Hurricane Sandy took quite a toll on the area, and local small businesses were not spared the superstorm's wrath.
As with homeowners, Parsippany's businesses may have to look to the state and federal government for help in getting things back to normal. To that end, the New Jersey Small Business Development Center is partnering with the U.S. Small Business Administration's Office of Disaster Assistance (with assistance from the Parsippany Area Chamber of Commerce) to present a free seminar offering mom-and-pops and other local concerns the information they need to bounce back from Sandy.
According to organizers, the one-hour session will cover:
• How to apply for a Business Disaster Loan
• The different funds available for your business under the SBA Disaster Loan Program
• Economic Injury (Working Capital)
• Physical Losses
The event takes place Thursday at 10 a.m. at the Centenary College Learning Center at 300 Littleton Road, 3rd Floor.
Whether you can attend the Thursday session or not, the Small Business Administration offers tips for small businesses trying to recover from a disaster.
1) File insurance claims as soon as possible, if you haven't already done so. The National Association of Insurance Commissioners offers important advice and tips for filing your claim. The National Flood Insurance Program also provides information on filing a flood insurance claim.
2) The SBA offers several low-interest, long-term disaster loans to small businesses in declared disaster areas, including business physical disaster loans and economic injury disaster loans. You can apply for loans up to $2 million for both uninsured and underinsured damages.
You can apply directly online. Once submitted, the SBA will send an inspector to estimate the cost of damage.
3) Apply for tax relief if needed, which will allow for expedited returns or delayed tax filings.
4) FEMA and the Red Cross also offer a number of services, including free legal services, crisis counseling and advice for financial recovery.