Disaster Recovery Resource for Small Businesses Impacted by Recent Hurricanes

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The last few weeks of storms have pounded states across the Atlantic including Florida, Georgia and the Carolinas, leaving millions scrambling for resources like SBA disaster loans and other funding.

To add fuel to the fire, the Small Business Association (SBA) announced that funds for vital disaster loan programs have run dry, and Congress remains in recess until Nov.12.

Despite this, it’s still encouraged to submit an SBA disaster loan application.Once funding is approved, loans will begin approval once more.

For small business owners who have been impacted by recent storms, we’re here to help you get the necessary resources to get your business back up and running.

Here’s what you need to know.

SBA Lending for Businesses Impacted by Storms

If your business qualifies for a SBA disaster loan, you could potentially get up to $2 million in loans to “replace damaged equipment or inventory and cover economic injury from business disruption,” according to SBA Administrator Isabel Casillas Guzman.

These loans are meant to be a supplement alongside any insurance coverage as well as FEMA funding, which was allotted $860 million in funding by the Biden administration.

Here are several loans you may be able to qualify for:

Business Physical Disaster Loans: If you own a business located in a declared disaster area that has experienced damage, you may be eligible for financial assistance from the SBA.

Economic Injury Disaster Loans (EIDL): This type of SBA funding aims to help businesses that have suffered substantial economic losses due to disasters such as hurricanes by providing working capital to cover operating expenses during the recovery period until normal operations resume.

Military Reservists Economic Injury Loans: This funding helps businesses whose essential employees were called to active duty because of the disaster and helps them stay financially solvent during their absence.

SBA Mitigation Assistance Loans: The SBA offers low-interest disaster loans to small businesses impacted by declared natural and other disasters.Eligible borrowers may apply for funding to help mitigate their business against future disasters.

If you prefer to apply in-person, there are application sites in several affected states:

Florida

Business Recovery Center (BRC)

Manatee County

Rocky Bluff Library

6750 US-301

Ellenton, FL 34222

Hours: Monday – Saturday, 9 a.m.to 6 p.m.

Closed: Sunday

Business Recovery Center (BRC)

Sarasota County

Sarasota Christian Church

2923 Ashton Rd

Sarasota, FL 34231

Hours: Monday – Saturday, 9 a.m.

to 5 p.m.

Closed: Sunday

Georgia

Business Recover Center (BRC)

Eastern Heights Baptist Church, 23805 US Hwy 80 E, Statesboro, GA 30461

Regular hours: Monday – Friday, 8 a.m.to 5 p.m., Saturday, 10 a.m.to 4 p.m., closed on Sunday

Business Recover Center (BRC)

County: Savannah Entrepreneurial Center, 801 E Gwinnett St, Savannah, GA 31404

Regular hours: Monday – Friday, 8 a.m.to 5 p.m., Saturday, 10 a.m.

to 4 p.m., closed on Sunday

North Carolina

Disaster Loan Outreach Center (DLOC)

Mecklenburg County

U.S.Small Business Administration District Office

6302 Fairview Road

Suite 300

Charlotte, NC 28210

Hours: Monday – Friday, 8 a.m.to 5 p.m.

Closed: Saturday and Sunday

Business Recovery Center (BRC)

Buncombe County

Asheville Chamber of Commerce

36 Montford Avenue

Asheville, NC 28801

Hours: Monday – Friday, 9 a.m.to 6 p.m.

Saturday, 9 a.m.

to 3 p.m.

Closed: Sunday

Business Recovery Center (BRC)

Watauga County

Appalachian Enterprise Center

130 Poplar Grove Connector

Boone, NC 28607

Hours: Monday – Friday, 8 a.m.to 6 p.m.

Saturday, 9 a.m.to 3 p.m.

Closed: Sunday

Here’s how you can apply for FEMA assistance:

Call (800) 621-3362.Hours are 7 a.m.

to midnight ET every day.

State Focused Disaster Resources for Small Businesses

Depending on your business’s location, you may be able to also qualify for funding from your respective state.Here are small business resources for these impacted states:

Bottom Line

Resources are launching each day to help small business across the East Coast and Southeast get back on their feet, and we will do our best to update this as new funding becomes available.

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by mycardopinions.
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