If your law office or your client's office was wiped out or affected from the recent floods, your insurance agent and whoever holds your mortgage still expect to be paid. When you have a business interruption the bills don't stop.
Wisconsin
Lawyer
Vol. 81, No. 7, July
2008
Was your law practice interrupted by flood issues? SBA Office of
Disaster Assistance low-interest loans available
If your law office or your client's office was wiped out or affected
from the recent floods, your insurance agent and whoever holds your
mortgage
still expect to be paid. When you have a business interruption the bills
don't stop.
The U.S. Small Business Administration (SBA) Office of Disaster
Assistance offers long-term low-interest loans to businesses,
homeowners, renters, and nonprofit organizations that were affected by
the recent flooding in Wisconsin. Funds are available directly from the
U.S. Treasury
for uncompensated losses of physical and economic injury.
Physical disaster loans are for permanent rebuilding and
replacement of uninsured or underinsured disaster damages
to privately-owned real and/or personal property.
Economic injury disaster loans provide necessary working
capital until normal operations resume after a
physical disaster. The law restricts economic injury disaster loans
to small businesses only.
The SBA is an independent agency of the federal government set
up to aid, counsel, assist, and protect the interests of small business
concerns, preserve free competitive enterprise, and maintain and
strengthen our nation's overall economy.
For more information, including frequently asked questions,
visit www.sba.gov/floods, call
(800) 659-2955, or
email.
Wisconsin
Lawyer
