How are Gulf Coast businesses to survive the oil spill?
The massive BP oil spill has caused widespread economic harm to Gulf Coast businesses, including companies in Texas, Louisiana, Mississippi, Alabama and Florida. Many small businesses are experiencing unforeseen financial losses during what should be the busiest months of the year. With no end in sight to the oil spill, some business owners understandably fear for the survival of their businesses.
Gulf Coast businesses suffering financial losses since the April 20 Deepwater Horizon explosion may receive economic injury disaster loans from the Small Business Administration. The low interest loans of up to $2 million may be used by small businesses to pay fixed debts, payroll, accounts payable and other debts that can’t be timely repaid because of the impact of the oil spill. Our team of financial consultants, investigators and lawyers can advise you on the short and long-term needs of your business.
Small business also can file a claim to recover economic losses from BP. Under the Oil Pollution Act of 1990, the responsible party is liable for economic losses, damages and injury caused by the spill. BP is paying claims and making emergency payments, but most of the amounts being paid are small—less than $5,000 per check. An oil spill accident attorney at Arnold & Itkin LLP will evaluate your situation and guide you on the best course to proceed to help your business survive.
The unprecedented harm of the BP spill will continue to affect property, businesses and the environment for years to come. The Oil Spill Task Force, sponsored by Arnold & Itkin LLP, coordinates the financial, legal and investigative resources needed to represent the claims of businesses and individuals whose livelihoods and property are threatened by the BP oil spill.
If you would like to discuss your complaint, then please call 888-498-8212 or use our convenient online form. We focus on representing your financial interests in claims against BP.
At Arnold & Itkin, we are experienced trial lawyers and aggressive advocates for our clients. Our attorneys quickly assess the strengths and weaknesses of each individual case and map out a strategy for winning. Our law firm secured over $100 million in verdicts or settlements for our clients in 2009. Once you meet the legal team at Arnold & Itkin LLP, you will understand why H Texas magazine in Houston named Arnold & Itkin LLP "Top Lawyers for the People" three years in a row and why Texas Monthly has consistently recognized our attorneys as “Rising Stars.”
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