From : U.S. Small Business Administration - Rick Jenkins
Location : Washington , D.C.
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Question :
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I am sorry but we are out of time. I have very much enjoyed chatting with you today. If you have any questions about SBA programs and services, please visit our web site at www.sba.gov
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From : annys revilla
Location : , florida
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Question :
This is for the insurance lady....what would you say is the best insurance company, in terms of responsiveness and good coverage, for a person who has a business and several income properties
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While I can't recommend a specific insurance company, I do recommend that you see the information at our consumer site www.trustedchoice.com. There you can find a link to our partners and locate an agent in your area. An agent can discuss a company's claims paying ability, types of coverages and many other topics.
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From : Steve E
Location : , Iowa
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Question :
I'm in the process of appyimg for a SBA loan, but I'm also waiting to hear from the insurance company. Should i just send in the sba app? I'm thinking it might make more sense to waitin on my insurance
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You do not need to wiat on your insurance settlement before applying to SBA for a disaster loan. In fact, we encourage you not to wait. We will account for your insurance proceeds when you settle with your company
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From : Roger Webster
Location : Cleveland , Ohio
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Question :
Are there any local seminars the sba or iiaa has to help small business people? How can I get one on one help and information.
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A great place to find one-on-one help with your disaster preparedness questions is with your insurance agent. He/she can discuss your situation and recommend coverages and can provide you and your employees with a great deal of education about insurance, disasters and loss prevention.
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From : Harris CK
Location : , New York
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Question :
I'm from the Albany area, which was declared a disaster area after the flood. I read a lot of the stories about SBA's fumbles after Hurricane Katrina. I'm wary about dealing with the SBA....have you guys made the process easier? I heard it took a long time to get an answer about loan approvals.
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SBA is processing applications from numerous disasters around our country and we are doing so very quickly. I would encourage you to submit an application and give us the opportunity to help you. You may contact our customer service center at (800) 659-2955 for information.
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From : M Williams
Location : , Minnesota
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Why isdn't flood insurance included in homeowner policies? And should EVERYONE buy flood insurance:?
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As many carriers write a high concentration of homes in many flood-prone areas, the potential for financial devastion of one or more companies existed. The federal government stepped in during the 1960's and developed a program to cover this and worked with the insurance industry to adminster the program. It has been a separate coverage available since that time. Yes, EVERYONE, should buy the coverage, if available. The potential for a flood exists just about everywhere. Talk with your agent and discuss the program in detail.
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From : L. harris
Location : , Mississippii
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Question :
Can you tell me more about having adequate insurance coverage.
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Everyone should take the time to sit down with their insurance agent regulary to review all aspects of their insurance coverages. You have invested a lot of financial resources in your possession and it is vital that your protect them. Your agent can help you determine the value of your home, the value of its contents, how much liability coverage your need, if you should purchase addtional coverages, how much life insurance you need and a whole host of other issues that you may not think of regulary. The time to define "adequate" for your situation is BEFORE a loss.
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From : Pedro Gonzalez
Location : Denver , Co.
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Question :
What's the process to get a SBA disaster loan, how long does it take? How do I know if I qualify?
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If you are loacted in a declared disaster area that was declared by the President, you should first register with the Federal Emergency Management Agency by calling (800) 621-3362. If the county you live in was declared by SBA only, then you would need to call SBA's Customer Service Center at (800) 659-2955. Either way, you may call us and we will guide you through the process. Once we receive a completed application from you we will send an inspector to the damaged property to determine the extent of your damage. Your application will then be assigned to a loan officer for processing. We are processing disaster loan aplications very quickly. It is important that you submit a completed applcation. That will help us process the applicaiton more quickly.
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From : Jess munoz
Location : , CA
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Question :
I live in the Santa Clarita area. AFter hearingn about the folks in Louisna who wound up going after the insurance companies because of the hassles they got with their claims after hurricane Katrina, I'm concerned about the next big fire or earthquake in CA....what can a homeowner do to make sure we're protected, and will be able to get what we need to rebuild after a major disaster? We're very suspicious of the insurance companies now
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Now, before you have a loss is the time to prepare. Sit down with your agent and discuss your policies IN DETAIL, including the limits of coverage, the deductible, and the EXCLUSIONS. If coverages are excluded that you think are vital, work with your agent to secure those coverages. Also, inquire about the financial stability of your insurance company and ask what the ratings mean. Call your state insurance department if have specific questions about the insurance carrier and their claims paying ability. It is important to understand that while we hear a lot about the folks that suffered a loss and had insurance woes that 96% of the claims submitted have been paid favorably in LA.
