Hurricane

SBA offers disaster assistance to businesses and residents of Florida affected by Hurricane Nicole

SBA offers disaster assistance to businesses and residents of Florida affected by Hurricane Nicole

Low-interest disaster loans from the U.S. Small Business Administration (SBA) are available to businesses and residents in Florida following the announcement of a Presidential disaster declaration due to damages that occurred Nov. 7-30 from Hurricane Nicole.

“SBA’s mission-driven team stands ready to help Florida small businesses and residents impacted by this disaster in every way possible under President Biden’s disaster declaration for certain affected areas,“ said SBA Administrator Isabella Casillas Guzman. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”

The disaster declaration covers the following Florida counties:  Brevard, Flagler, Lake, Putnam, Saint Johns and Volusia, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans (EIDLs): Alachua, Bradford, Clay, Duval, Indian River, Marion, Orange, Osceola, Polk, Seminole and Sumter.

Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace disaster-damaged or destroyed personal property.

Interest rates are as low as 3.305 percent for businesses, 2.375 percent for nonprofit organizations, and 2.313 percent for homeowners and renters, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Building back smarter and stronger can be an effective recovery tool for future disasters. Applicants may be eligible for a loan amount increase of up to 20 percent of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, elevation, retaining walls, and landscaping to help protect property and occupants from future damage caused by a similar disaster.

Applicants that have an existing SBA disaster loan may apply under this declaration. Businesses and residents with previous SBA disaster loans and current applicants have up to two years from the date of their prior loan approval in which to request a loan increase for mitigation projects.

“The opportunity to include measures to help prevent future damage from occurring is a significant benefit of SBA’s disaster loan program,” said SBA Associate Administrator Francisco Sanchez, Jr. “I encourage everyone to consult their contractors and emergency management mitigation specialists for ideas and apply for an SBA disaster loan increase for funding.”

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/  and should apply under SBA declaration # 17729.

To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362.

Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or sending an email to [email protected] Loan applications can also be downloaded from sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return applications for physical property damage is Feb. 13, 2023. The deadline to return economic injury applications is Sept. 13, 2023.

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

Dec. 29, 2022|

Florida Department of Economic Opportunity Activates Business Damage Assessment

 Florida Department of Economic Opportunity Activates Business Damage Assessment

 

The Florida Department of Economic Opportunity (DEO) announced the activation of the Business Damage Assessment Survey to gauge the impact of Hurricane Nicole on Florida businesses. Survey responses will assist the state in expediting recovery efforts by providing data on the needs of affected businesses.

On Nov. 10, Gov. Ron DeSantis issued Executive Order 22-256, declaring a state of emergency for the entire State of Florida. St. Lucie County encouraging any businesses impacted by Hurricane Nicole to complete the survey.

“The Business Damage Assessment Survey assists DEO and its federal, state and local partners in understanding physical and economic impacts to inform decision-making. I encourage businesses impacted by Hurricane Nicole to complete the survey at www.FloridaDisaster.biz,” said DEO Secretary Dane Eagle.

Results from the Business Damage Assessment Survey will be shared with various federal, state and local agencies to implement appropriate relief. Businesses can complete the survey online or visit www.FloridaDisaster.biz and select “Hurricane Nicole” from the dropdown menu. If you need additional assistance with your business, please call 850-815-4925 between the hours of 8 a.m. to 6 p.m. or email [email protected]Florida.com.

The Florida Small Business Development Center at Indian River State College wants to ensure all state and/or federal emergency lending tools and programs are available to area businesses. If local businesses have any questions regarding the survey or would like to speak with the local Florida Small Business Development Center, please contact Katie Muldoon at 772-336-6285 or email [email protected].

About DEO

The Florida Department of Economic Opportunity combines the state’s economic, workforce, and community development efforts, expediting economic development projects to fuel job creation in competitive communities and promote economic resiliency. For more information, including valuable resources for employers and job seekers, please visit www.FloridaJobs.org.

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

Nov. 17, 2022|

Florida SBDC Network urges preparation for hurricane season

Florida SBDC Network urges preparation for hurricane season

 

 

The Florida SBDC Network, the state’s principal provider of small business assistance, urges small business owners to prepare for the 2022 Atlantic hurricane season, which begins today and extends through November 30.

