Wisconsin Lawyer: Was your law practice interrupted by flood issues? SBA Office of Disaster Assistance low-interest loans available:

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    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.
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    Wisconsin LawyerWisconsin Lawyer
    Vol. 81, No. 7, July 2008

    Legal News & Trends

    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 gov disastercustomerservice sba email.




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