American Dream: Small Business Disaster Relief

Savannah Wilburn joined Tyler Ryan to talk about disaster relief programs for small business

COLUMBIA SC (WOLO) – The United States Small Business Administration offers several programs for small businesses that suffer a loss due to disaster.  The agency provides the following answers to common questions: 

Why is it important to prepare now?

• Hurricane season runs June 1^st to November 30^th, with peak season in August and September. There are some steps you can take to prepare for a disaster now.
• It is important for businesses to be prepared because 40% of businesses never open their doors again after disaster strikes.

How can businesses prepare now?

• Make sure you reassess your insurance policies.
• Store important documents in fire and water proof safes.
• Create a business continuity plan. Free plans and checklists can be found at ready.gov/business.

How can SBA help in the event of a disaster?

• SBA provides low interest loans to businesses, homeowners, renters and non-profits to rebuild, repair and replace in declared disaster areas. We also helps businesses with working capital if they have suffered an economic loss due to the disaster.
•  If you are affected by a disaster, you can visit sba.gov/disaster to apply for a loan.