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From : alex
Location : orlando , florida
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Question :
how do i apply for a sba loan?
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SBA disaster loans are available once a disaster declaration is made. You may call our Customer Service Center at (800) 659-2955 to determine if are located in a declared disasetr area. If you are, you may request an application and we will mail you one. Once you receive it you will need to complete it and return it to us.
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From : Sally Mills
Location : Little Rock , Arkansas
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Question :
Ive heard that I should have proper back ups to store my business information in the event of a disaster. How can I do this? And What to you recommend?
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Preserving important business records is vital. Be sure to keep current copies of financial data, accounting records, personnel information, marketing strategies, insurance records, inventory information, including supplier information, etc. safely stored at an off-site location. Backup computer data on a daily basis and store the backups off-site. Also, develop a list of alternate suppliers in the event your main supplier also suffers major damage in a disaster.
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From : Ed Provencial
Location : , GA
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Question :
I run a store in a mini-mall. I heard about a fire in Florida, where a couple of stores burned, but they couldn't get federal assistance. If it happnes to my store, and say a few others, could the SBA help us? What other recourse would we have if something like that happened, again, to just a few stores?
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Disaster declarations are made based on a lot of different factors. SBA makes its disaster loan programs avaialble if the President isses a major disaster declaration or SBA's Administrator decclares an Agency disaster declaration.
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From : D. Williams
Location : , MS
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Are there any special circumstances if I move to an area that is in a flood zone. Does the city offer flood insureance, how can I get it?
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If you move to an area that lies in a federally mapped flood zone, then it is likely that your home lender will require that you purchase the coverage prior to closing your loan. This coverage is purchased either through an agent or directly from an insurance company. Talk to your insurance agent to discuss your options.
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From : Kaye Bryant
Location : , Iowa
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Can you tell me more about the iiaba. What do you do and how can you help my small business. Are you located in Iowa?
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Kaye, IIABA is an insurance trade assocation. We have agent members all across the U.S. and they insurance thousands of small businesses. We have 400 members in Iowa. Visit our consumer website at http://www.trustedchoice.com and click on "Find a Trusted Choice" agent to locate an agent that will most likely be just down the street from your business.
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From : Kaye Bryant
Location : , Iowa
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Can you tell me how long it takes to get an answer from SBA and on how much an individual can apply for.
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If you are applying for a disaster loan, SBA is processing these applications very quickly. It is important that you submit a complete application. This will allow us to process your applicaiton more quickly. Individual homeowners may apply for up to $200,000 to repair their primary residence. Homeowners and renters may also apply for up to $40,000 for damaged or destroyed personal property.
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From : Annette Colbert Beavers
Location : Oklahoma City , OK
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Question :
What is the single greatest challenge facing a small business today?
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While there are many challenges facing small busiensses, one of the most critical may be protecting your financial investment in the event of a disaster. Many small businesses fail to adequately insure their businesses for a variety of reasons. Without insurance coverage, many are not able to continue operations after a loss.
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From : MK Simmons
Location : , New Jersey
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I run a business and I'm thking about applyiung for a disaster loan for the losses we had after the flooding. I had some damage to my house too. I thought I just had to deal with SBA? Why are they telling us to call FEMA? Kinda confusing sometimes. Thanks
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Even though we are the U. S. Small Business Adminsitration, SBA is the Federal government's primary source of money for the long term recovery of not just businesses, but homeowners and renters as well. Because you sustained damage to your home, you should register with FEMA in order to be considered for all forms of disaster assistance. You may reach FEMA at (800) 621-3362. IF you don't register you may not receive all the help that you are eligible for.
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From : Keisha Nixon
Location : , Arkansas
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Would you recommend renter's insurance for people that live in apartments. I know that many people lost all of their possessions in the recent storms.
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Keisha, we absolutely recommend this coverage. Your agent can help you determine the amount of coverage you will need, if you can purchase flood coverage, and how much your premium will be. If you have auto insurnace, you can get a discount if you place both coverages together. Take the time to make a quick inventory of all your belongings and talk to your agent!
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From : Marshall Ivey
Location : Boaz , KY
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Question :
What kind of help can a roofing business that is having trouble keeping in business get? My business has had losses over the last 2 years. I need resources to keep in business.
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If you are having trouble securing insurance for your business due to losses, you should be able to find a specialty company that can help. Ask your agent to see if there might be some companies that work with businesses like yours and have special insurance programs to help until you can institute a loss prevention program that will keep your coverage more affordable and help you be a better insurance risk.