According to a forecast by the National Oceanic and Atmospheric Administration (NOAA), the 2022 season is predicted to be above-normal, with a range of 14 to 21 named storms, of which six to 10 could become hurricanes, including three to six major hurricanes.

The Florida SBDC Network encourages small businesses to prepare for hurricane season by developing a disaster preparedness plan.

“With another active season predicted this year, all small businesses should take time now to develop a preparedness plan,” said Greg Britton, State Director of the Florida SBDC Network. “No storm should be taken lightly and all small business owners should prepare each year no matter the forecast.”

Businesses should consider several elements in preparing for a disaster. Not only is it important to protect staff, their building, data, and inventory, it is also critical to prepare a plan to continue operations following the disaster. A good plan may include provisions to relocate to a pre-identified site, retrieve data, including employee, customer and vendor records; and a way to operate efficiently with a smaller staff of key individuals.

The Florida SBDC also strongly encourages businesses to back up data and ensure they have access to important files, such as tax records, legal, and financial documents.

As a principal responder in the state’s Emergency Support Function (ESF) 18 for Business & Industry, the Florida SBDC Network helps small businesses prepare and recover from disasters.

Through the network’s service offering, professionally certified business consultants can help small business owners develop comprehensive business continuity, emergency preparedness, and disaster recovery plans at no cost. Florida SBDCs also offer training on disaster preparedness, tips, and resources.

In the event of a disaster, Florida SBDC disaster specialists help affected businesses prepare disaster loan applications. The network will also deploy its mobile assistance centers into communities for affected businesses to receive on-site assistance with disaster loans and other post-disaster challenges.

 

Preparedness resources:
  • For preparedness resources from the Florida SBDC Network, please visit https://floridasbdc.org/services/business-continuation/preparedness/.
  • The state’s disaster preparedness sales tax holiday extends through Friday, June 10. To learn more about the holiday and qualifying items, please click here.
  • www.FloridaDisaster.org – The state’s official source of information for individuals and businesses from the Florida Division of Emergency Management.
  • www.FloridaDisaster.biz - The Florida Department of Economic Opportunity’s website to provide businesses access to critical information before, during, and after a disaster.
  • For a hurricane preparedness checklist and other resources from the U.S. Small Business Administration (SBA), please click here.

For more information about the Florida SBDC Network and to find an SBDC near you, please visit www.FloridaSBDC.org.

About the Florida SBDC Network:

 

For over 45 years, the Florida SBDC Network, the state’s principal provider of business assistance [Fl. Stat. 288.001], has nourished a statewide partnership between higher education and economic development to provide existing and emerging small and medium-sized business owners with management and knowledge resources that enable overall growth, increased profitability, and economic prosperity for Florida’s economy. In 2021, Florida SBDCs provided 157,841 hours of professional business consulting to more than 18,379 client businesses. Based on the results from the network's latest economic impact analysis, our services resulted in almost 38,000 jobs impacted; $7.4 billion in sales generated; $381.6 million in government contracts acquired, and $528.4 million in capital accessed. With over 40 offices statewide, the Florida SBDC is funded in part by the U.S. Small Business Administration, Department of Defense, State of Florida and other private and public partners. The Florida SBDC Network, headquartered at the University of West Florida, is nationally accredited by the Association of SBDCs and is a recipient of the President’s E Award for Export Service. Florida SBDC services are extended to the public on a nondiscriminatory basis. Language assistance services are available for individuals with limited English proficiency. For more information, please visit www.FloridaSBDC.org.

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]
Jun. 5, 2022|

SBDC network urges business owners to have a plan to deal with hurricane damage

The Florida SBDC Network, the state’s principal provider of small business assistance, urges small business owners to prepare for the 2021 Atlantic hurricane season, which began June 1 and extends through November.
Jul. 19, 2021|

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Sep. 14, 2017|

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This is a community service of Indian River Magazine Inc. in the aftermath of Hurricane Irma. If you have an announcement of a reopening, a cancellation, a confirmation, help needed, a discount or a post-hurricane deal you would like to share please email Publisher Gregory Enns at [email protected] We will share your news immediately […]

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