Legislation giving business owners and homeowners whose properties were damaged by Hurricane Sandy a new chance to get low-interest federal loans has cleared the U.S. House.

The bill reopens the application process for U.S. Small Business Administration disaster loans.

"More than three years since Superstorm Sandy, there is still much work that needs to be done for struggling families and businesses to fully recover," said U.S. Sen. Robert Menendez (D-N.J.), the bill's chief sponsor.

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