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From : CK Anniston
Location : , Nebraska
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I have a cousin who was hit by the tornadoes in Kansas. I run my business out of my home. I know SBA makes loans to business...what happens if my home is destroyed?
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First, please accept my best wishes for you, your cousin and the people of Kansas as they recover from these terrible tornadoes.
SBA Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Businesses of any size (including home based businesses) and private non-profit organizations may borrow up to $1.5 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses only, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.
SBA, along with our partners at FEMA, have established several Disaster Recovery Centers in the Greensburg area where people can meet with our customer service representatives. You may call our customer service center (800) 659-2955 for the locations or to request an application.
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From : Carol McLaurin
Location : Raleigh , NC
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Will SBA be making recommendations about leave policies regarding pandemic flu? For example, how can you incent employees to stay home if they are sick? How much leave should a business offer?
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Please see http://www.pandemicflu.gov/ for information on this topic. Thank you!
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From : Todd Addison
Location : , NJ
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Question :
How does business interruption coverage work. Is this something a businss owner should carry?
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If a catastrophe, such as a fire, causes your place of business to be temporarily unusable, your business may have to relocate or even close down for awhile. Business interruption (also known as business income) insurance is designed to help in these situations.
Business Interruption Insurance Covers:
• Profits you would have earned, based on your financial records, had your property not been damaged by the covered disaster.
• Operating expenses, such as electricity, that may occur even if the main business activities are temporarily stalled.
• Some policies cover expenses incurred from operating out of a temporary location while the original premises are being repaired.
How to Purchase Business Interruption Insurance:
Business interruption insurance is not sold as a policy by itself. It may be added onto a property insurance policy or included in a package policy, such as a business owner's policy (BOP). Discuss all the options with you agent.
• Make sure your policy limits cover a sufficient amount of time to rebuild your business. It can take more time than anticipated after a major disaster to get your business functioning again. Generally, there is a 48-hour waiting period before the coverage kicks in.
• The policy price is related to the risk of a fire or other disaster damaging your business premises. Factors that affect this are location, the nature of your business, and how easily your business could operate out of a temporary location.
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From : K Ackermann
Location : , Georgia
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Do you have suggestionsn on how to store records? And if my important records are destroyed and I have to apply for a loan, how does the SBA handle that....not having tax returns, title documents, etc?
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Preserving important business records is vital. Be sure to keep current copies of financial data, accounting records, personnel information, marketing strategies, insurance records, inventory information, including supplier information, etc. safely stored at an off-site location. Backup computer data on a daily basis and store the backups off-site. Also, develop a list of alternate suppliers in the event your main supplier also suffers major damage in a disaster. Small Business Development Centers can help a business owner re-create financial records. SBA also will use Federal income tax returns that we obtain directly from the IRS. SBA will work with you to get the information we need to process your disaster loan request.
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From : America's 5 Star's Construction/Teresa H Rucker
Location : Antioch , TN
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Question :
I'm a woman owned minority company. I would like to on your contractors listing for assisting with disaster victoms. What do i need to do. My number is 615-482-2685 Please call or email me at :Email: americas5starsconstruction@hotmail.com
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We suggest that you contact the disaster relief agencies in your area and make sure that they are aware of your services and how to contact your business in the the event of an emergency.
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From : Sara Erickson
Location : Oakland , California
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How do I know if I have enough insurance coverage for my home. Is there some way to determine?
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Your agent should have cost estimators that will help you determine the value of the buildings and these estimates are based on things like construction, locations, age, hazardous conditions and type of occupancy. In order to determine the amount of liability you might need, consider the likelihood of being sued based on your occupration or if you have a great deal of visitors to your home, have a swimming pool or dangerous pet Your agent can also help you determine the replacement value of your contents. It’s a good policy to sit down with you agent at least once a year to review all your coverages, discuss things that you have purchased or sold ,changes to your your home and determine the correct amount of coverage needed.
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From : Jackie
Location : Columbia , SC
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I work for a trucking company in SC and how can we get on a call list when emergencies have occurred from Hurricanes and other disaster situations whereas debris and other hauling material needs removal
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You might want to contact the Red Cross or other disaster relief agencies in your area to make sure that they are aware of your service. Thank you!
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From : Dave Johnston
Location : Ft. Lauderdale , FL
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Question :
I have a small business in Florida, and part of our business is helping other companies with business continuity, so I feel a little uncomfortable posting here since it might seem like a sales pitch. However - I thought it was worth mentioning that there is a relatively new product on the market that is being very well received by small business owners down here. It's from SonicWall, and it's a family of hardware devices called CDP (for Continuous Data Protection). Small businesses love them because they provide hands-free backup, and even off-site backup, with no tapes. Just wanted to mention it since a lot of the small businesses I deal with have a hard time keeping reliable, up-to-date backup tapes.
