Small companies in the course of Hurricane Ida who suffered damages might be qualified for grants, loans, and financial assistance. The secret is to use as quickly as possible so you can get these funds to get your service up and running.
Disaster Relief Available for Businesses in Path of Hurricane Ida
The course of damage Hurricane Ida left begun on August 29, when it made landfall in Louisiana. It then relocated to Mississippi prior to heading to the Northeast. There it created chaos in New York and New Jersey along with some counties in Connecticut, Delaware, and Pennsylvania.
When parts of the states impacted by Ida get catastrophe statements, federal funds can begin streaming in to assist. To date Louisiana, New York, and New Jersey have actually gotten the classification. This will enable people and services to begin getting federal assistance.
For small companies, this implies loans from the Small Business Administration (SBA) through the Economic Injury Disaster Loans(EIDL). And in many cases, the Community Development Financial Institutions Fund ( CDFI Fund) can likewise assist underserved neighborhoods
Louisiana Businesses Eligible for Ida Relief
In Louisiana the statement covers the following places:
Ascension, Assumption, East Baton Rouge, East Feliciana, Iberia, Iberville, Jefferson, Lafourche, Livingston, Orleans, Plaquemines, Pointe Coupee, St. Bernard, St. Charles, St. Helena, St. James, St. John the Baptist, St. Martin, St. Mary, St. Tammany, Tangipahoa, Terrebonne, Washington, West Baton Rouge, and West Feliciana parishes. These parishes are qualified for both Physical and Economic Injury Disaster Loans from the SBA.
New York Declares Disaster Emergency Following Ida
The statement in New York covers Bronx, Kings, Queens, Richmond, and Westchester counties. These places are qualified for Physical and Economic Injury Disaster Loans from the SBA.
New Jersey Businesses Eligible for Ida Relief
The catastrophe statement in New Jersey covers Bergen, Gloucester, Hunterdon, Middlesex, Passaic, and Somerset counties. These counties are qualified for both Physical and Economic Injury Disaster Loans from the SBA.
New Jersey has actually likewise developed a $10 million grant program for small companies impacted by Ida. The grant program makes it possible for small companies and non-profits with approximately 50 staff members to request grants of $1,000 to $5,000 dollars. Landlords and home-based services are not qualified for this grant program.
The following small companies and many personal not-for-profit companies in the following surrounding counties are qualified to use just for SBA Economic Injury Disaster Loans.
- Connecticut– Fairfield
- Delaware– Bucks, New Castle
- New Jersey– Atlantic, Camden, Cumberland, Essex, Hudson, Mercer, Monmouth, Morris, Salem, Sussex, Union, and Warren
- New York– Nassau, Putnam, Orange, Rockland
- Pennsylvania– Philadelphia
SBA Reaches Out to Businesses Affected by Ida
As a small company or service of any size for that matter, the SBA supplies loans as much as $2 million through EIDL. This cash is for fixing or changing equipment and devices, stock, and other organization properties in addition to realty that are harmed or ruined. The SBA can likewise provide more cash to assist with the expense of enhancing, safeguarding, avoiding, and decreasing the very same catastrophe from taking location in the future. The rate of interest for services can be as low as 2.855%and 2%for personal not-for-profit companies.
For house owners, catastrophe loans as much as $200,000 are readily available to fix or change harmed or damaged property. Furthermore, property owners and tenants are qualified for approximately $40,000 to fix or change harmed or damaged personal effects. For these loans, the rates of interest are 1.563%with terms approximately 30 years.
When making an application for the loans, initially you require to get in touch with the Federal Emergency Management Agency at www.disasterassistance.gov You can use online along with get extra catastrophe support info and download applications at https://disasterloanassistance.sba.gov/
If you require to speak to the SBA’s Customer Service Center for details on SBA catastrophe help, you can call (800) 659-2955 or e-mail email@example.com Deaf or hard-of-hearing people can call (800) 877-8339
Completed applications ought to be sent by mail to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
You can likewise go to the U.S. Chamber of Commerce website’s Disaster Help Desk for Business to get small company support.
Here are the links to resources for the states most impacted by Hurricane Ida:
- Louisiana– https://gohsep.la.gov/emergency/HurricaneIda
- Mississippi– https://www.msema.org/hurricane-ida/
- New York– https://www.governor.ny.gov/programs/governors-relief-and-response-resources
- New Jersey– https://www.nj.gov/ida/
- Pennsylvania– https://www.pema.pa.gov/Recovery/Pages/default.aspx
- Connecticut– https://uwc.211 ct.org/tropical-storm/
- Delaware– https://dema.delaware.gov/ and https://governor.delaware.gov/wp-content/uploads/sites/24/2021/09/ DE-Flood-Cleanup-Assistance. pdf
Sad as it sounds there are some wicked residue bags who benefit from individuals when they are down by committing frauds throughout these dreadful times.
The frauds generally include getting you some grant cash rapidly; nevertheless, they will inform you need to pay a processing charge. Remember you do not need to spend for federal government grants and a genuine federal government firm will not ask you to pay a sophisticated processing cost.
If you get a call informing you to get a money card for any total up to spend for the processing charge of a grant, hang up. If the firm the fraudster is declaring to represent exists, call them and discover on your own.