Support small businesses and local commercial corridors
Small businesses form a critical part of any community, providing jobs as well as goods and services. After Sandy, the disruption to businesses in affected communities meant lost earnings for business owners, displaced jobs for workers, and reduced access to vital goods and services. As a result, residents in many communities were left with limited options to meet their daily needs.
In response, the City provided financial and technical assistance to more than 650 businesses in the immediate aftermath of Hurricane Sandy. In addition, the Hurricane Sandy Business Loan and Grant Program will have served more than 250 businesses before the end of 2015. As of April 2015, the City has approved awards worth $35 million to more than 200 businesses.
In Spring 2015, the City will announce the winners of RISE : NYC, a $30 million competition that leverages innovative resiliency technologies in energy infrastructure, telecommunications, and building systems for small businesses. Additionally, the City will launch a new Business PREP program to provide tailored resources and technical assistance in preparing and planning for future disruptive events to businesses citywide and thereby enhancing their resiliency.