Hurricane Sandy Victims Highlight Main Street Lending Shortfalls

Restaurant workers clean damaged equipment in Lower Manhattan on Nov. 8, 2012 Photograph by Peter Foley/Bloomberg

The Small Business Administration approved $468 million in disaster loans to New York, New Jersey, and Connecticut businesses in the wake of Hurricane Sandy. Despite those loans, the lion’s share of small businesses affected by the storm are struggling to meet their financing needs, according to survey results published by the Federal Reserve Bank of New York.

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