Looking for Assistance Post Hurricane Helene?

By Duane Adams –

The impact of Hurricane Helene has changed the topography of the region, and remnants of the storm will be with us for the remainder of our lifetimes.

As if the pandemic wasn’t enough, business owners are once again struggling to make unexpected life-altering decisions. Many are questioning whether to continue to press forward or just use this setback as an opportunity to embark on a new horizon. This is not an easy road to cross.

As with any unforeseen circumstance, business advisors are scrambling to provide guidance to help clients with the necessary due diligence to make tough decisions. Funds are finite, and applying for them is a time-sensitive matter, making the situation even more stressful. Fortunately, the Economic Development Partnership of North Carolina has published a list of steps to business recovery. Resource providers have found this shared list to be a useful guide as they assist clients in navigating the process of accessing the appropriate resources.

Here is a rundown of the recommended steps to take for anyone who may not yet be connected with a trusted advisor.

Contact your insurance carrier to file your claim. Be sure to document and make a list of damages by taking photos. Before and after images would be helpful.

Register with the Federal Emergency Management Agency (FEMA). If a disaster declaration has been made for your area, contact FEMA. They have an app that you can download at no cost from your smart phone’s app store. You can also call (800) 621-3362.

Talk with a free, confidential business counselor. Call (800) 228-8443 or email [email protected] to get connected to a statewide network of support. All inquiries will receive a response from a confidential business counselor within two business days. Se Habla Español.

Experienced business counselors can help you:

• Assess the financial impact of your business
• Reconstruct financial statements
• Develop forward-looking plans for rebuilding
• Evaluate options with creditors, vendors and suppliers
• Provide information on the types of disaster loans and grants available
• Prepare disaster loan applications

NB: This service is provided through a collaboration between the Small Business and Technology Development Center (SBTDC), the Small Business Center Network (SBCN), and the Economic Development Partnership of NC (EDPNC).

If needed, apply for business recovery funding. You may need a bridge loan, and longtime recovery loan, and grant funding. Talk with a business counselor to explore possibilities. Options include:

• Mountain BizWorks Business Recovery Fund: Supports NC small Businesses and family farms as they recover. Bridge loans are available for up to $100,000. More information at Mountainbizworks.org/helene.
• US Small Business Administration Disaster Loan: Provides low interest disaster loans for homeowners, businesses, renters, and non-profits. There are two types of SBA disaster loans: 1) Physical disaster loans of up to $2M to cover uninsured or underinsured losses; and, 2) economic injury disaster loans of up to $2M to meet financial obligations. Find nore information online at sba.gov/funding-programs/disaster-assistance.
• Grant funding: Several targeted grant programs provide support to small businesses with amounts typically between $5,000 and $25,000. Visit wncstrongtogether.org to learn more about available grants.

If needed, file an unemployment insurance (UI) claim. If you are not eligible for UI benefits, the business owner or employee may be eligible for Disaster Unemployment Assistance (DUA). DUA is a federal program that provides temporary payments to people in a federally declared disaster area whose employment has been lost or interrupted as a result of the disaster. Business owners who are self-employed, a farmer, or a commercial fisherman who are underemployed as a direct result of the disaster may be eligible.
Go to des.nc.gov for more information.

Be wary of rumors and misinformation. This is common after natural disasters and often leads people to delay real recovery plans. Help keep yourself and your community safe by being aware of rumors and scams and sharing official information from trusted sources. A list of common rumors about NC’s response to Hurricane Helene is available at ncdps.gov, and a searchable rumor database is available at FEMA.gov.

If you have a North Carolina business that has been impacted by Hurricane Helene, please don’t hesitate to reach out to the Small Business Center Network (SBCN) to set up an appointment to speak with a trusted advisor (ncsbc.net). The SBCN provides counseling, programs, and outreach in all 100 NC counties at no cost.

Duane Adams is Associate Director at the A-B Tech Small Business Center. Learn more by visiting abtech.edu/SBC or call (828) 398-7950.