Homes weren’t the only thing damaged by Hurricane Irma. Businesses are also struggling to rebuild and reopen, and many small business owners are wondering what type of help is available to them.

  • Loans available to small businesses affected by Irma
  • Tree fell on Flowers from the Heart by Michelle
  • The owners lost all their fresh flowers when power went out

It’s a question Michelle Yzaguirre is seeking answers to. A tree in her neighbor’s yard fell on the back of her business, Flowers from the Heart By Michelle, in Winter Haven.

“My heart sank," Yzaguirre said. "My heart just sank and I couldn’t believe that something actually happened. I’ve been through hurricanes before and we never had any damage and we’ve never had anything significant like this. It was just a shock really.”

She and her husband just took over the business from her parents, who wanted to retire. They didn’t purchase insurance.

The tree fell on the shop’s storage room, where all of her supplies and vases were stored. Getting the tree removed was a challenge.

“We didn’t have money in the beginning to buy a chain saw or rent a chain saw, so we had to wait until a friend was able to get one and that wasn’t until yesterday to come help us,” Yzaguirre said.

The tree falling wasn’t the only devastating blow. When the power went out, Yzaguirre said she had to throw away all of her fresh flowers.

“We had to empty bucket after bucket of dead moldy flowers, and it was just heartbreaking to know that I just purchased some of those flowers,” she said.

She said that alone was thousands of dollars thrown away. With the power out all week, her four employees couldn’t come to work, and she couldn’t fill orders.

“Being closed for a week can be detrimental you know, as far as bills go, and getting things back on track,” said Yzaguirre. “It’s hard to catch up once you get behind.”

Yzaguirre is applying for the Small Business Administration’s Disaster Assistance loans, but she fears getting into even more debt considering how competitive her industry is.

“The summer had been really, really slow. So we didn’t need to have this setback,” Yzaguirre said.

Flowers from the Heart by Michelle is just one of the many small businesses dealing with this type of setback. According to FEMA, 40 percent of small businesses never reopen their doors after a disaster; Yzaguirre is determined not to be one of them.

She set up a GoFundMe page here.

This Gofundme.com site is not managed by Bay News 9/News 13. For more information on how the site works and the rules, visit http://www.gofundme.com/safety.

The Small Business Administration is offering physical damage and economic injury disaster loans to small businesses and non-profits affected by Hurricane Irma. The economic injury disaster loan is available regardless of whether the business suffered any physical property damage.

Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets, according to the Small Business Administration.  

The loan can also be used for improvements such as a safe room or storm shelter to help protect property and workers from future damage caused by a similar disaster. The purpose of the economic injury disaster loan is to meet working capital needs caused by the disaster and it’s available regardless of whether the business suffered any physical property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate.  Homeowners and renters are eligible for up to $40,000 to repair or replace disaster damaged or destroyed personal property.

According to the Small Business Administration, interest rates start at 3.305 percent for businesses and 2.5 percent for nonprofit organizations, and 1.75 percent for homeowners and renters with terms up to 30 years.  

Loan amounts and terms are set by the Small Business Administration and are based on each applicant’s financial condition.

The deadline to apply is Nov. 9, 2017 for the physical damage disaster loan and Jun. 11, 2018 for the economic injury disaster loan.

The Florida Small Business Development Center also offers three or six month, zero interest Florida Small Business Emergency Bridge loans to assist businesses while they wait for insurance money or other financing to become available, according to Mike Meidel with the Pinellas County Economic Development Department. It’s applicable to Florida businesses with two to 100 employees, and those that have been in business for at least a year prior to the storm. The loans range from $1,000 to $25,000.

A Business Recovery Center is opening in Clearwater on Sept. 18, at 9 a.m. for people who need help filling out the loan applications.

The customer service number is (800) 659-2955. For questions regarding the bridge loan, call (727) 453-7200. ​