Ninety days after Hurricane Sandy struck the Northeast, the U.S. Small Business Administration crossed the $1 billion threshold of approved loans to more than 16,800 homeowners, renters and businesses. This makes Hurricane Sandy, in terms of SBA disaster lending, the third largest natural disaster in U.S. history, behind Hurricanes Katrina/Rita/Wilma ($10.8 billion), and the Northridge Earthquake ($4 billion).
The sheer size and scope of this disaster created an increased need for more assistance. This week Congress passed an aid package that will provide SBA with an addition $520 million to support up to $5 billion in low-interest disaster loans. You can apply online using the Electronic Loan Application. If you think you need help filling out the application, or have questions about what documents are required to complete the process, call SBA's Disaster Customer Service Center at 800-659-2955. Those with a speech disability or hearing loss may call 800-462-7585. You can also email the center at email@example.com.