In the six months since Superstorm Sandy hit the shores of New Jersey, survivors have been rebuilding their communities with more than $1.1 billion in federal funding. As part of the rebuilding effort the Federal Emergency Management Agency has approved $388 million in assistance to more than 60,500 individuals and households affected by Sandy. Of that financial help, $334.5 million has gone to items such as home repair and rental assistance, and $53.4 million has been dedicated to basic needs not covered by insurance.
The Small Business Administration has approved more than $734 million in low-interest disaster loans for homeowners, renters and businesses, with more than $607.6 million going to homeowners and $138.8 million allocated to businesses. The loans have been a significant source of working capital for small businesses to help alleviate economic losses.