FLVBEOC

Business Disaster Toolkit » After a Disaster - Rebuilding

STATEWIDE PRIVATE SECTOR – RE-ENTRY PROGRAM

When local emergency management officials, law enforcement and the State Emergency Response Team (SERT) have determined the area is safe and secure for the private sector to re-enter following a disaster the focus will shift to the recovery of the community.

DISASTER RECOVERY RESOURCES

  • When you are able to return to your business location it is important to document the damage sustained during the disaster.
  • Complete the online Business Damage Assessment tool available on the Florida Virtual Business Emergency Operations Center (VBEOC) located on the homepage. This information will provide valuable economic impact information to the Department of Economic Opportunity and SERT leadership.
  • Economic assistance for the private sector may be available based on the magnitude of the disaster and overall economic impact to the community.

U.S. Small Business Administration Disaster Recovery Loan

  • Businesses of all sizes may apply for a Physical Disaster Loan from the U.S. Small Business Administration to repair or replace damaged real estate, equipment, inventory or fixtures. This type of loan may be increased by as much as 20% of the verified losses to protect property against future disasters of the same type. These loans will only cover uninsured or under-insured losses.
  • The maximum loan amount is $2.0 million with an interest rate not to exceed 4%, if the applicant, as determined by SBA, is unable to obtain credit from another source.
  • If it is determined that alternative credit is available elsewhere, the interest rate will not exceed 8%. For this type of loan, repayment can be scheduled for up to 30 years.

Florida Small Business Emergency Bridge Loan

  • Provides a source of expedient cash flow to small businesses impacted by a disaster. These short-term, interest-free working capital loans are intended to bridge the gap” between the time a major catastrophe hits and when a business has secured longer term recovery resources, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance.
  • “Bridges” the gap between a disaster and recovery by enabling the business to remain open or recover as soon as possible.
  • Additional information can be found at http://www.floridasbdc.org

Disaster Unemployment Assistance Program (DUA)

  • Helps employers retain their workforce in times of temporary slowdown by encouraging work sharing as an alternative to layoff. The program permits prorated reemployment assistance benefits to employees whose work hours and earnings are reduced as part of a Short Time Compensation (STC) Plan to avoid total layoff of some employees.
  • Eligible individuals have 30 days from the official announcement by the Department of Economic Opportunity to file a claim for DUA.
  • Employees may apply after they have exhausted entitlement to state reemployment assistance and worked or lived in a disaster-declared county and became unemployed as a direct result of a declared disaster. Additional eligibility requirements may be in effect.
  • Additional information can be found at http://www.floridajobs.org/RA

Short Time Compensation Program

  • Helps employers retain their workforce in times of temporary slowdown by encouraging work sharing as an alternative to layoff. The program permits prorated reemployment assistance benefits to employees whose work hours and earnings are reduced as part of a Short Time Compensation (STC) Plan to avoid total layoff of some employees.
  • Reduced hours must be used as a temporary solution to avoid a temporary layoff of employees. Employees must be full-time, permanent, with a set number of hours per week.
  • Employer must submit a Short Time Compensation plan to Department of Economic Opportunity for approval.
  • Short Time Compensation benefits are payable when normal hours of work are reduced from 10-40%. If the normal work week exceeds 40 hours, the percentage will be based on 40 hours.
  • Additional Information can be found at http://www.floridajobs.org

Related Link

Florida Department of Economic Opportunity : http://www.floridajobs.org

Florida Division of Emergency Management : http://www.floridadisaster.org

Federal Emergency Management Agency : https://www.ready.gov/business

U.S. Small Business Administration : https://www.sba.gov