As Vermont marks the anniversary of last summer’s devastating floods, some small business owners are still grappling with the aftermath. In Barre, where water levels on the Jail and Steven Branch Rivers are currently low, David Ayer of Ayer Auto Body reflects on the catastrophic impact of the flood on his business last July. The flood caused a significant decline in revenue, leading to layoffs and the need for costly rebuilding.
Despite receiving assistance from the city, state, and federal government, Ayer was denied a Small Business Administration loan that could have helped him rehire staff and rebuild at a lower interest rate. Faced with challenges and mounting debt, Ayer made the difficult decision to retire and sell the business. Unfortunately, many businesses impacted by the flood shared similar struggles in accessing SBA loans due to strict repayment requirements.
In an effort to support businesses still working to recover, the Department of Economic Development has organized symposiums to provide advice and resources. Vermont Chief Recovery Officer Douglas Farnham emphasizes the importance of helping businesses rebuild to ensure community stability and wellbeing. The hope is that by supporting small businesses, the entire community will benefit.
At Ayer Auto, the team is focused on moving towards full recovery with the help of their community. Despite facing challenges in selling the business or property due to flood risk, Ayer remains grateful for the support and service of the Barre community. He hopes to eventually make back some of the losses incurred during the flood and retire in peace.