New Brunswick Community Development Company Receives Funding for Hurricane Sandy Recovery

New Brunswick-based company New Jersey Community Capital was recently announced as a recipient in a $20 million funding investment from Bank of America.

According to a press release from Bank of America, a total of $20 million was given to 13 community development financial institutions in New Jersey. The money will be used for low-cost loans for small businesses and homeowners who are recovering from damages caused by Hurricane Sandy.

The loans will be provided at a zero percent interest rate, with deferred principal repayments, according to the release.

For more information, visit www.newjerseycommunitycapital.org.