It is published by Jones Walker’s Disaster Preparedness and Recovery Team, which for more than a decade, has been at the forefront of regional and national disaster recovery efforts, helping clients prepare for, respond to, and recover from crises of all types and magnitudes. We had to buy new equipment and software that would facilitate working remotely. What is Your Business’s Asset Turnover Ratio? Our Clients Have Access to SBA Specialists When Needed ... Our portfolio reviews and audits allow lenders to identify potential file issues that need attention before they become an issue in the loan guaranty purchase process or an SBA audit, as well as areas in which training is needed. Pros of SBA Disaster Loans 1. From the current coronavirus (COVID-19) global pandemic to hurricanes and flooding, businesses can rely on Jones Walker for effective guidance to prepare for, respond to, and recover from crises of all types and magnitudes. The Small Business Association (SBA) is offering Economic Injury Disaster Loans of up to $2 million. We’re here to help small businesses thrive, and become resilient enough to withstand any kind of natural or man-made disaster. If possible, locate and secure important financial documents and keep them in your possession, i.e., mortgage, auto loan, medical insurance, etc. A disaster recovery loan from the SBA is a low-interest, fixed-rate long-term loan. Next to insurance, an SBA low-interest disaster loan may serve as the primary source of money for long term recovery including real estate property repairs and replacement of contents destroyed in the hurricane. In April 2018, Three Brothers Bakery received the SBA Phoenix Award for Outstanding Small Business Disaster Recovery. Its a lot of researching on the internet to find the information you need. In an April 9 webinar for D.C.-area realtors, SBA specialist Roderick Johnson said the Economic Injury Disaster Loan program was running “low on funds.” (National Association of … Long term recovery, SBA." As mentioned above, your first step in the application process for an SBA disaster loan is to fill out an application at the Disaster Loan Assistance portal through the SBA. Plus, the application process can be complicated and competitive. Did you apply for an SBA loan after a disaster? Posted in FEMA Updates. Disaster Recovery/SBA Loan Outreach Centers Will Close For the Holiday. © 2020 Fora Financial. But stories of recovery are countless — and Jones Walker is here to help at every step. This funding is provided in order to assist you in recovering the costs associated with damage from natural disasters. loan and scheduling disbursements. Following a disaster — once you’ve ensured that everyone’s safe — the first thing your mind turns to is how much you’re going to have to pay to put the pieces back together. The SBA provides disaster loans to businesses that have been affected by a disaster. To be eligible for an SBA Disaster Loan, your business must be located within an area that’s in a Presidential or SBA Agency Declared disaster area. That’s why the fact that SBA loans have a maximum of $2,000,000 is a significant advantage for your business. So again, immediate needs, FEMA. SBA disaster loans are the primary source of money to pay for repair or replacement costs not fully covered by insurance or other compensation. Editor’s Note: This post was updated for accuracy and comprehensiveness in March 2019. Business capital is also made available through US Business Funding, a sister company of Fora Financial. Still, you should keep in mind that the application process is fairly complicated and uncertain. After you carefully weigh the pros and cons mentioned in this post, evaluate your other potential financing options so that you can make the most affordable and timely solution for your company. SBA Office of Disaster Assistance | 1-800-659-2955 | 409 3rd St, SW. Washington, DC 20416 The SBA is the federal government’s primary source of money for the long-term rebuilding of disaster-damaged private property. Like for many other small businesses, revenues started to slow down, while expenses remained the same or increased. For more information, call the SBA Disaster Recovery Customer Service Center on 1-800-659-2955, or for local support, call Nicki Parr, WEV Business Recovery Specialist on 805-456-2348. Worked closely with management on contingency planning. Join to Connect SBA. A disaster recovery specialist is someone who protects the data of a business, as well as their hardware and software, by creating technical disaster recovery plans and business continuity plans. SBA announced that Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and private nonprofit organizations in Mississippi due to Hurricane Zeta on Oct. 28-29, 2020. This estimate is based upon 5 US Small Business Administration Disaster Recovery Specialist salary report(s) provided by employees or estimated based upon statistical methods. They coordinate, test, and update disaster recovery plans to make sure things work seamlessly when needed, and also provide training for staff members. I work from home as a Loan Specialist. Compared to other working capital options, SBA Disaster Loans will likely be among your most affordable financing options. Insurance may pay for some of it, but there’s a good chance there will be a gap. 1. Next Steps Is an SBA Disaster Loan Right for Your Business? Federal officials hope this additional time…, The deadline to apply for low-interest loans from the U.S. Small Business Administration (SBA) for businesses and residents affected by the August 2016 flooding in Louisiana is October 13, 2016 (with the deadline for business physical disaster loans now extended to November 14, 2016). receiving a partial SBA loan that is not adequate to meet needs include funds to repair or replace damaged personal property, repair or replace vehicles, and cover moving and storage costs. I received my official offer for Office of Disaster Assistance, Customer Service Center - CSC. Louisianans in parishes affected by August flooding now have until Monday, Nov.14, 2016, to register for federal disaster assistance. Homeowners and renters may borrow up to $40,000 to replace personal property, including