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Message
Lost a business. Need advice!
Posted on 8/17/16 at 7:23 pm
Posted on 8/17/16 at 7:23 pm
We bought our policy about 9 years ago so I don't remember all the details. I have(had) a business in denham. We lease the building we're in. I thought we were told we couldn't purchase flood insurance because we didn't own the building. Our landlord has flood insurance. But we bought every other insurance we knew to buy to cover contents, lost wages, ect. I've lost almost 250k in equipment and inventory and of course neither company wants to pay. What do yall suggest? TIA!
5
Posted on 8/17/16 at 7:30 pm to sherrifftaylor
File an uninsured business flood claim with FEMA.
Posted on 8/17/16 at 8:07 pm to LSURussian
Where do I go to do tha?. I've been to the disaster assistance site and it seems to be only for homes.
Posted on 8/17/16 at 8:33 pm to sherrifftaylor
I don't know. FEMA grants for uninsured businesses was mentioned in a news report this week. That's all I know about it.
Posted on 8/17/16 at 9:00 pm to LSURussian
FEMA does not give grants for business losses however you can apply for an SBA loan to replace equipmen, inventory,t and provide working capital while you restart operations.
LINK
LINK
Posted on 8/17/16 at 9:26 pm to sherrifftaylor
4% SBA loan, and you can get CDBG grants. I've been through it. Read my post on MB about real estate values post flood. I'll get you info on what we did up here. We organized and business ended up getting forgivable loans and grants. Long process, but we did it.
Posted on 8/17/16 at 9:28 pm to Iowa Golfer
Cdbg grants are but FEMA money and will require other action. Given growing issues here I can see congress approving this.
Posted on 8/17/16 at 9:41 pm to sherrifftaylor
Here is a link to the article which I was referring to which explains a little of the process for FEMA/SBA funds. It appears you start with FEMA and they will refer your request to the SBA if you're not eligible for FEMA funding.
LINK
LINK
Posted on 8/18/16 at 7:22 am to sherrifftaylor
Get me some generic contact information. I looked at some stuff we developed, and we had steam heat assistance, SBA interest loan grants, relocation grants, infrastructure grants. A lot of stuff. We developed it around housing, as this was one way to get businesses funded.
It will take some organization, political involvement, and it will take patience. You'll need to put together a group of guys that are action people. And it will be difficult becuase you'll have interaction with process people who are not necessarily results oriented.
When it happened to us, we flew to Fargo, North Dakota to talk to them about their flood, and also had assistance from some folks In New Orleans.
We'd like to help as much as we can. I'm speaking only for myself, but I'm pretty impressed with the spirit of your community down there.
It will take some organization, political involvement, and it will take patience. You'll need to put together a group of guys that are action people. And it will be difficult becuase you'll have interaction with process people who are not necessarily results oriented.
When it happened to us, we flew to Fargo, North Dakota to talk to them about their flood, and also had assistance from some folks In New Orleans.
We'd like to help as much as we can. I'm speaking only for myself, but I'm pretty impressed with the spirit of your community down there.
Posted on 8/18/16 at 9:26 am to sherrifftaylor
Sounds like you need an insurance lawyer to me
Posted on 8/18/16 at 11:11 am to sherrifftaylor
quote:who told you that?
I thought we were told we couldn't purchase flood insurance
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