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DISASTER ASSISTANCE

 

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Some 40 percent of small businesses never reopen after a disaster, according to the Federal Emergency Management Agency.

 

There are many sources for small businesses to get help when they experience a disaster event.  Below is a list of those resources.




Houston Black Expo Relief Fund:

 

The Texas Black Expo and Emmy Award-winning producer, entrepreneur, and Houston native Rushion McDonald have teamed up to raise $100,000 for small businesses affected by Hurricane Harvey.  Eligible applicants will receive a one-time grant of $1,000 within 48 business hours of application approval.



The Small Business Admministration (SBA):

 

The SBA offers a range of low-interest loans to help small businesses recover from natural disasters.


Business and Industry (B&I) Guaranteed Loan Programs: [USDA]

 

Under the B&I Guaranteed Loan Program, loans can be made to eligible entities including corporations, partnerships, cooperatives, Federally-recognized Indian Tribes, individuals, and other legal entities to provide financial assistance for a variety of purposes, including capital expenditures, working capital, equipment and refinancing. Purposes can include the repair and damage to businesses as a result of the natural disaster.


Rural Business Development Grant Program: [USDA]

 

The Rural Business Development Grant Program (RBDG) was created under the 2014 Farm Bill, and consolidates the Rural Business Enterprise Grant (RBEG) and Rural Business Opportunity Grant (RBOG) Programs. USDA Rural Development is currently working on a rule to implement the program. We will keep the public advised as we move forward.


Intermediary Relending Program (IRP): [USDA]

 

(IRP) Under IRP, loans are made to intermediaries who provide loans to ultimate recipients for business facilities and community development projects. The loan is made to an intermediary re-lender who, in turn, establishes a revolving fund and re-lends to various entities for eligible purposes. Businesses impacted by natural disasters could possibly qualify as a recipient for the revolved funds under this program.



Rural Economic Development Loan and Grant (REDLG) Program: [USDA]

 

 The REDLG Program provides financial assistance to Utilities Programs electric and telephone borrowers to re-lend for a variety of economic business and community development purposes. Loans are provided to finance a broad array of projects including for-profit businesses. Utilities Programs borrowers may receive financing for grant purposes through either a grant to establish a revolving loan fund or a combination loan and grant.


Emergency Farm Loans: [USDA]

 

Have the President or Secretary of Agriculture declared or designated your area as a disaster or quarantine area?  If so, do you own or operate a farm or ranch in the primary or an adjoining county?  If you can answer “yes” to both of these questions, the U.S. Department of Agriculture's Farm Service Agency (USDA FSA) offers emergency loans that may help you.  Emergency loan funds may be used to:

 

-Restore or replace essential property.

-Pay all or part of production costs for the disaster year.

-Pay essential family living expenses.

-Reorganize the farming operation.

-Refinance certain debts.


Emergency Assistance for Livestock, Honeybees, and Farm-raised Fish Program (ELAP): [USDA]

 

The Emergency Assistance for Livestock, Honeybees, and Farm-Raised Fish Program (ELAP) provides $20 million each fiscal year in emergency assistance to eligible producers. The funds cover losses due to eligible weather or other events, like blizzards, disease (including cattle tick fever), water shortages, and wildfires.


Emergency Conservation Program (ECP) for Agricultural Producers: [USDA]

 

The Emergency Conservation Program (ECP) offers funding and assistance to farmers and ranchers to repair damage to farmlands caused by natural disasters. It also helps to put water conservation methods in place for times of severe drought and can help pay for their installation.


Noninsured Crop Disaster Assistance Program: [USDA]

 

The U.S. Department of Agriculture's Farm Service Agency's (USDA FSA) Noninsured Crop Disaster Assistance Program (NAP) offers payments to producers of eligible crops to protect against low yields, loss of inventory, or prevented planting due to a natural disaster.


Disaster Unemployment Assistance (Self-Employed): [DOL]

 

The Disaster Unemployment Assistance (DUA) program provides temporary benefits to people whose employment or self-employment has been lost or interrupted due to a major disaster.


