SBA Disaster Loans for Business and Homeowners

The other thing is crisis. So consulting, capital, contracting, and crisis is what we do. Crisis meaning disaster. And I wanted to really talk about this today because this has been impacting our state for more than a couple of years. We had Ian. We had Nicole. We had Adalia. We had Debbie, Helene, now Milton. So what a lot of people don't realize is that SBA has funding programs to help you get back to whole if you're a business, any size business or nonprofit. Homeowner, most people don't realize that we assist homeowners in our disaster programs and renters. And again, to get you back to whole, we have certain limitations on it. You have to be able to say that your business was up and running prior to the event. It has to be located in one of the declared counties. If you're interested about that, I've got a couple of flyers with me that they give you a website, sba.gov forward slash disaster. And that will tell you what counties you might actually be eligible for. Go ahead, sir. These are loans through FEMA. The other thing is that we are a sister agency of FEMA, especially during disasters. And FEMA now has changed some of their programs. And they have some grants that are available now for businesses, which wasn't available before. So again, if you're affected, and I'll tell you that for Helene, Duval County is counted as a primary county. I mean, if you had physical loss or economic injury, you can apply for both of those. We have primary counties and then contiguous counties. The primary counties are those that have physical loss, typically. It could be anything from you lost your power for a couple of days. You lost a fence. You lost your roof. Lots of different things for houses, for businesses as well, anything that's affecting your business in the physical nature. Economic injury is the other part of what we do. Again, that's a little bit longer to determine. I'll say that. The physical injury, you're going to see right away. Storm hits, you've got something. You can see it. The economic injury may be because you lost a vendor that you're working with because they got blown out by a storm. It may be that you lost clients. Your clients aren't able and up and running operating, and therefore aren't taking your product or service. It could be that your employees may decide they don't want to live in Florida no more. We've been getting too much of Mother Nature's goodwill lately, and they want to get out of town. So anything like that that would impact the working capital position of your business, if you can tie it to the fact that it was related to the storm, it can be a loan that you can get. So non-profits as well, yes. In the disaster program, our regular traditional programs are not for non-profits. But in this program, yes, it's open to all. The maximum amount for a business loan is $2 million for physical or economic injury. For homeowners and renters, it's $500,000. For the contents, if you're a renter or a homeowner and you've lost your contents, that's up to $100,000. They're fixed rate loans, typically under 4%, yes, for as long a term as we can write it to make it able for you to repay. The max we can go is 30 years like we did on the COVID EIDL loans. We don't always go that far out on our disaster loans. But I'm here to let you know that you may not know this yet because we haven't set up disaster recovery centers here yet. It's coming. I'm trying to get one actually done in my office because we have free parking and it's easy to get to. But there will be more information coming out. So I'm going to give flyers to Randolph and if you guys want to pick them up. Some of them are geared towards homeowners. Some are renters. One that's more generic for all. But just wanted to let you know that the funding is out there and available now. The other thing, if you were impacted by storms, is that the state of Florida has an emergency bridge loan program. That program goes up to $50,000. It's for for-profit entities and it's no interest for the first year because it's supposed to be used as a bridge. And if you get approved for that and then get approved for SBA funding, our loan can take that loan out. So you don't have to worry about having two different debts at that point. But that's kind of what I wanted to say. All of our resource partners that I mentioned before can assist you with these applications. It's not that difficult. And when we actually get the recovery centers, I'll make sure that Randolph gets a list of them and that way he can spread it out to everybody that came today. But any questions? We're working on that. They're surge hiring right now to get more people to be on the ground for that. So we're waiting for that. They went over to the areas that were hardest hit first and then they're going to be coming over this way. Duval just got declared as a primary. So as soon as it gets declared a primary, then they'll set up a center. So yeah. And I have business cards if anybody wants business cards. So you got it? Pass those around. And thank you. That's it.