Small businesses affected by Hurricane Sandy aren’t taking advantage of numerous Hurricane Sandy Assistance programs at the federal, state and local levels.
Several months after Hurricane Sandy devastated many parts of the Northeast, many eligible small businesses have failed to take advantage of the numerous assistance programs made available by federal, state and local agencies. Many businesses that have applied are facing delays because documents containing important information were lost as part of the Hurricane.
The Small Business Administration has approved only 164 applications for its emergency assistance program, which offers $2 million loans at 4 percent amortized over 30 years. New York City’s Department of Small Business has only approved 224 applications for assistance out of an estimated 13,000 eligible businesses. New Jersey’s Hudson County Economic Development Corporation has only received a single application for its assistance program offering up to $25,000 at 2 percent interest.
A little about Mike Periu
Periu founded Proximo, LLC nearly 15 years ago. The company provides small business education and training services with an emphasis on finance and technology.
Periu teaches empowerment through entrepreneurship and economic opportunity. He regularly appears on television and radio talking about these subjects.
Periu also writes for leading blogs about finance. These include: American Express OpenForum, Yahoo! Finanzas and the Huffington Post.
Periu studied Finance and International Business at Georgetown University. He is a Board member at the Council for Economic Education.
