Victims of superstorm Sandy who need more cash to rebuild their home or business can now apply anew for a low-interest disaster loan.

The U.S. Small Business Administration is reopening the application period because of a new law authored by U.S. Sen. Robert Menendez, D-N.J. The bill was signed by President Barack Obama the day before Thanksgiving, according to Menendez's office.

The Superstorm Sandy Relief and Disaster Loan Program Improvement Act authorizes the SBA to extend the deadline for Sandy victims for one year. The new deadline is Dec. 2, 2016.

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