Financial Help For Spill-Affected Businesses

In an effort to provide assistance to those individuals and businesses suffering economic losses due to the Deepwater Horizon oil spill, enclosed below are details on how to file a claim with British Petroleum (BP). Information is also included on how to apply for a low interest Economic Injury Loan from the U.S. Small Business Administration (SBA). This help for spill-affected businesses comes in response to requests to me and other Legislators from Northwest Florida employers and families.

As the responsible party of the spill, BP has repeatedly stated they will continue to provide assistance for economic damages. However, these loans through the SBA will create an additional tool to assist businesses through these difficult times, while working through the BP claims process.

In order to assist all individuals and businesses that may be affected due to economic losses, BP officials are requesting those who are or may be affected, to please contact their claims hotline at (800) 440-0858 or stop by a claims office to open an account.


Claims:

1)Are claims offices going to be established for individuals to come in a file a claim? Where will those locations be set up?

Yes, here are the locations and the anticipated opening dates in Northwest Florida:

Escambia County Open 8 am- 7 pm, 7 days a week

3960 W. Navy Blvd
Suite 16
Pensacola, FL 32507

Santa Rosa County OPENING May 14th

5668 Gulf Breeze Pkwy
Unit B-9
Gulf Breeze, FL 32563

Okaloosa County OPENING May 15th

348 SW Miracle Strip Pkwy
Suite 13
Ft. Walton Beach, FL 32548

Walton County OPENING May 16th

5008 US Hwy 98W
Unit 6&7
Santa Rosa Beach, FL 32459

2) Will there be more information on BP’s website to assist with filing a claim? Will an online claims form be provided on the company’s website?

BP officials are working towards providing more information on their website regarding the claims process including establishing an online claims form. However, if you are seeking to file a claim, officials ask that you contact their hotline at 1-800-440-0858.

3) It is difficult to get through via phone. Is BP going to set up more phone lines in order to allow more people to call into for filing claims?

Officials are currently seeking to add more phone lines to provide better service to those individuals seeking to file a claim.

4) What is the detailed process to file a claim?

All claimants need to contact BP’s hotline (1-800-440-0858) that is manned by the catastrophic loss division of ESIS specializing in oil spill claims.

5) Once filed, will payment from claims filed be provided continuously once the application is submitted? How long will the claims process take to acquire payment?

a. BP says payments will be made to address immediate issues associated with property damage or loss of income due to the oil spill.

b. BP believes that it is appropriate to provide interim payments to claimants who are not receiving ordinary income or project while the cleanup is underway.

c. Within 48 hours of receiving supporting documentation (e.g. tax return) the claim will be evaluated and the claimant will be notified of an advance payment for the claim.

d. The equivalent of 1 month’s income will be paid and these payments will continue until they are able to return to work or their overall claim is resolved.

e. BI claims can be handled via phone or in person. Bills will be paid or reimbursed.

f. If a claim is rejected the person will be notified in writing of non-payment.

g. Claims are currently being paid. To date, there are 768 claim accounts opened in Florida, and BP has paid $193, 899.98 towards these claims.



Economic Injury Loans through the U.S. Small Business Administration

A Disaster Loan Outreach Center will be open in Escambia County located at:

Small Business Development Center

401 E. Chase Street Suite 100

Pensacola, FL 32502

Office hours are from 8:00 am to 5:00 p.m., Monday through Saturday.



Economic Injury Loans Questions and Answers

If your small business or private, non-profit organization has suffered substantial economic injury, regardless of physical damage, and is located in a declared disaster area, you may be eligible for financial assistance from the U.S. Small Business Administration, Small businesses, small agricultural cooperatives and certain private, non-profit organizations of all sizes that have suffered substantial economic injury resulting from a physical disaster or an agricultural production disaster designated by the Secretary of Agriculture may be eligible for the SBA's Economic Injury Disaster Loan Program. Substantial economic injury is the inability of a business to meet its obligations as they mature and to pay its ordinary and necessary operating expenses.

An EIDL can help you meet necessary financial obligations that your business or private, non-profit organization could have met had the disaster not occurred. It provides relief from economic injury caused directly by the disaster and permits you to maintain a reasonable working capital position during the period affected by the disaster. The SBA provides EIDL assistance only to those businesses or private, non-profit organizations we determine are unable to obtain credit elsewhere. The SBA can provide up to $2.0 million in disaster assistance to a business. This loan cap includes both economic injury and physical damage assistance. Your loan amount will be based on your actual economic injury and financial needs. The interest rate on EIDLs cannot exceed 4 percent per year. The term of these loans cannot exceed 30 years. Your term will be determined by your ability to repay the loan.


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