Small-business owners face financial woes after floods

08/19/2010 | Google

Floods can be catastrophic for small businesses, as many have learned this year, and flood damage often isn't covered by standard insurance. One small-business owner affected by floods in Tennessee took out a Small Business Administration disaster loan, which requires him to buy flood insurance that he says was relatively inexpensive given his area. But an Iowa business owner flooded out for the fourth time says he's not planning on buying the insurance because premiums in the floodplain where he's located are too high.

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