The remnants of Hurricane Ida wreaked havoc across the northeast. Weeks later, residents and small business owners are still recovering.
Now that New York, New Jersey, and parts of Pennsylvania have received major disaster declarations, businesses can start receiving federal help.
In New York, the declaration covers 14 counties. The governor’s relief and response resource guide outlines recovery assistance programs available there. In New Jersey, the declaration covers 11 counties. The state of New Jersey has also created a webpage of recovery resources for its citizens.
Additionally, the New Jersey Economic Development Authority established the Henri/Ida Business Assistance Grant Program, a $10.5 million grant program for small businesses. The Program will provide grants from $1,000 to $5,000 to New Jersey-based small businesses and non-profits with up to 50 full-time employees.
On the federal level, the Small Business Administration is providing low-interest, long-term loans to businesses in areas that suffered physical and economic damage, including Economic Injury Disaster Loans and Business Physical Disaster Loans.
The IRS is also providing relief to residents and business owners in New York, New Jersey, and parts of Pennsylvania. Those impacted by the effects of Hurricane Ida now have until January 3rd to file federal personal and business tax returns and make tax payments.
While there are many financial assistance programs available for affected businesses, the key is to apply as soon as possible in order to get back up and running. If you or someone you know needs help, reach out to us! We are always here for you and look forward to being of assistance.