Regards.
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This sound great. We will make a note of your service and check it out!
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From : S. Harrison
Location : , New Hampshire
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How can SBA help me after severe damage to my home caused by flooding. My policy alone won't be enough to help with repairs.
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If the Presdient or SBA's Administrator issues a disaster declaration for property damage in the county where you home is located, SBA offers disaster loans of up to $200,000 to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are also eligible for up to $40,000 to repair or replace damaged or destroyed personal property. Our loans cover losses that are not fully compensated by insurance or other recoveries.
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From : Daniel Princz
Location : Miami , FL
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Question :
Do you have a publication available for guidance on Disaster Readiness that we can download?
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There is a diaster-preparedness website available at
http://www.sba.gov/npm2006/
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From : Raymond Ramos
Location : Bronx , New York
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Question :
I live in NYC and I want to know where I can get relief if there is another power failure.
I run a production company that rely heavily on internet usage, telephone lines and fax machines and not to mention the recording studio.
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In the event that a significant power outage occurs and causes enough economic injury that causes SBA to issue an Economic Injury Disaster Declaration, then SBA would offer economic injury disaster loans to small businesses. The declaration would be widely publicized and how and where to apply for assistance.
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From : Rosalind Elkins
Location : Sulphur , LA
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Question :
I'm a survivor of Rita,I don't own a business,but I do support everyone who has not recovered and hope they will get help. Thank You, rslndelkins@suddenlink.net
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Thank you for your kind words, Rosalind.
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From : Jennifer Roberts
Location : Lillian , Al
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Question :
My husband lost his fishing buisness to Ivan.We did not get any help with recovery and are struggleing to get started back.Is there any kind of help we can get?
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The deadline to apply for SBA disaster assistance has long passed. SBA may accept late disaster loan applications after the announced deadline only when SBA determines that the late filing resulted from substantial causes beyond the control of the applicant. You may write a letter to us explaining your circumstances and we will make a determination of whether those circumstances warrant accepting a late application. You may also contact the Birmingham District Office to discuss SBA’s non-disaster small business programs. Their telephone number is (205) 290-7101.
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From : Susan
Location : Tarpon Springs , FL
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My insurance agent will no longer cover our business for wind and hail coverage. Is general property insurance without the wind and hail coverage adequate?
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You will want to find another way to secure these coverages. Find out from your agent the reason that he cannot secure coverages. In most states there are state funds or insurance pools where these coverages can be found. If you live in a particulary hazardous region, you can expect to pay more for the coverage.
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From : Jeanie Teut
Location : Ute , Iowa
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Question :
I am an administrative assistant for a small business in Iowa the owns several motels and car washes. I am wondering if to apply for disaster relief, do I have to apply for each location individually? They are located in different counties if that makes a difference. Thank you
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On April 27, SBA declared Monona County and 52 other Iowa counties an economic injury disaster area due to the winter storms that occurred February 23 through March 2, 2007. If your small business is suffering a financial impact because of the storms, and your business is in a declared county, you may apply to SBA for a working capital loan to help you meet your ongoing expenses such as payroll, accounts payable and other bills that you can’t pay because of the disaster. You should contact our Customer Service Center at (800) 659-2955.
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From : Sharon Timms
Location : Mount Vernon , Washington
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Question :
What kind of insurance should business and homeowners carry?
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Your agent should have cost estimators that will help you determine the value of the buildings and these estimates are based on things like construction, locations, age, hazardous conditions and type of occupancy. In order to determine the amount of liability you might need, consider the likelihood of being sued based on the type of business you run, or if you have a great deal of visitors to your business. Your agent can also help you determine the replacement value of your contents. It’s a good policy to sit down with you agent at least once a year to review all your coverages, discuss things that you have purchased or sold and determine the correct amount of coverage needed.
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From : Jeff Saloman
Location : Maimi , Florida
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Question :
Can you give some best preparedness tips often overlooked by business owners. What's the one thing we should know and do.
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You should develop a disaster plan that addresses many areas of your business such as employee relocation, technology backup, client contact, vendor contact, emergency response. You will want to make this a written plan that all employees are active participants in and test the plan often. Your insurance agent is a great resource to help with this planning and will brainstorm with you on all the areas to include. You can also purchase “disaster planning” kits that will help you set up your plan from a template.