Disaster Assistance and Emergency Relief Program for Individuals and Businesses: [TREASURY]

 

If you have damaged or lost property in an area declared a federal disaster by the President, you may be able to get money back from the IRS right now.  Individuals and businesses in a federally declared disaster area can get faster refunds by claiming disaster losses on their tax return for the prior year. You can usually do this by filing an amended return.


Restore Louisiana Small Business Program: [LOUISIANA]

 

Provides assistance to small businesses located in areas adversely affected by the 2016 Severe Storms and Flooding Events.  OCD-DRU will provide program assistance to eligible businesses and/or non-profit organizations through participating non-profit lenders, credit union and/or community development financial institutions who will implement and administer a lending program to assist impacted businesses and non-profits.

 

Community lenders will make loans to small businesses in the 51 flood-impacted parishes to provide working capital and funds to repair or replace movable equipment and machinery. Assistance for construction-related expenses is not available through this program.

 

The program will make loans between $20,000 and $50,000 to eligible businesses. In certain cases, loan amounts may be higher. If borrowers comply with program requirements, provide required documentation and make payments as agreed, the loan will be interest free and 20% of the loan will be forgiven when 80% of the principal is repaid.


The Florida Small Business Emergency Bridge Loan Program: [FLORIDA]

 

This program provides a source of expedient cash flow to Florida small businesses that have been physically and/or economically impacted by this storm.

 

These short-term, interest-free working capital loans are intended to “bridge the gap” between the time a major catastrophe hits and when a business has secured longer term recovery resources, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance.

 

Amount: Between $1,000 and $25,000.

Term: 90 or 180 days based on individual business circumstances.

Interest: Loans will be interest-free for the loan term.


Federal Home Loan Bank of Dallas (Bank): [DALLAS]

 

In response to Hurricane Harvey, the Federal Home Loan Bank of Dallas (Bank) is making available more than $6.7 million through three grant programs: $4.5 million is available to help members' employees with their recovery efforts; $2.0 million is available to assist small businesses with their recovery efforts; and $225,000 is available to support community-based organizations (CBOs) involved in the recovery efforts.

 


Recover Colorado Business Grants/Loans: [COLORADO]

 

The Recover Colorado Business Grant & Loan program assists small business and non-profits (including special districts). Fifty percent of the funds allocated are for low-and-moderate incomes businesses and individuals.

 

Grants of up to $10,000 or ($25,000 for entities with multiple flood impacted locations.) and Loans of up to $50,000 with favorable terms.


The North Carolina Small Business Recovery Fund: [NORTH CAROLINA]

 

The North Carolina Small Business Recovery Fund provides low-interest loans to businesses.

 

The fund provides gap financing as a complement to Small Business Administration and other disaster recovery programs. An SBA turndown does not disqualify applicants for these funds.  Loan Amount: Starting at $1,000, with no maximum loan size.  Loan Terms: Up to 10 years.  Average Rates: Between 5-9% (evaluated on a case-by-case basis).  Up to two years interest only and/or deferred payments (evaluated on a case-by-case basis).

 


The NY Rising Small Business Program: [NEW YORK]

 

The NY Rising Small Business Program renders grants of $50,000 or more to independently-owned and operated small businesses that suffered loss as a result of recent storms.


The Restore Louisiana Small Business Assistance Program: [LOUISIANA]

 

A total of $43 million is available to eligible small businesses and nonprofits in no-interest, partially forgivable loans of $20,000 to $50,000. The money can be used for working capital, rent, mortgage, utilities, non-owner employee wages and inventory. It also can be used for repairing or replacing movable equipment and machinery, though construction-related expenses are not eligible.

 


MO Small Business Disaster Loan Program: [MISOURI]

 

The Disaster Relief loan program, part of the MO Small Business Loan Program, intends to provide financial assistance and access to capital to businesses impacted by a natural disaster. This may include businesses sustaining direct property damage or local businesses sustaining interruptions to their operation and services because of temporary customer loss, temporary interference with access or other impacts. 

 

The interest rate is 3 percent with a 2-year deferral period or 1 percent interest rate for the 10-year term of the loan (borrower’s option);  The terms are typically 10 years or less but may be adjusted for adequate debt coverage. Loan repayment is quarterly principal and interest payments;  Payments may be auto debited from a checking or savings account;  The minimum loan amount is $2,500 and the maximum loan amount is $50,000.




 

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