In the aftermath of a major business disaster like a powerful hurricane, most small businesses face extreme challenges in order to recover, and in fact, some businesses never do recover. There are some steps you can take to help your business while you’re waiting for governmental agencies to provide the support you may need.
Contact Your Insurance Agent
At the earliest available opportunity, you should contact your insurance company and follow whatever procedures they require in order to make a claim. Make sure to provide contact information to your representative, in case your landline is unavailable.
Prepare Your Records
It will be extremely helpful to have all your records organized when discussing the situation with your insurance agent, or when applying for relief funding. If any of your business records were destroyed in the business disaster, there are some ways you can reconstruct those records. However, don’t attempt to re-enter the company grounds until officials have declared that it is safe to do so.
Look into Financing
One place you should check out first is the disaster loan program offered by the SBA, which is made available to homeowners, renters, and private organizations. It will be possible to apply for as much as $2 million in financial aid, and this can cover machinery and equipment, supplies, inventory, and real estate. In most cases, you will be notified within two or three weeks about whether your application has been approved or not, so you will be able to either make alternative plans or count on SBA funding.
Beware of Scams
While disasters will very often bring out the best qualities in people, they also provide opportunities for the criminal-minded to prey on victims. Whenever someone approaches you with an offer for assistance, make sure that you check their identification and go through due diligence. Anyone who charges you for disaster assistance is probably not a legitimate enterprise, so don’t get taken in by scammers.
Need Funding to Overcome a Business Disaster?
If your small business has recently undergone some kind of business disaster, such as going through a hurricane or severe storm, you may need financial help to recover from it. Contact us at Gulf to Atlantic Commercial Capital to explore some options we might be able to provide.