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From : Sierra Long
Location : , Alabama
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Question :
With all that's happened with homeowner policies since hurricane Katrina, insurance companies that said a lot of the damages to homes was caused by wind and not water. What is the difference between flood insurance and wind insurance. Should homeowners have both?
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A flood comes from an excess of water on land that is normally dry. It can occur anywhere and yes, all homeowner’s should consider buying flood insurance. Wind insurance coverage damage to the dwelling from wind and it is usually covered by homeowner’s insurance unless the home is located in a coastal area that experiences windstorms regularly. Both should be considered by every homeowner. Talk to your agent to find out what your policy now covers and what coverage you might need.
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From : Tom Kelley
Location : Mt. Kisco , New York
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Question :
I've heard about business interruption insurance. Is this importnat to have, and should I spend the extra money to get it?
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If a catastrophe, such as a fire, causes your place of business to be temporarily unusable, your business may have to relocate or even close down for awhile. Business interruption (also known as business income) insurance is designed to help in these situations.
Business Interruption Insurance Covers:
• Profits you would have earned, based on your financial records, had your property not been damaged by the covered disaster.
• Operating expenses, such as electricity, that may occur even if the main business activities are temporarily stalled.
• Some policies cover expenses incurred from operating out of a temporary location while the original premises are being repaired.
How to Purchase Business Interruption Insurance:
Business interruption insurance is not sold as a policy by itself. It may be added onto a property insurance policy or included in a package policy, such as a business owner's policy (BOP). Discuss all the options with you agent.
• Make sure your policy limits cover a sufficient amount of time to rebuild your business. It can take more time than anticipated after a major disaster to get your business functioning again. Generally, there is a 48-hour waiting period before the coverage kicks in.
• The policy price is related to the risk of a fire or other disaster damaging your business premises. Factors that affect this are location, the nature of your business, and how easily your business could operate out of a temporary location.
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From : AK
Location : ,
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Question :
Are there any programs to support the purchase of generators before "disaster" strikes & the power supply is lost? How is a home office affected by bussiness oriented suppport either before or after the disaster?
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SBA can only provide disaster assistance after a disaster declaration is made. Our loans may be used to repair or replace disaster damaged business real estate, machinery and equipment, inventory and other business assets. We also can cover damage to a primary residence and personal property. We are not permitted to lend disaster loan funds prior to a disaster.
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From : U.S. Business Adminstration - Madelyn Flannagan
Location : Washington , D.C.
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Question :
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Welcome. It is my pleasure to join you today for the SBA live Web chat series…and welcome to everyone joining us
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From : Noraida Jeffers
Location : Albuquerque , New Mexico
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Question :
Can you tell me how to know if I have enough insurance for my home and busienss?
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Your agent should have cost estimators that will help you determine the value of the buildings and these estimates are based on things like construction, locations, age, hazardous conditions and type of occupancy. In order to determine the amount of liability you might need, consider the likelihood of being sued based on the type of business you run, or if you have a great deal of visitors to your business. Your agent can also help you determine the replacement value of your contents. It’s a good policy to sit down with you agent at least once a year to review all your coverages, discuss things that you have purchased or sold and determine the correct amount of coverage needed.
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From : Arthur Johnson
Location : Bay St. Louis , Mississippi
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Question :
We cannot finish repairing our house and we have a note. Is it too late to apply for disaster loan that would refinance our home as well? So timing and what may be applied for are my questions. Thanks. A. Johnson, late because I didn't think I qualified, but friends have encouraged me.
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The filing deadline for Hurricane Katrina was extended several times to April 10, 2006. SBA may accept late applications after the announced deadline only when SBA determines that the late filing resulted from substantial causes beyond the control of the applicant. You may write a letter to us explaining your circumstances and we will make a determination of whether those circumstances warrant accepting a late application
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From : Carlos Murrell
Location : Miami , Florida
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Question :
What can your company do to me with disaster planning. I've heard that hurricane season will start soon and I want to be ready.
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You should develop a disaster plan that addresses many areas of your business such as employee relocation, technology backup, client contact, vendor contact, emergency response. You will want to make this a written plan that all employees are active participants in and test the plan often. Your insurance agent is a great resource to help with this planning and will brainstorm with you on all the areas to include. You can also purchase “disaster planning” kits that will help you set up your plan from a template.
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From : U.S. Small Business Administration - Rick Jenkins
Location : Washington , D.C.
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Question :
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Good afternoon. It is a pleasure to be with you on SBA’s live web chat series. Thank you for joining us today.
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