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Hurricane Ian Catastrophe Aid Choices for Enterprise House owners


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Hurricane Ian as we speak

Hurricane Ian made landfall in Florida on September 28, 2022, and once more in South Carolina on September 30, 2022. The storm traveled throughout the Southeastern United States leaving a path of destruction for householders, small enterprise homeowners, and vacationers. The whole affect of the storm remains to be being assessed, however as of Monday, October 3, 2022, there have been 68 deaths reported in Florida, North Carolina, and Cuba.

All through Florida, there are nonetheless about 620,000 houses and companies with no energy, which is barely a fraction of the two.6 million energy outages reported late final week. There was extreme flooding from heavy rainfall and harmful storm surges reported in elements of all impacted states, and the flooding is predicted to proceed as rivers and different waterways rise. Residents and enterprise homeowners are persevering with to be rescued by volunteers and Emergency response groups, and people which are secure are trying to find catastrophe aid choices.

Assets for small enterprise homeowners impacted by Hurricane Ian

In case your small enterprise was affected by Hurricane Ian, you’re in all probability questioning what to do subsequent. Whereas there’s no simple option to navigate the rebuilding course of after a pure catastrophe, we’ve compiled an inventory of Hurricane Ian sources small enterprise homeowners can use to begin the catastrophe restoration course of.

Report harm

The state of Florida continues to observe the harm attributable to Hurricane Ian. In an effort to have the ability to present efficient help to small enterprise homeowners, the state is asking enterprise homeowners to finish the Enterprise Injury Evaluation Survey for Hurricane Ian. The survey permits authorities to evaluate the enterprise wants in every group. After finishing the survey, you’ll be contacted by federal, state, or native governments in case you point out that you’d like extra info or request particular companies.

Insurance coverage claims

Contact what you are promoting insurance coverage provider as quickly as attainable to file a declare concerning any harm from Hurricane Ian. Whereas most complete enterprise insurance coverage insurance policies do not need a separate coverage for pure disasters, harm from hurricanes is roofed by a mixture of flood insurance coverage, windstorm protection, and your business’s property insurance coverage. For small companies in Florida, you might also have a coverage or protection referred to as, “wind, hurricane, and hail,” which can cowl a lot of the harm from Hurricane Ian. Since hurricane harm, together with lack of revenues, could also be lined by a number of insurance policies, make sure you contact all of the insurance coverage carriers you’re employed with.

The insurance coverage declare course of could be lengthy and traumatic, however observe these steps to assist expedite your insurance coverage reimbursement:

  • Contact insurance coverage carriers immediately
  • Take images or movies of all harm
  • Create a list checklist, that features any enterprise tools that was broken
  • Hold an in depth declare log to maintain observe of declare kinds and conversations
  • Meet with the insurance coverage adjuster and call a public adjuster in case you have issues
  • Get three restore estimates, however watch out for fraudulent contractors

Tax aid

Small enterprise homeowners which are making an attempt to get better from damages attributable to Hurricane Ian might also be involved about how they’ll arrange and pay their 2021 prolonged federal earnings taxes or their 2022 quarterly tax funds. Nonetheless, the IRS has issued an extension for Florida enterprise homeowners affected by the storm. The press launch from the IRS on September 29, 2022, acknowledged that “People and households affected by Hurricane Ian that reside or have a enterprise anyplace within the state of Florida qualify for tax aid.” Whereas the tax deadline extension mechanically applies to small companies in Florida, enterprise homeowners in different areas that have been affected by Hurricane Ian can name 866-562-5227 to request the identical extensions. 

The submitting and cost deadline was prolonged to February 15, 2023, for any funds or returns that have been due between September 23, 2022, and February 14, 2023. Small enterprise homeowners in Florida that had filed an extension to file their 2021 earnings tax returns not have to adjust to the October 17, 2022 deadline, however the 2021 tax funds due on April 18, 2022, will not be included within the further extension. The February 2023 prolonged deadline additionally applies to the quarterly estimated tax funds that will be due on January 17, 2023, and the payroll and excise tax returns that will should be accomplished on October 31, 2022, and January 31, 2023.

FEMA

The Federal Emergency Administration Company (FEMA) is a beneficial useful resource for companies recovering from Hurricane Ian. Their web site provides details about native sources and funding choices.  FEMA provides catastrophe help to each companies and people, which could be accessed by making use of at www.disasterassistance.gov. Registering with FEMA is a required step for small enterprise homeowners to entry the SBA catastrophe loans and different help applications. The FEMA web site and cell app additionally include many hyperlinks for involved enterprise homeowners, Hurricane Ian FAQs, and brochures in a number of languages explaining the best way to navigate the FEMA course of after the hurricane.

SBDC

The Florida Small Enterprise Growth Middle (SBDC) Community can be offering help to companies impacted by Hurricane Ian that need assistance making use of for monetary help or different hurricane aid choices. There isn’t any value to entrepreneurs that use the SBDC companies, like these out there by means of the Cellular Help Facilities (MAC). The center’s cell help autos deliver laptops, printers, web entry, and different sources into the communities severely impacted so enterprise homeowners can begin the method of making use of for aid efforts, like insurance coverage claims, FEMA help, and SBA loans on safe web sites. Along with the Cellular Help Facilities deployed by the SBDC, the middle additionally works with the U.S. Small Enterprise Administration to arrange Enterprise Restoration Facilities in different affected communities.

