Nassau County Executive Edward P. Mangano today applauded the volunteer efforts of local bankers and accountants as well as college students for donating their time to assist the Nassau County Economic Recovery Task Force in securing aid for businesses impacted by Hurricane Sandy. Bankers from JP Morgan Chase and TD Bank as well as accountants from Deloitte & Touche are working with the Task Force to assist business owners with completing loan documents required by the Small Business Administration and providing administrative support to the impacted businesses.
In addition, 10 students from Hofstra University’s Zarb School of Business are working with the Task Force to reach out to businesses impacted by the storm. Hofstra has also established an on campus call center, which is being used by the students to let businesses in the flood zone zip codes know about the aid programs that are available. Joseph Kearney, Executive Director of the Nassau County IDA, said the intent is to reach as many people as possible.
“Nassau County is extremely grateful for the efforts of our volunteers as we work together to rebuild our local economy,” said County Executive Mangano.
Richard J. Daly, Task Force Chairman and Chief Executive of Broadridge Financial Solutions in Lake Success, said the work being performed by the volunteers is vitally important to putting the businesses in touch with the services and assistance that they need.
In addition to SBA loans, businesses with 100 or fewer employees are eligible for fee-free sales tax exemptions of up to $99,000 through Nassau County’s Local Enterprise Assistance and Development Services (LEADS), which is administered by the County’s IDA. The exemptions may be used on purchases of building supplies and equipment used to rebuild their businesses. To date, 25 businesses have received tax exemptions totaling $500,000.
Since the inception of the Task Force, which was established a week after the storm, approximately 400 calls have been received on the Task Force hotline: (516) 571-1745. Businesses in need of assistance also can e-mail LEADS@NassauIDA.org or visit www.nassaubackinbusiness.org.