WASHINGTON (AP) — Small businesses that were affected by Superstorm Sandy and are still struggling could have another chance to apply for government assistance.
Legislation passed by the House and sent to President Barack Obama Monday would allow small businesses affected by Sandy to apply for new loans from the Small Business Administration, a response lawmakers say was needed after the agency moved too slowly in the wake of the superstorm that slammed the East Coast three years ago.
The bill also lays out new parameters for giving emergency disaster loans to small businesses to make it easier and quicker for borrowers to receive money. A report by the Government Accountability Office last year said the SBA was unprepared for future disasters.
The House passed the bill by voice vote.
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