In just three months since Hurricane Sandy struck the East Coast, the U.S. Small Business Administration has approved more than $1.1 billion in disaster loans to residents and business owners affected by the storm. According to a release from the SBA, approximately 16,700 individuals have received loans, making Sandy the country's third largest disaster in terms of loaned dollars. Currently, Sandy sits behind 2005's Hurricane Katrina and its $10.8 billion in SBA loans, and 1994's Northridge, Calif., earthquake, which totaled $4 billion in loans. Sandy, however, could supplant those disaster …