Hurricane Season is Here: Is Your Southeast Business Ready?

Hey ChumCity entrepreneurs, homeowners, and renters! Hurricane season is upon us, stretching all the way to November. At the U.S. Small Business Administration (SBA), we're not wondering if a storm will hit, but when. NOAA is predicting a wild ride – potentially 19 named storms, with up to nine turning into hurricanes, and possibly four major ones (Category 3+).

Hurricanes and floods can be brutal, especially for small businesses facing power outages, supply chain nightmares, or even total loss. As the SBA Regional Administrator, my message is simple: Prepare now. The SBA’s got your back with resources for before, during, and after the storm.

What’s the SBA All About?

We're all about helping small businesses thrive! Since '53, we've offered loans, grants, and rock-solid support. Our Office of Disaster Recovery & Resilience (ODR&R) is our dedicated disaster squad. Why? Because we know storms don't just wreck buildings – they crush dreams. Our team works year-round, helping businesses and homeowners recover with low-interest loans and connections to local heroes. Right now, we’re active in nearly 30 disaster zones, managing over 200 Economic Injury Disaster Loan declarations. We're ready to roll when you need us most.

SBA Disaster Assistance: Your Options

The SBA offers low-interest loans to fill the gaps when insurance doesn’t cover everything. It's a lifeline to rebuild, keep your business humming, or replace lost stuff. Here's the deal:

Physical Damage Loans:

Fixing property damaged by a disaster (no interest/payments for the first 12 months!)

• Businesses & Nonprofits: Up to $2 million for repairs/replacement of buildings, equipment, etc.
• Homeowners: Up to $500,000 to fix your primary home.
• Renters & Homeowners: Up to $100,000 for personal items.

Economic Injury Disaster Loans (EIDL):

For businesses and nonprofits struggling with cash flow post-disaster (again, no interest/payments for the first year!)

• Loan Amount: Up to $2 million to cover operating expenses impacted by the disaster.

Mitigation Assistance:

Want to storm-proof your property? Add up to 20% of your physical damage loan to fund projects like storm windows or elevating your building.

Paperwork to Gather

To smooth the SBA loan process, grab these documents before disaster strikes:

• Financial Records: Tax returns (business/personal), profit and loss statements, balance sheets.
• Insurance Information: Policy details and any payouts you've received.
• Proof of Damage: Photos, estimates, contractor quotes.
• Business Documents: License, articles of incorporation.
• Personal ID: Driver's license or other government ID.

Keep digital copies in a secure cloud or waterproof container!

Be Prepared, Stay Strong

The more you prep now, the faster you'll recover! Every business should have an emergency plan. When disaster hits, your local SBA team will be there, working with our partners to help you rebuild and come back stronger than ever. We know the recovery road can feel tough, but we're here to guide you every step.

Let's get ready together – because when the storm comes, we’ll be there!

Tyler Teresa is the U.S. Small Business Administration’s Southeast Regional Administrator.