Additional Disaster Recovery Resources for Hurricane-Affected Marine Businesses

In the continued aftermath of Hurricanes Milton and Helene, new resources and investment announcements aim to support disaster recovery for affected boaters and marine businesses. Updated state and federal program information for impacted businesses can be found below:

Federal Programs

Economic Development Administration (EDA) Revolving Loan Funds (RLF)

• The EDA provides support to manufacturing businesses through Revolving Loan Funds (RLFs) in disaster-affected areas. These funds offer low-interest loans to help businesses rebuild infrastructure and restart production. Local development organizations manage RLFs, and manufacturers can use the loans to repair facilities or replace equipment.
• The EDA also provides grants for technical assistance and economic recovery strategies that specifically target manufacturing operations in disaster-impacted regions.

Small Business Administration (SBA) Disaster Loans for Manufacturing Businesses

• Physical Disaster Loans: Manufacturing businesses of any size can apply for SBA loans to repair or replace damaged machinery, equipment, inventories, and real estate after a declared disaster.
• Injury Disaster Loans (EIDL): If a disaster has disrupted the ability to produce goods or meet customer demand, manufacturers can apply for low-interest loans to cover working capital needs, including operating expenses during downtime.

State Investments

Florida

• Gov. Ron DeSantis announced the award of $1M in funding from the Florida Disaster Fund to the Fish and Wildlife Foundation of Florida to support the rebuilding of fishing and aquaculture infrastructure damaged by Hurricanes Helene and Milton.
• Florida Fish and Wildlife Conservation Commission (FWC) offers 50% discounts on annual and five-year multisport fishing and hunting licenses for Floridians from October 25, 2024, through January 3, 2025.
• Discounted Lifetime Sportsman Licenses for Youth are available in Florida:
  • Ages 4 and younger: $200 (normally $400)
  • Ages 5 to 12: $350 (normally $700)
  • Ages 13 to 17: $500 (normally $1,000)

Impacted business can find additional recovery programs by state here: Florida, Georgia, North Carolina, South Carolina, Tennessee, Virginia

As states and federal agencies work to facilitate recovery, NMMA is committed to ensuring NMMA members receive the help they need to recover and rebuild. If you have been impacted by Hurricanes Helene or Milton, please reach out to our team via [email protected]