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Latest Business News

Small Firms Got Sept. 11-Related Loans

Thursday, September 08, 2005 7:05:36 PM
By JEFFREY GOLD

Ed Ryan, Paul Dybus and Ed Dybus, from left, walk into the Oaklyn Discount Liquors store in Oaklyn, N.J., Thursday, Sept. 8, 2005. A $900,000 Supplementary Terrorism Activity Relief loan made in October 2002 helped Andy Shah buy Oaklyn Discount Liquors, Shah said. His store is among at least eight liquor stores in New Jersey that were awarded Sept. 11 loans. (AP Photo/Jose F. Moreno)NEWARK, N.J. (AP) - Marina operator Joseph Palmisano said he is not sure if the terrorist attacks affected his business, but he knows that the $810,000 federal loan he got afterward helped him buy out his partner.

He wanted several million dollars to take control of AP's Inlet in Belmar, which his father started in 1976, but was glad to get the lesser amount through a Small Business Administration loan.

"They were the only people who could give me the loan, I can tell you that," Palmisano said.


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