vehicles. Disaster Recovery (DR) and Disaster-Recovery-as-a-Service (DRaaS) have become key for modern business as both a backup and recovery solution as well as a business continuity service. If your business is damaged or destroyed due to a hurricane, flooding, fire, or drought, you could qualify for a SBA Disaster Loan. small business administration disaster assistance jobs. Call the HOPE Coalition America hotline at 1-888-388-HOPE (4673) to be connected with a certified financial disaster specialist. While ZipRecruiter is seeing annual salaries as high as $121,000 and as low as $60,500, the majority of Disaster Recovery Specialist salaries currently range between $70,500 (25th percentile) to $87,000 (75th percentile) across the United States. • After a disaster declaration, SBA disaster loans are the primary source of federal assistance to help individuals and business owners pay for disaster losses not covered by insurance or other recoveries. The key features of a disaster recovery software are: Automatic backup of critical data and systems. Federal Disaster Assistance and SBA Loan deadlines extended to Nov. 14, 2016. Apply for SBA Disaster Recovery Loans Economic Injury Disaster Loan Assistance Small business owners in all U.S. states, Washington D.C., and territories are currently eligible to apply for a long term low-interest loan due to Coronavirus (COVID-19). You should also keep in mind that the SBA will determine whether you can obtain financing elsewhere. The average Disaster Recovery Specialist salary is $73,522 as of October 28, 2020, but the salary range typically falls between $59,017 and $104,664.Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. If, however, you are unable to provide portions of the required information online, you may use one of the following methods to deliver documents to the SBA. Step 2. A physical disaster loan from the SBA, on the other hand, carries a maximum loan amount of $2,000,000 and may be paid back over 30 years. Unlike typical business loans, SBA disaster loans are relatively difficult to qualify for. A free inside look at company reviews and salaries posted anonymously by employees. SBA History in Making Disaster Loans The SBA’s low interest loan program was designed by Congress to enable those affected by unforeseen catastrophic events to recover with as little adverse impact as possible. The Disaster Prep and Recovery Blog provides timely insights and updates on recent local, state and federal developments focused on assisting individuals and companies impacted by a disaster. Joseph P. Dominguez Disaster Recovery Specialist at United States Small Business Administration Washington D.C. Metro Area 500+ connections Affordable with Relatively Lenient Terms. The easily understandable billing structure. Disaster Recovery Specialist, June 1994 – September 2004 disaster loan from the Small Business Administration, The Ultimate Guide to Obtaining Small Business Grants, 5 Check Cashing Options Without A Business Bank Account. Disasters come in many forms. Disaster Recovery Specialist at SBA United States 4 connections. Disasters can be extremely expensive. Flexible options for recovery. Without enough financing, you’ll be forced to allow any debts to accumulate interest. If you’re eligible for an SBA disaster loan, you should consider it as an option. Maine business owner worried she'll have to close after SBA denies loan. By increasing resilience before disasters occur and streamlining the post-disaster recovery process, we're able to fortify people against unnecessary stress and trauma. Step 2: The SBA application review process begins. A disaster recovery specialist is someone who protects the data of a business, as well as their hardware and software, by creating technical disaster recovery plans and business continuity plans. Developed three contingency sites for full emergency operations. By Michael Rhea on October 18, 2016. SBA’s Role in Disaster Recovery SBA Disaster Assistance Program Heather Hairgrove Lender Relations Specialist Kentucky District Office. Disaster Recovery Specialist, August 2009 – May 2015 Mall Corporation – New Cityland, CA. A free inside look at company reviews and salaries posted anonymously by employees. A case manager assists with closing the . Products and amounts offered vary by state. A former disaster recovery specialist for the U.S. Small Business Administration has pleaded guilty... Know the facts, ignore the myths and rumors ... Top News Videos for sba disaster loan application. Browse 3,414 DISASTER RECOVERY SPECIALIST Jobs ($70K-$92K) hiring now from companies with openings. 1. How much does a Disaster Recovery Specialist make? For example, if you have damaged property or need to repair or replace equipment. The State of Louisiana and FEMA advise that the deadline to apply for disaster assistance has been extended, so that all eligible residents have enough time to apply for assistance. Hurricanes Harvey and Irma have caused massive devastation, and the SBA is staffing up to respond to the increased flow of disaster loan applications from homeowners, renters and businesses of all sizes. If you want to apply for a disaster loan, first register with FEMA and then go to disasterloanassistance.sba.gov. In fact, if you meet the eligibility requirements, the interest on your SBA disaster loan won’t exceed four percent. Disaster Recovery offers a specialist division for application on a variety of claims. of CDBG Disaster Recovery (DR) Assistance The Department has previously issued guidance related to duplication of benefit requirements in the form of a Federal Register notice (November 16, 2011) and has elaborated on that guidance through training materials, direct technical assistance to grantees and responses to questions posed by grantees. If your business is damaged or destroyed due to a hurricane, flooding, fire, or drought, you could qualify for a SBA Disaster Loan. 9,200 disaster recovery jobs available. Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities. Long term recovery, SBA." Compared to other working capital options, the application process is fairly complicated and competitive is in a Recovery. 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