North Carolina’s leading resources for small and midsize businesses are collaborating with federal partners to provide recovery assistance to NC businesses impacted by Hurricane Florence. Assistance includes help with developing recovery strategies as well as access to capital needed to support immediate cleanup costs and longer-term recovery from physical damage and economic losses.
- Contact your insurance carrier to file your claim. If you are leasing business space, ensure that your lease owner has contacted their insurance carrier. Take pictures of the damage.
- Register with FEMA. Once a federal disaster declaration has been made for your area (check here for a list of declared counties, we update it daily), contact FEMA by phone or online at http://www.fema.gov to report any loss. FEMA will take your information and provide you with a registration number. For business losses, FEMA will refer you to the U.S. Small Business Administration.FEMA Phone Registration
1-800-621-FEMA (3362) or TTY
1-800-462-7585 (speech & hearing impaired).You can also visit a FEMA/SBA Disaster Recovery Center (DRC) in your area. DRC’s are temporary assistance centers that are established after a federal disaster declaration has been made. These centers have staff from both FEMA and SBA and oftentimes other state resources. We update our list of locations regularly as more recovery centers open across the region. These centers are often busy, so if you are able to register by phone or online, we recommend that. (If you want to learn what other resources are available, you may want to visit a center directly.) SBA also has Business Recovery Centers (BRC’s). These locations are staffed by SBA staff only. Often less busy, but they only handle SBA loan application
- Contact the North Carolina SBTDC near you for assistance in developing your overall recovery plan. Our organization has been helping small and mid-size business in NC for 35 years. Our counseling staff can help you: (a) Assess the financial impact on your business (b) Reconstruct financial statements (c) Explore options with creditors (d) Prepare your emergency bridge loan and/or SBA disaster loan application
- If needed, apply for a Rapid Recovery loan. If you need speedy access to capital, Thread Capital, the NC Rural Center’s lending arm, offers Rapid Recovery loans up to $50,000 dollars. Click here to apply. These short-term loans can be repaid with insurance proceeds or other disaster loan proceeds (such as an SBA disaster loan). The application requirements and documentation are minimal, but SBTDC counselors can help with your application if you need assistance.
- If needed, apply for an SBA disaster loan. SBA provides low interest disaster loans for homeowners, renters, businesses, and non-profits. SBTDC counselors can assist you in preparing your loan package which often requires some homework on your part – gathering documents and tax records, etc. SBTDC counselors can also help evaluate your ability to repay a loan and help you make good decisions for your recovery. There are two types of SBA disaster loans: (1) physical damage; and (2) economic injury. Apply online, visit an SBTDC office, or visit a recovery center in your area.