Hurricane Florence Recovery Resources

Agencies:
CERF+ – The Artists Safety Net
SBA – www.sbtdc.org/hurricaneflorence 800-228-8443

From North Carolina Arts Council:
Hurricane Florence Recovery Resources for Arts Organizations and Artists


From Small Business Administration:

SBA Disaster Recovery for Small Businesses Seminar Held

A member of the ACCC Executive Board, Vice President Mark Kelly, attended the SBA Seminar on October 15, 2018 to gather more information for ACCC members whose businesses have been impacted by Hurricane Florence.

Help is still available.

If your business (studio, inventory, supplies, loss of income, etc.) has been impacted by Hurricane Florence (physical loss: studio, inventory, supplies, etc. and/or economic loss: income), please consider using the following resources for "Hurricane Florence Business Recovery. The program is a collaboration between the U.S. Small Business Administration, the Small Business Technology Development Center (SBDTC) at Eastern Carolina University, and Thread Capital.

For information visit: www.sbtdc.org/hurricaneflorence or call 800-228-8443

Here's some quick information to review provided by the SBA:

Provides FREE and confidential counseling; primarily 1:1 business counseling, but also disaster recovery

Deadline for applications: 11/14/2018 for physical damage; 01/31/2019 for economic damage

There are no grants available; low interest, long-term loans only

Financial reports and tax returns necessary

Contact your insurance company even if you don't have flood insurance

Loan approval can take anywhere from 2 weeks to 9 months, so "bridge loans" are available through Thread Capital at the NC Rural Center

SBA Physical Disaster Recovery Loan

long-term

physical loss up to $2M

property, machinery, inventory, etc.

loan amounts above any insurance payments

20% of loan may be applied to preventing future losses

Economic Injury Disaster Loan (EIDC)

for small businesses and most private non-profit organizations

up to $2M for lost revenue

be able to show >120% of cash flow to qualify for loan amount

also private home disaster loans: $200K house, $40K contents

"DON'T DO IT ALONE" – SBA is here to help with:

loan application creation

records reconciliation

finding new physical space, including moving costs

disaster unemployment assistance for owners and employees