Business Opportunities Weblog

September 11, 2006 by Rich Whittle | 1 Comment

BusinessWeek Online:

For Peter Muscat, the owner of a liquor store three blocks from Ground Zero, his business’ health was not a top priority when the World Trade Center was attacked on September 11.

But keeping his business going soon became a daily struggle. Muscat says he was denied a Small Business Administration disaster loan because he didn’t want to use his house as collateral, and had to dig into his life savings to make it through a year when business all but stopped.

Muscat says it was only through the kindness of his loyal customers and his 36 years of experience that his store survived.

Many small-business owners such as Muscat, who make their living in the shadow of Ground Zero, are adapting as the area struggles to adjust to two major growth spurts at once — a residential boom, and what could be described as a painful rebuilding.

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Tags: Financing, Operations, Psychology, Public Relations