NYC announces new $5.5 million grant to help small businesses struggling after Sandy

New York City is stepping up efforts to help small businesses struggling after Superstorm Sandy.  Mayor Michael Bloomberg announced a new $5.5 million grant program on Saturday. He also noted that banks have pledged another $5 million to what was already a $10 million emergency loan fund.

The new grant program is designed to complement the loans. Businesses that have been displaced for at least three weeks can apply for a grant of up to $10,000 to help with repairs, supplies and other storm-related expenses.  The money comes from the nonprofit Mayor's Fund to Advance New York City and the Partnership for New York City, a business group...

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