Small Businesses Receive Relief From Hurricane Isaac

business loan for disaster relief Hurricane Isaac caused damage to several states with wind gusts over 100 mph recorded and flooding in many of the counties it hit. Louisiana, Florida, Mississippi, and Alabama all suffered from flooding with one county in Louisiana experiencing severe weather conditions.

The Small Business Administration often provides disaster assistance loans to those effected. Following Hurricane Isaac the SBA has approved over 48 assistance loans for residents and businesses in Mississippi.

Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta, delivered the news on September 21st.

Other counties in Alabama and Louisiana are also eligible for economic injury disaster loans from the Small Business Administration.

According to the SBA, businesses and non-profits may borrow up to $2 million to cover the repair or replacement of equipment, real estate, inventory, and other business property. Small businesses may use economic injury disaster loans to cover financial obligations such as operating expenses.

Those who have been effected by Hurricane Isaac who believe they may be eligible can apply online; the deadline for applications is October 31st, 2012.

The Takeaway

Each year thousands of businesses deal with the adverse effects of mother nature. Luckily, the Small Business Administration is available to help those in need. Exploring other financial options is another way for your business to relief from natural disasters. AmOne can help you get connected with a small business loan for your business needs. Contact us today to learn more about how you can get your business back up and running in no time.