Short on Funds, the Fate of Totonno's Remains Uncertain

Back in December, it was reported that the famed Coney Island pizzeria Totonno's could reopen by the middle of this month after being completely destroyed by Hurricane Sandy's floodwaters in October. Now, however, according to Slice's latest update on the pizzeria, there's a danger that it won't be able to reopen.

The big issue is, not unexpectedly, money. Co-owner Antoinette Balzano says that they've applied for both a $150,000 SBA loan and a $25,000 emergency loan from the New York City Business Development Corporation. That NYCBDC loan was denied, however, because the pizzeria is still paying off debt from its last rebuilding process, after that devastating fire in 2009. On top of that, Balzano says, a number of contractors are attempting to fleece the pizzeria out of thousands of dollars, taking money but then never completing work.

It sounds like there's still a chance that SBA loan could come through, and Balzano tells Slice, "I don't know if we'll be able to reopen without" it.
· Is Totonno's in Danger of Closing? [Slice]
· All Coverage of Totonno's [~ENY~]
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