NEW YORK ( TheStreet) -- What's happening in small business today?
1. Research In Motion unveils new BlackBerry. Research In Motion (RIMM), the troubled company marred by the success of the Apple (AAPL) iPhone, hosts its eagerly awaited BlackBerry 10 launch event on Wednesday.
Apple has made its mobile devices user friendly for small-business owners who are busy running their businesses. Will you be taking the leap from Apple to BlackBerry?
2. SBA Hurricane Sandy loan approvals surpass $1 billion as Congress makes additional funds available for recovery. About 90 days after Hurricane Sandy, the U.S. Small Business Administration has approved more than $1.1 billion in disaster loans to 16,800 residents and businesses in the federally declared states affected by the storm.The SBA's disaster loan program figure comes as Congress passed emergency legislation late Monday in the form of a $50 billion emergency-aid package for storm victims. Of that, $799 million will be added to SBA's disaster-assistance budget to help meet the demand for loans from Hurricane Sandy and future disasters. "Getting money into the hands of individuals and businesses in the aftermath of Hurricane Sandy continues to be one of our top priorities," said SBA Administrator Karen G. Mills. "My pledge to those affected by the hurricane is that SBA, working together with our local and federal partners, will help you rebuild. I am pleased Congress took the important step of appropriating much-needed funds to help us keep our promise." The supplemental appropriations will be broken down as such:
- $520 million for disaster loan subsidy costs, which would support $5 billion in SBA low-interest disaster loans to homeowners, renters, businesses and non-profit organizations;
- $249 million to cover the administrative costs of SBA disaster loan making and servicing;
- $20 million to support SBA's resource partners -- the Small Business Development Centers, SCORE, Women's and Veterans Business Development Centers -- as they provide assistance to businesses rebuilding in the aftermath of Hurricane Sandy;
- $10 million for additional administrative expenses, which include IT security and financial-management costs related to SBA's Hurricane Sandy response.
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