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in the storm, or set up shop in a temporary location with founder and CEO. "I got flooded and I need to rebuild
a mobile payment reader, we hope that our efforts can 60 percent of my restaurant. I'll need new floors, new
help impacted businesses get up and running quickly," restaurant equipment and a new POS system."
Bisignano stated.
She suggested paying $100 a day with a credit card until
Steven Feldshuh, President, Merchants' Choice Payment she got back on her feet, but Otar told her he didn't want
Solutions East recalled that when Hurricane Sandy hit the her to do that. He extended her terms and gave her a free
tri-state area, entire neighborhoods were washed away. POS system. "She was open and didn't hide and worked
"Many businesses in New York regained electricity within with us as she made all the repairs," he said. "She used
a week or two, but most went without Internet services FaceTime to show me the daily progress and rebuilding. If
for months," he said. "This required us to install wireless I didn't pick up, she'd text me pictures." Small and midsize
terminals, particularly in the financial district in lower business owners that carry business continuity insurance
Manhattan." can file a claim for disaster assistance, Capoccia noted.
"Business insurance is intended as a fallback option, but
Feldshuh's agents installed wireless terminals and offered not every upfront investment will protect a merchant or
extended terms to merchants who were short on cash. In bridge the gap by producing revenue so they can survive."
some cases, the processor delayed billing for POS devices
for up to a year as merchants recovered. "We also replaced Teel said business continuity insurance, such as added
dozens of landline terminals that got fried or soaked," he expense coverage, replaces revenue but is typically
added. "Delayed billing and free terminals helped our limited to financial assistance. "The insurance company
merchants stay up and running." will write a check, but experienced recovery specialists
can get a business up and running in hours versus days,"
Low-cost working capital he noted. "Business owners may also be eligible for low-
When a hurricane ravaged West Virginia, a Thai restaurant interest disaster loans offered by the Small Business
owner immediately notified Excel Capital Management Administration. The SBA noticed a higher-than-average
Inc., her merchant cash advance provider. The long-term default rate on these loans and is working directly with
Excel client had just moved to a larger location. "I have recovery specialists to ensure borrowers use funds
good news and bad news," she told Chad Otar, Excel efficiently."

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