Types of Assistance Your Company Can Get After an Emergency

There are few things in the world that will disrupt your business or damage the facility that you own. However, if a storm destroys your building or an illness like COVID disrupts your sales. There are SBA disaster loans that can help you take care of these expenses. Here are a few types of assistance that you can get after an emergency.

Financial Assistance For Your Facility

A tornado or hurricane can do a great deal of damage to the building that houses your company. This disruption could cost you sales especially if you are unable to serve your customers. There is financial assistance available to you that allows you to hire the contractors who will rebuild your facility and pay for the new materials that they will require to complete the job. Once you have everything secure on your property, contact your bank and ask them what your next step is. They can inform you what the qualifications are for an SBA disaster loan and help you start the application process to get it.

Help When Your Company Has an Economic Issue

There are many reasons why your company may have troubles due to an economic crisis. Many struggled recently when COVID caused businesses to close their doors for a while to keep everyone safe. When this becomes a problem for your organization, you can reach out to your bank to discuss the possibility of applying for an SBA disaster loan. If you need cash quickly to take care of an immediate problem, there is an option to get an advance while you wait for the rest to be dispersed. Keep in mind, there will be other businesses experiencing the same situation so you will want to get your paperwork in as soon as possible.

Take Care of Your Staff During a Crisis

While you are trying to get your company up and running, your employees are searching for ways to pay their bills during a period they will receive little income. Your insurance may cover some of their income while you are shut down. You can also take part in the Paycheck Protection Program, or PPP. This money is only to be used to satisfy your payroll each period so that your staff can go about their daily lives with few interruptions. To receive this SBA disaster loan, research what is required to apply then gather the information so it can be submitted.