World Trade Center Small Business Recovery Fund Inc

Programs: The world trade center small business recovery fund (wtcsbrf) initially targeted small businesses in the five boroughs of new york city that were affected by the terrorist attacks on september 11,2001. The event dislocated, disrupted or destroyed nearly 18,000 businesses, the majority of which were small businesses. The founding sponsors of the fund agreed that immediate action was needed in that the longer it takes businesses to recover after a disaster, the less likely they are to stay in business. >the fund's program service accomplishments are continued under schedule o. Continuedthe founders of the fund also recognized that, in addition to assisting businesses in the impact area at the time of the event, there was a need to rebuild the business community. Therefore, the fund also supported businesses that wanted to commence operations in or relocate to lower manhattan. These new businesses replaced some of the many businesses lost as a result of the disaster. When the fund was established in 2001, the founders anticipated that similar long-term support would be necessary beyond the immediate aftermath of the disaster in order to ensure the long-term recovery of small businesses crippled by the event. In this regard, the fund recognized that these small businesses may also experience higher operating costs because of increased spending on security, higher insurance premiums, and longer wait times for activities. They would thus benefit from in-depth advisement and funding to support their rebuilding efforts and to plan for the future. Therefore the fund continues to be active, and to support the rebuilding of the small business community in new york city. The fund currently has approximately 20 small business loans outstanding.