NJ Businesses Impacted By Sandy Get Some Help [AUDIO]
It wasn’t just homes and boardwalks that were washed away by the superstorm two weeks ago. Some people lost their absolute only source of income, their small business.
To support the recovery, the Christie Administration revealed a series of business assistance services for those affected by the storm.
“Providing a thorough and inter-departmental business recovery assistance program is another demonstration of our support for our business community and their workers,” said Lieutenant Governor Kim Guadagno.
The state’s Economic Development Authority initiated the Main Street Disaster Relief Program, which first began last year when Irene hit New Jersey. The program guarantees up to $500,000 for commercial lines of credit to businesses that need immediate access to cash to improve damaged property.
In addition, Business Resource Centers available throughout the state are serving as one-stop resources for more information on how to get businesses back up and running. Services include, but are not limited to:
- Arranging business facility inspections for buildings suffering major flood damage
- Connecting businesses to other county and local services
- Advocating with insurance carriers to file and expedite claims
Meanwhile in Trenton, Democratic Assemblyman Patrick Diegnan announced plans for legislation meant to help New Jersey’s restaurant industry recover losses from the storm.
Under the proposed measure, meal purchases made in New Jersey restaurants would not be subject to state sales or use taxes for 30 consecutive days.
Diegnan explained, “The state’s restaurant and dining industry took a massive hit during the storm with many operators unable to open since it made landfall. Unlike other industries, loss of time equals loss of revenue that is unrecoverable, unless special circumstances are created to boost sales.”