If your business has been hit by a disaster, you can find financial help through the U.S. Small Business Administration (SBA) disaster recovery program. Its main aim is to provide an affordable, timely and assessable financial boost to small business owners in a declared disaster area. But the SBA disaster effort is not an immediate emergency relief program such as Red Cross assistance, temporary housing assistance, etc. It's a loan program designed help you in the long-term rebuilding and repairing of your business. Here's what you should know about the application:

1. The form asks you the same information that any bank would request before lending you money.
2. If you need help, SBA disaster personnel are available to explain the forms and give you assistance at no charge.
3. You may use the services of accountants or attorneys if you wish, but be sure they are reliable and that their fees are reasonable.
4. If you choose to use an attorney or an accountant, you must report those fees on your SBA loan application form.

Action Steps
The best contacts and resources to help you get it done

Get help from the U.S. Small Business Administration

The SBA plays an important role in helping individuals and businesses recover from disasters and has disaster recovery offices located strategically throughout the country.

I recommend: The SBA's Disaster Assistance Customer Service Center lists all disaster assistance center locations throughout the U.S.The disaster assistance FAQ section will answer most of your questions about who qualifies for loans, how to get the money, what it costs and what you can use it for in your business.

Get loans and other financial assistance for physical damage to your business

If your business incurred damage during a disaster, you can apply for a loan to help repair or replace damaged property to its pre-disaster condition.

I recommend: The SBA makes physical disaster loans of up to $1.5 million to qualified businesses.

Get money to cover 'economic injury' to your company

Small businesses and small agricultural cooperatives that have suffered substantial economic injury due to a physical disaster or an agricultural production disaster may be eligible for the SBA's Economic Injury Disaster Loan Program. Substantial economic injury is the inability of a business to meet its obligations as they mature and to pay its ordinary and necessary operating expenses.

I recommend: Check the details of Economic Injury Disaster Loans (EIDL) for small business.

Apply for SBA disaster loan assistance for your business

Small businesses can apply directly to the Small Business Administration for possible disaster assistance

I recommend: Download and print the necessary loan forms and instructions.

Arm yourself with other disaster response and preparation resources

Understanding how to prepare and recover from a disaster is important knowledge you should have access to.

I recommend: Ready Business is an excellent government-sponsored site with disaster preparation information. DisasterHelp.gov is a portal site for disaster assistance programs from the federal government. The Institute for Business & Home Safety has a very helpful site devoted to small business disaster protection with an excellent Getting Back to Business guide for small business following a disaster. CBS News Disaster Links lists hundreds of disaster-related Web sites.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you are in a declared disaster area and have suffered any disaster related damage you may be eligible for federal disaster assistance.
• •  Once you have returned your loan application, an SBA loss verifier will visit you to determine the extent of the damage and the reasonableness of the loan request.
• •  The SBA disaster relief program is not an immediate emergency relief program such as Red Cross assistance, temporary housing assistance, etc. It is a loan program to help you in your long-term rebuilding and repairing.
• •  Physical disaster loans can be used for repair or replacement of real property, machinery, equipment, fixtures, inventory and leasehold improvements may be included in the loan. In addition, disaster loans to repair or replace real property or leasehold improvements may be increased by as much as 20 percent to protect the damaged real property against possible future disasters of the same type.
• •  SBA loans will cover uninsured physical damage. If you are required to apply insurance proceeds to an outstanding mortgage on the damaged property, you can include the amount applied in your disaster loan.