Here are resources for disaster relief for businesses.
Anthony Ferrer with the Springfield Business Improvement District clean team, uses a chain saw to cut a section of this tree that blew over in Court Square following the tornado.Businesses damaged or destroyed by a tornado can get help, although some may face technical roadblocks.
As featured in the June 6 edition of Business Monday from The Republican, here are resources for disaster relief for businesses:
SBA Assistance
• SBA provides low-interest business loans of up to $2 million to cover both repair of physical damage and to help a business overcome distaster-related economic injury.
Rates will not exceed 4 percent for businesses with no other credit options and repayment terms of up to 30 years are available.
If your business property secures and existing mortgage, a refinance of that mortgage can be included in the new loan.
For more information, call (800) 659-2955 [TTY (800) 877-8339]
Disaster Unemployment Assistance
• Provides unemployment benefits to individuals who have become unemployed as a result of a presidentially declared major disaster.
• Self-employed persons who cannot work as a result of the disaster can also apply for benefits.
For more information, call (877) 872-5627 [TTY (877) 889-5627]
FEMA Assistance
May be available for sole proprietors who have disaster-related damage to vehicles or tools needed for their jobs.
For more information, call (800) 632-3362 [TTY (800) 462-7585]
IRS Disaster Relief
May allow you to deduct disaster-related losses from your prior year's tax return. Filing an amended return may allow you to receive an immediate tax refund.