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March 4th, 2013
10:54 AM ET

Businesses hit by Sandy struggle to recover

By Steve Kastenbaum, CNN

Follow on Twitter: @SKastenbaumCNN

Editor's Note: Listen to the full story in our player above, and join the conversation in our comments section below.

(CNN) – A few hundred people filled the parking lot at the Fairway supermarket on the waterfront in the Red Hook section of Brooklyn, NY last Friday morning.

The store is reopening four months after it was flooded by Superstorm Sandy’s storm surge.

Owner Howard Glickberg says it took millions of dollars to repair the Fairway supermarket.

[2:06] “We’re lucky. We had the resources to open up this store. Luckily we had full insurance coverage. Other business owners didn’t have flood insurance. They didn’t have money to back them up. And a lot of businesses just aren’t going to open up again.”

Thousands of small business owners along the East Coast are fighting that with all their strength. St. John Frizell owns a restaurant in the neighborhood called Fort Defiance.

[2:46] “I just applied for the Federal loan, the SBA loan. I haven’t heard back from them. I’m not hopeful. I did not qualify for the loan through the city. That loan I was not eligible for. The reason given was insufficient cash flow.”

Carlos Menchaca, who organizes relief in Red Hook through the City Council says that’s the norm here.

[3:51] “We’re hearing that… over 60 percent of people who are applying for small business loans are being rejected and that’s absolutely ridiculous. These are government dollars that have been put into the recovery that aren’t getting into the hands of small businesses that need it.”

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soundoff (6 Responses)
  1. Froggyalley

    What do those people have to do to get HELP? This is why I pay taxes, so my fellow Americans can recover and get back to work after a disaster. stop playing political football with peoples' lives!

    March 4, 2013 at 7:06 pm | Report abuse |
    • ILOVEAMERICA

      Exactly. Please, let these poor Americans heal. They are emotionally wounded and need money now.

      March 4, 2013 at 7:22 pm | Report abuse |
  2. Time4thenextrevolutiontostartNOW

    In other news the USA does have enough money to give Egypt and Syria nearly half a billion dollars

    March 4, 2013 at 6:50 pm | Report abuse |
  3. lbdukeep

    I know the President promised it....but this is all the doing of Congress. CONGRESS – SHAME ON YOU!!!!

    March 4, 2013 at 6:28 pm | Report abuse |
  4. KarmaBurns

    Surprised? Really? They dont want small business owners to recover..then who will bring in Home Depot, Walmart, Mcdonalds, Lowes, Costco, Sams Club, what a convenient way to wipe out the mom and pop businesses and force consumers to go thru Big Business .

    March 4, 2013 at 5:03 pm | Report abuse |