2018 California Fires: Resources for Safety Preparedness and Financial Recovery

California has dealt with an onslaught of fires in the past few weeks. The Mendocino Complex Fire, Carr Fire, Ferguson Fire and Holy Fire are some of the largest that have been ravaging the state from North to South. While Cal Fire firefighters still work hard to contain these fires and affected homeowners plan their next steps, it is important to know about the available resources for financial and physical damage recovery.

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2018 NAWRB Conference: Knowing Your Partners — Financial Support and Legal Community

Following the “Freddie Mac Today” Panel at the 2018 NAWRB Conference, which offered valuable information on opportunities for homebuyers and businesses, the “Knowing Your Partners, Financial Support and Legal Community” Panel, including Sarah Goldfrank, Senior Vice President and Deputy General Counsel, Fannie Mae; Alexander Almazan, Attorney, Almazan Law; Mark Ferguson, Deputy District Director, Illinois District Office, the U.S. Small Business Administration (SBA); and Desiree Patno, CEO & President, NAWRB, continued to educate our audience about the power of knowing your customers, market and legal community for ensuring the success of their business.

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U.S. Small Business Administration Celebrates 65th Anniversary

Monday, July 30th, marked 65 years that the U.S. Small Business Administration (SBA) has been in service for millions of entrepreneurs and small businesses. Founded on July 30, 1953, the SBA has provided small businesses “with access to funding, mentoring, counseling, and when disaster strikes, support to recover and get back to business,” their press release states.

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SBA Disaster Loans for Hawaii Residents & Small Businesses—Deadline Fast Approaching

The state of Hawaii and the Federal Emergency Management Agency (FEMA) are operating a U.S. Small Business Administration (SBA) Disaster Recovery Center, opened on June 29th, to offer assistance to Kauai and Oahu residents that were affected by the flooding, mudslides and landslides that took place this April. FEMA has approved approximately $281,000 in individual assistance grant funding. Deadline to apply for individual physical damage assistance is August 27th, 2018, while impacted small businesses can apply until March 27, 2019.

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SBA Announces Joint Initiative with United Technologies Corporation

The U.S. Small Business Administration (SBA) released a statement by Administrator Linda McMahon about their new strategic joint initiative with United Technologies Corporation (UTC), a Connecticut-based company. UTC announced that it plans to hire 35,000 new employees, invest $15 billion in the United States over the next five years, and spend $75 billion for its U.S. suppliers, with $19 billion going to small businesses.

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Natural Disasters: Know the Resources

From the hurricanes that hit Texas, Florida and Puerto Rico, to the wildfires that consumed parts of California’s Wine Country, this year has been fraught with catastrophic natural disasters which have uprooted countless Americans from their stable lives. These disasters, also including tornadoes, hail storms, droughts, cyclones and floods, destroyed properties, businesses, communities, cities and United States territories;  left families and their pets without shelter, food, utilities and vulnerable to disease; and caused hundreds of deaths and casualties.

The National Oceanic and Atmospheric Administration (NOAA) reports that 15 weather and climate disasters in the U.S. have each caused over $1 billion in damages in 2017 alone. These events have resulted in the death of 282 people and have had consequential economic effects in the locations affected. As of October, the costs for the major hurricanes—Hurricanes Harvey, Irma and Maria—are still being calculated.  An article from USA Today, however, estimates that Hurricane Harvey will reach at least $190 billion in damages.

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Renters and Homeowners Eligible for SBA Disaster Loans

From the hurricanes that hit Texas, Florida and Puerto Rico, to the wildfires and mudslides that devastated parts of California, the past year has been fraught with catastrophic natural disasters which have uprooted countless Americans from their stable lives. All victims of declared natural disasters—businesses, private nonprofits, homeowners and renters—are able to apply for low-interest disaster loans from the U.S. Small Business Administration (SBA) to help them recover. Renters and homeowners do not have to own a business to apply.

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SBA Grants Puerto Rico $1 Billion in Disaster Loans

The U.S. Small Business Administration (SBA) announced today that is has approved over one billion U.S. dollars in low-interest disaster loans for over 28,000 Puerto Rico residents and businesses to help them recover from Hurricanes Irma and Maria. The deadline for filing for physical property damage is March 20, 2018. The deadline for economic injury loan applications is June 11, 2018 for Hurricane Irma, and June 20, 2018 for Hurricane Maria.

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SBA Grant Helps Houston Create 300 Small Businesses

The University of Houston has received a $2.3 million continuation grant from the U.S. Small Business Administration (SBA) to help them create 300 new small businesses in Houston, Texas. The recipients of the award—Bauer College’s Small Business Development Center—services around 10,000 businesses a year in 32 counties along the Gulf Coast.

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Free SBA HUBZone Webinars for Small Businesses

From February to mid-March, the U.S. Small Business Administration will offer small businesses a free six-part, webinar series to help them utilize its Historically Underutilized Business (HUB) Zone Program. Each webinar will include an hour of important tips on how businesses can grow their bottom line by making the most of their available resources.

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