Sandy Recovery Business Loan

Photo by Damon Jacoby.

Loans from $1,000 to $25,000 for businesses affected by Superstorm Sandy in New York City.

Update: The Sandy Recovery Business Loan and Grant Program ends soon! All loan applications are due by March 15. All loans must be finalized by March 31.

For the first 3 months - no payments and 0% interest.

15% of total loan offered as a grant.

 Program available for a limited time only! Apply now! 

RATES, FEES AND TERMS

• No monthly payments and 0% interest for the first 3 months
• After three months, loan locks in at a very low 4.99% rate
• Loan term up to 48 months
• No prepayment penalty
• A 3% to 5% closing cost and a $30 application fee, if approved.

ADDITIONAL BENEFITS

• Additional grant worth 15% of total loan.
• Free financial education
• Opportunity to build credit

 REQUIREMENTS

• A credit score of 525 or higher
• Sufficient cash flow to comfortably support monthly loan payments
• Less than $3,000 in past due debt
• No bankruptcies in the past 12 months or foreclosures in the past 24 months
• No late payments on your rent/mortgage in the past 12 months
• You own fewer than four mortgaged properties
• All required licenses to operate the business
• Six months or more in operation and sales
• Proof of storm related damage

 Note: A qualified cosigner and proof of household income may be required.

For additional information call (866) 245.0783.

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