American Purple Cross

The American Purple Cross catastrophe response workforce provides aid to these affected by Hurricane Ian. The group helps householders, renters, and enterprise homeowners get related to requirements like meals, water, shelter, and healthcare suppliers. Their web site provides a number of tips about staying secure throughout and after a hurricane and particular sources for these with disabilities. Since Thursday, September 29, the Purple Cross and their companions have been in a position to arrange 100 shelters all through Florida, Georgia, and South Carolina.

Different native sources

Authorities businesses, native communities, and enterprise growth entities are working laborious to offer all the mandatory sources to these most affected by Hurricane Ian. Along with monetary help and federal help, there are a number of organizations out there for people who suffered losses.

Put up-hurricane security

Cleansing up the property that your own home or enterprise sits on could be an amazing job after a hurricane. Whereas the worst of Ian is over, it will be significant for householders and entrepreneurs to remain secure and observe pointers for particles removing, turbines, and standing water.  Earlier than starting any kind of clean-up efforts, make sure you monitor the climate in your space.

Particles removing

If the property surrounding what you are promoting or the inside of the constructing, you lease or personal is cluttered with particles. Observe these security pointers when starting clean-up.

  • Examine for electrical hazards and keep away from any water, instruments, or branches which are touching a stay energy line.
  • Utility traces, like cable and web wires, could also be tangled in damaged branches. Assume all wires are stay.
  • Watch out for uprooted or damaged branches when cleansing round and beneath them.
  • Examine for pick-up dates and accepted objects on this particles removing checklist, printed by Fox35 in Orlando on social media.

Generator Security

Many small companies in Florida are nonetheless with out energy. A number of the most impacted areas embrace Tallahassee, Sarasota, Puerto Rico, Naples, and Fort Meyers. Companies, houses, and First Responders are counting on turbines to maintain their perishable objects contemporary and supply energy throughout their restoration efforts. When working a transportable generator, take note the next ideas:

  • Don’t run a transportable generator indoors.
  • Examine the wattage of powered gadgets so the generator’s capability will not be exceeded.
  • Don’t join a generator on to {the electrical} field.
  • Don’t refuel your generator whereas it’s working.

Standing water

Attempt to drain standing water inside or round your business’s property. Standing water offers a breeding floor for mosquitos and creates a hazard for turbines and fallen energy traces. Standing water additionally presents a menace of harm as a result of there may be typically particles hiding within the water. Contact the native water and sewer corporations for help with extreme standing water.

Financing choices for small enterprise homeowners

Enterprise homeowners which have suffered property harm or have been unable to open for enterprise are searching for monetary help to restore and rebuild their corporations. Whereas a variety of storm harm is roofed by insurance coverage, insurance coverage assessments and payouts can take months to be accepted and paid. In case you are involved concerning the monetary affect of Hurricane Ian on what you are promoting, contemplate studying about these small enterprise mortgage choices.

SBA Enterprise Bodily Catastrophe Mortgage

Bodily catastrophe loans give enterprise homeowners entry to funding to restore and exchange property that was broken throughout a serious catastrophe. Property might embrace actual property, equipment, autos, and home equipment.

Residents and companies impacted by Hurricane Fiona in Puerto Rico are in a position to apply for a mortgage by means of the U.S. Small Enterprise Administration (SBA). They’re accepting purposes for bodily catastrophe loans by means of November 21, 2022

Small enterprise homeowners in Florida that suffered losses throughout Hurricane Ian are additionally eligible to use for bodily catastrophe loans with the SBA. Presently, the deadline for Hurricane Ian mortgage purposes is November 28, 2022.

SBA Financial Harm Catastrophe Loans (EIDL)

EIDL are low-interest, long-term financing choices for small enterprise homeowners and nonprofit organizations which are unable to satisfy their mandatory monetary obligations in the course of the catastrophe restoration course of. The funds could also be used to make mortgage funds and pay working bills, like utility payments and payroll prices.

Small companies that incurred financial harm throughout Hurricane Fiona can apply for the SBA EIDL by means of June 21, 2023.

Companies impacted by Hurricane Ian can apply for EIDL loans by means of June 29, 2023.

Backside Line

Since President Joe Biden formally declared Florida a state of emergency on September 24, numerous information releases have tried to deliver related info to small enterprise homeowners and householders within the affected areas. The quantity of data following Hurricane Ian could be overwhelming, however small enterprise homeowners can use this checklist of sources as a reference. One of the best place to begin restoration efforts for a enterprise proprietor is by registering for catastrophe help with FEMA. Your particular person enterprise wants might also embrace exploring financing choices. Attain out to Biz2Credit as we speak in case you have questions concerning the SBA mortgage choices out there or different small enterprise loans.

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