BINGHAMTON (WBNG) — When floods swept through our area on August 13th and 14th, Michaelangelo’s Pizzeria and Ristorante was left with some serious damage, which cost a pretty penny to repair.
“The cleanup bill alone for the restaurant portion was $24,000, content cleaning was over $3,000 and woodwork was another $3,000 so it was like a $34,000 bill,” said Michael Hadlick, the owner of Michaelangelo’s.
That’s where the Small Business Administration can come in and potentially save the day, or at least your checkbook.
“SBA representatives are here to see if we can assist the survivors with low interest loans,” said Valerie Cobb, a diaster reservist for the organization.
Even though it’s the Small Business Administration, the name can be a little misleading.
“It is for small businesses but it also includes the community. So the community has homeowners and renters, non-profits also,” Cobb said.
Michaelangelo’s actually used this program after the floods of 2006, and for the restaurant it made all the difference.
“It helped me expand the business and get back on my feet,” Hadlick said.
Homeowners can qualify for up to $240,000 and small businesses up to two million dollars in loans, relief that comes in a timely manner.
“From application to money in hand, it should be around 30 to 45 days,” Cobb said.
Michaelangelo’s had to close for about a week after the August flooding, but with the help of programs like the SBA disaster relief loan, business is booming once again.
“Since then, business is back to normal. Everytime we’ve been closed people are jonesing for our food, and they always come back in full force once we open back up again,” Hadlick said with a smile.