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Financial Aid for Companies Affected by Attacks

September 25, 2001, 12:00 AM EDT

In the aftermath of the World Trade Center attacks, businesses located in the disaster area that have suffered both physical and economic effects are eligible for public and private financial assistance. Here's what's available:

The U.S. Small Business Association is offering loans to both large and small businesses that have suffered physical damage or economic strain and are located within the declared disaster area. Funds will be appropriated on a case-by-case basis. Loan officers are available at the disaster recovery centers located at 80 Pine Street and 633 Third Avenue to provide information and distribute applications. Recovery centers are being staffed by members of the Federal Emergency Management Agency (FEMA) and the New York City Mayor's Office of Emergency Management (OEM). 1.800.659.2955, http://www.sba.gov/disaster/newyorkfires.html.

Fleet has created a $150 million “Emergency Loan Fund” in conjunction with the New York City Partnership. Businesses located below 14th Street that qualify for the loans can borrow from $10,000 to $5 million below prime borrowing rates (currently 4%) with approval and funding in two to five business days. For more information, or to apply, call John McWeeney, executive vice president, Fleet Small Business Services. 212.703.1850.

Compiled by Jill Musguire

Posted 09.25.01

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