Recovery Resources for Small Businesses

[Laura 0]

Last week's terrorist strike and both its short- and-long term effects on the aviation industry are big issues right now. At this very moment Congress is discussing what to do. In the meantime professionals in the skydiving industry -- many of whom operate as independents and under DBA's -- as well as many others, are out of work. However, there may be compensation and assistance available. To start off, you might want to be in touch with your Congressional representative.
You can locate their contact information at the following website: http://www.house.gov
Make sure that you keep yourselves on your Congressperson's radar.
Get plugged into the Non-Aviation-Specific Disaster Recovery system as soon as possible!
This means taking 3 steps:
1. Contact your local chapter of the American Red Cross and explain your situation.
Although the American Red Cross may not be able to provide financial assistance, Red Cross representatives are well-trained and highly-skilled at helping disaster victims find the resources and contacts they need during a crisis. The Red Cross does not accept payment for any referrals or services offered, and generally will not even accept a donation from a client during the time of a disaster.
2. ASAP, individuals who have been left unemployed should also register with the Federal Emergency Management Agency (FEMA) by calling (800) 462-9029, or (800) 462-7585 (TTY) for the hearing and speech impaired. These toll-free telephone numbers will operate from 8 a.m. to 8 p.m. seven days a week until further notice. Callers should be prepared to provide their name, Social Security Number, address, and telephone number and should plan to spend 20-30 minutes on the call. Detailed information about this step can be found on our website: http://www.PrepareRespondRecover.com/news
3. Get ready to file an application for a Disaster Assistance Loan from the Small Business Administration. This step cannot be taken until FEMA registration has been completed, but be prepared to return the completed form as soon as you receive it. You'll most likely be interested in an Economic Injury Disaster Loan (EIDL). This loan provides working capital to small businesses and small agricultural cooperatives to assist them through the disaster recovery period. EIDL assistance is available only to applicants with no credit available elsewhere -- that is, if the business and its owners cannot provide for their own recovery from non-government sources. This sounds like it might help those who are self-employed or operating as a "DBA" -- but please remember that I AM NOT an official representative of the SBA and I CANNOT evaluate or make recommendations regarding anyone's eligibility for this or any other federal program.
If you are planning to apply for any of the Disaster Loans it is VERY important to work within these deadlines:
Filing Deadline for applications for physical damage to homes,
personal property, businesses: NOVEMBER 10, 2001
Filing Deadline for applications for economic injury: JUNE 11, 2002
Detailed information is available as follows:
SBA Disaster Assistance Overview:
http://www.PrepareRespondRecover.com/sbaoverview
Specifics about SBA Loans for 9/11/2001 Terrorist Attack Victims
http://www.PrepareRespondRecover.com/sbaloans
Steps 4 and 5 are of a more individual nature:
4. Check your business insurance policies. You may have Business Interruption coverage that will provide you with funds to cover operating expenses. Call your insurance agent or insurance company directly. Before calling your insurance company, however, you might want to consider hiring a Public Insurance Adjuster. A PIA works for you and will negotiate with your insurance company on your behalf in exchange for a percentage of the final settlement amount (usually 10%). To find a PIA, you can contact the National Association of Public Insurance Adjusters at: http://www.napia.com.
5. Contact your creditors; many offer Hardship Programs that will cover your monthly payments while your income has been interrupted. More detailed information on this and other Disaster Response and Recovery issues can be found at: http://www.PrepareRespondRecover.com/articles/coping.html
Good luck,
-L