Natural Disaster Recovery Loan

One of the unique functions of the Small Business Administration (SBA) is its role in helping entrepreneurs to recover from or react to disaster declarations. A state's Governor or the President of the US can create disaster declarations for your state or community. This is meant to help small businesses that have suffered financial loss or economic injury as a result of a disaster. Qualifying businesses or agricultural cooperatives may be eligible for what is known as an Economic Injury Disaster Loan (EIDL). You will still require to do some work on a business plan in planning a planning a business after a natural disaster.

One of the first things that a business plan helps you to structure is to establish the amount of the economic injury and operating needs. It is also important that the plan shows an amount not in excess of what the business could have paid had the disaster not occurred. Your business plan must present and weigh a) your debt obligations; b) operating expenses that mature during the period affected by the disaster and the amount you need to maintain a reasonable working capital condition; and c) and the expenses you could have met and a working capital position you could have maintained if the disaster would have never happened.

You can submit your business plan for disaster recovery purposes directly to the small business administration along with your personal income statement. There are four locations that work specifically to handle EIDL loans:

U.S. Small Business Administration
Disaster Assistance Customer Service Center
130 South Elmwood Avenue
Buffalo, NY 14202
1-800-659-2955

U.S. Small Business Administration
Field Operations Center- East
One Baltimore Pl.
Ste. 300
Atlanta, GA 30308
1-800-359-2227

U.S. Small Business Administration Disaster Assistance Processing and Disbursement Center
14925 Kingsport Road
Ft. Worth, TX 76155-2243
1-800-366-6303

U.S. Small Business Administration
Field Operations Center - West
P.O. Box 419004
Sacramento, CA 95841-9004
1-800-488-5323