Survey: Superstorm Sandy still affecting small businesses trying to make a comeback

Along the Nautical Mile in Freeport, business owners

Along the Nautical Mile in Freeport, business owners say they are almost reaching a breaking point. (Credit: News 12)

FREEPORT - A new survey has found that one-third of small businesses in areas affected by Superstorm Sandy are still struggling to make a comeback.

According to a poll just released by the Federal Reserve Bank of New York, one-third of all tri-state small businesses reported financial losses a year after Sandy. Of those small businesses, 22 percent reported economic losses of more than $100,000.

Along the Nautical Mile in Freeport, business owners say they are almost reaching a breaking point.

Restaurant owner Ilona Jaglow says her businesses are barely hanging on 18 months after Sandy. She says her restaurant, Otto's, had to be rebuilt from the ground up and she lost 10 months of business revenue while the repairs were made. She says her flood insurance covered only a fraction of the cost and other aid programs are mired in red tape. 

“Ideally I would love to get an advance from New York Rising of $50,000 on each of [my] shops…when we get the paperwork straight, everything will fall into place," Jaglow told News 12.

She's managed to get the doors of Otto's open, but the shops she owns are still shuttered. She says she has drained her personal bank account trying to get them reopened in time for summer.

advertisement | advertise on News 12

Trending Video

U.S. Attorney General Jeff Sessions will be in 1 AG Sessions visits LI to discuss gangs, protests planned
The Family Center for Autism is Long Island's 2 12 Making a Difference: Family Center for Autism
Under the Trump administartion's proposed tax reform plan, 3 Long Island Talks Trump: Proposed tax reform plan
Kim Basile, who was born without a left 4 FSC softball catcher thrives without left hand
Independent Bookstore Day is a one-day national party 5 Celebrate Independent Bookstore Day this Saturday

advertisement | advertise on News 12

More News

Officials say many eligible Long Islanders have not NY Rising application deadline arrives

Today is last day to sign up for financial assistance from the New York Rising

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.