 storm because they received inaccurate information, were hoping for grants, or believed flood insurance and grants would meet their needs, Menendez's office said. Upon finding they needed additional funds, they were shut out from low-interest, long-term loans. …

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