Mississippi SBDC rolls out post-hurricane help
to business owners on Gulf Coast

The Mississippi Small Business Development Center is working on ways to help businesses on the Gulf Coast that have been damaged by Hurricane Katrina.

The SBDC ordinarily helps entrepreneurs launch new businesses, but has switched gears in response to the storm in order to guide people through the process of applying for federal emergency loans.

“The Small Business Administration is the primary source for federal funds after a disaster,” said Mike Vanderlip, associate state director of The University of Mississippi Small Business Development Center. “If you have an uninsured loss in excess of $10,000, you are eligible for a low-interest, long-term SBA disaster loan.”

The first step for business owners is to determine their loss, figure out what insurance will cover, get a FEMA number and get an SBA number. “We need to go on and start moving into recovery,” he said.

Volunteers from around the country came to the devastated areas of the Gulf Coast to help process the thousands of loan requests.

“If you have a small business and you’ve got a question or you need help, call us,” Vanderlip said. The number is 800-725-7232.

“If you’ve got space on the coast or an RV that we could take down and use as a house and an office for these disaster teams that are coming in, please contact our office.”
The plan is to load up with computer equipment and a cell phone, and get as many loans as possible processed.

“We’ve sent teams in to Gautier and Collins. We also sent teams to Hattiesburg and McComb,” Vanderlip said.

Relief efforts began in September when Doug Gurley, the state director of the Mississippi Business Development Center, and Dr. Brian Reithel, dean of the business school, met with the board of directors of the national Association of Small Business Development Centers in Baltimore, Md. As a result of that meeting, the Association of Small Business Development Centers agreed to provide $150,000 as temporary funding to help Mississippi and Louisiana and agreed to recruit small business counselors to spend 12-day stints in Mississippi or Louisiana.

Gifts were also received from FedEx and Intuit to support this vital initiative.

Additionally, the Small Business Development Center has opened an emergency information center in its facility on the Ole Miss campus in Oxford. Staff members with disaster response expertise are available to provide information to small business owners impacted by Hurricane Katrina. For assistance, call 662-915-5001 or 800-725-7232 or e-mail msbdc@olemiss.edu.

For more information, visit www.olemiss.edu/depts/mssbdc or www.sba.gov.—Rebecca Lauck Cleary BF