Tips for Disaster Recovery for Small Business Owners

Hurricane Sandy has caused severe damage to many local businesses. If you're a small business owner, here's some helpful advice for how to recover.

1) File insurance claims as soon as possible, if you haven't already done so. The National Association of Insurance Commissioners offers important advice and tips for filing your claim. The National Flood Insurance Program also provides information on filing a flood insurance claim.

2) The SBA offers several low-interest, long-term disaster loans to small businesses in declared disaster areas, including business physical disaster loans and economic injury disaster loans. You can apply for loans up to $2 million for both uninsured and underinsured damages.

You can apply directly online. Once submitted, the SBA will send an inspector to estimate the cost of damage.

3) Apply for tax relief if needed, which will allow for expedited returns or delayed tax filings.

4) FEMA and the Red Cross also offer a number of services, including free legal services, crisis counseling and advice for financial recovery.

5) Nassau County’s Business Recovery Center is fully functional and has launched a new website to support its activities, which include a 24-hour hotline. The new website, www.nassaubackinbusiness.org, contains contacts and online links for small and medium-sized businesses in need of assistance of navigating Federal and State disaster relief offerings.

Businesses in need of assistance can call (516) 571-1745, email LEADS@NassauIDA.org for help, or visit www.nassaubackinbusiness.org.  An economic development professional will respond to any inquiry within 24 hours.

Ranger Sewer November 13, 2012 at 05:57 PM
Whoever wrote this NEVER delt with the SBA. The SBA is useless and do not loan money and do not help business.
Jaime Sumersille November 14, 2012 at 12:03 PM
@Ranger - The US Small Business Administration offers two types of disaster-relief loans to businesses. The Business Physical Disaster Loan helps businesses and not-for-profits in disaster areas replace or restore damaged property. The Economic Injury Disaster Loan is similar but helps address economic damage (e.g. lost revenue), regardless of physical damage. For more information, please visit www.sba.gov or call 1-800-659-2955. Jaime Sumersille Regional Editor, Nassau County


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