BP reps offer filing assistance to island business owners
Recently, area business owners were invited to learn how to qualify for financial reimbursement from British Petroleum. Hosted by the Greater Pine Island Chamber of Commerce, late last month, representatives from BP as well as other state agencies, gathered at the Welcome Center to field concerns about lost revenue due to the Deepwater Horizon Oil Spill. Representing CFO Alex Sink of the Florida Department of Financial Services was Outreach Coordinator Terry Cerullo along with Tom Wiley, manager of the BP Claims office in Naples. According to Cerullo, he and Wiley agreed to come to Pine Island to offer their assistance.
“We realizes that business owners can’t afford to spend what could be an entire day to come to visit the claims office in Naples, so we agreed to come here,” said Cerullo. “We have been doing similar events throughout the area and would be happy to come back to the island if needed.”
Information was provided about what kind of documentation would be required to file a claim with BP as well as how to file online or by phone. Those who have suffered losses due to the oil spill will need to provide the claims office with tax records, wage loss statements, deposit slips, boat registrations and copies of a current fishing license.
According to Wiley, approximately 20 business owners came to the three hour event, however, the majority of those speaking with him at the Welcome Center were local fishermen.
“Most of the fishermen that came in weren’t so interested in filing a claim as wanting to know how they could help with the clean up efforts,” Wiley said. “Others were primarily those who have rental units. Some of them have had cancellations because of fear that the oil spill has affected this area. Unfortunately, the media has made it appear that we have three feet of oil on our beaches and even though we know this is not true, some businesses have suffered loses. Most of the other people that came in were on fact finding missions to find out what the process was for filing claims if they needed to.”
The fishermen attending the event were directed to a program called “vessels of opportunity” which enlists the aid of fishermen to help with the Gulf spill clean up efforts. More information about clean up programs can be found at gulfrecovery.gov
Working with the BP Claims office, Cerullo’s office is also assisting small business owners.
“We have put ourselves at the disposal of all small business owners and will help them by offering interest free loans,” said Cerullo. “With regard to filing claims, we are here to let them know what their rights are and how to file. My best advice is for those who are at risk is to stay diligent by keeping the appropriate paperwork together.”
In addition to claims filed with BP, small business owners may also apply for a “bridge loan” to help with any kind of down turn as a result of the oil spill.
“We are advising small business owners to prepare now by making a detailed inventory of property and contents as well as a detailed list of assets and the records to support it,” said Cerullo. “We also are suggesting they ask cancelling customers if they have decided not to visit the area or make investments because of the spill and to make sure all of their records are safeguarded.”
The bridge loans are available for businesses who employ fewer than 100 people, are interest free and can be between $1,000 and $25,000 to be paid back over a 12 month period. The bridge loans are intended to be a short-term loan to help “bridge the gap” between the oil spill and when other financial resource become available such as BP claims receipts.
For more information about bridge loans from Florida SBDC, visit floridaoilhelp.com