According to the Federal Emergency Management Agency (FEMA), it can be quite difficult to reestablish after a natural disaster. Actually, almost 40% of small businesses don’t reopen their doors after the natural disaster. With both the hurricanes Harvey and Irma, many small businesses have been badly affected. In case you’re one of those affected small businesses, here we explain some of the guidelines to help you get back on your feet.
As you rebuild your business, you might get offers from different organizations. Obviously, you need to usually conduct thorough research on a company before going into business with them, but it’s primarily important now because your cash flow has been affected. Here are some of the important things that you need to keep in your mind:
You need to carry out some online research. Con men are constantly in a rush to get you to agree and hand over your cash. If the deal appears too good to be true, perform some research online about the business and person. You could additionally talk with a person that you belief to get their suggestions. In case the business continuously trying to push you quickly, it might not be reasonable.
Don’t pay in advance or pay earlier. Otherwise, you run the risk of getting your cash taken and the business disappearing. It is necessary to have a legally binding agreement in place so you don’t get tricked. Consider your repayment options. Credit cards are the best solution, as they have built-in fraud protection program. You have to avoid paying through cash, checks, or wire transfers.
Additionally, the Federal Trade Commission offers fraud alerts to offer you the latest advice and tips for avoiding scammers. Use fraud alerts. The Federal Trade Commission offers fraud alerts to give you the advice and suggestions for avoiding scammers and con men.
Beware Of Con Man
Scammers and con men can also pose themselves as government officials, charities or even relatives and friends. Most of the scams happen via phone. In case you get a phone call from someone and asked to provide your personal or business financial details, you have to hang up the call. Government agencies such as the Internal Revenue Service or Federal Trade Commission don’t call to receive payments or your information. Ignore any emails or texts asking for the similar details. Block any of that type of scam callers who ask for payments via phone, e mail or texts. In case you’re not sure, visit your local government office and speak to them.
Go To Your Lender
In case you’ve taken out a small business loan or line of credit with a bank or lender, contact them immediately to let them know the level of the damage done to your business. Several banks have accommodated to those affected by the storm, granting or refunding late charges, offering later payments and refunding fees from using non-brand ATMs.
Search For Government Disaster Relief Funding
Recovery from a natural disaster can be quite expensive for a small business, so it is good for you to see which lenders can offer you financial help. For instance, The Small Business Administration (SBA) is offering disaster loans at low interest rate for businesses that are suffering from Harvey and Irma. Additionally you can also get the help of FEMA, offering emergency cash grants to the disaster affected businesses. It is additionally good to check your local Small Business Development Center to recover any lost and important records and fill out applications needed for requesting for disaster relief funds.
The process of rebuilding your small business following a natural disaster is quite complicated. Unfortunately, if you are affected by the hurricane Irma or Harvey, you can get the help from the above mentioned sources.