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As weather forecasters are sending out warnings for a
more-active-than-average hurricane season for 2007, business owners also have to
keep in mind the dangers of floods, fires, tornadoes and other natural
disasters. As we discussed in the last edition of this series, the U.S. Small
Business Administration (SBA) has recommended that business, homeowners and
renters take precautions to be as prepared as they possibly can be when it comes
to natural disasters. In addition to the previously mentioned tips, here are
some more recommendations given by the SBA:
Copy important documents. Make copies of important records,
backing up data saved on computer hard drives, and storing that information at a
distant offsite location. Documents and CDs should be stored in fire-proof safe
deposit boxes.
Protect windows, doors and roofing. Installing
impact-resistant window and door systems, or simple plywood shutters installed
before the storm hits can enhance their ability to resist impacts from
wind-borne debris. Hire a professional to evaluate your roof to make sure it can
weather a major storm.
Have a Disaster Survival Kit. The kit should
include a flashlight, a portable radio, extra batteries, a first-aid kit,
non-perishable packaged and canned food, bottled water, a basic tool kit,
plastic bags, cash, and a throw-away camera to take pictures of the property
damage after the storm.
More preparedness tips for businesses, homeowners and renters are available
on the SBA’s Web site at www.sba.gov/disaster_recov/prepared/getready.html.
The Institute for Business and Home Safety (http://www.ibhs.org/ ) also has information on
protecting your home or business. The federal government’s preparedness Web
site, http://www.ready.gov/ is another
helpful resource.
The SBA makes low-interest loans to homeowners, renters and non-farm
businesses of all sizes following a disaster declaration by the President.
Homeowners may borrow up to $200,000 to repair or replace damaged real estate.
Individuals may borrow up to $40,000 to cover losses to personal property.
Non-farm businesses and non-profit organizations of any size may apply for up
to $1.5 million to repair or replace disaster damaged business assets and real
property. Small businesses that suffered economic losses as a direct result of
the declared disaster may apply for a working capital loan of up to $1.5
million, even if the property was not physically damaged.
To learn more about the SBA’s disaster assistance program, visit the Web site
at http://www.sba.gov/services/disasterassistance/index.html.
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