JN helps entrepreneur rise from ruins after Melissa

For more than two decades, Joan Palmer, an entrepreneur, operated Best Buy Gold Shop at 26 High Street in Black River, St Elizabeth, but now she has been forced to rebuild her livelihood literally from the ground up after Hurricane Melissa destroyed her business.

Palmer, who sold a variety of goods, including jewellery, small appliances and household items, chronicled the utter devastation. The operation’s glass storefront was shattered by the storm, leaving a pathway for floodwaters from the sea and river to surge through the store. The violent waters swept her stock out the door and soaked everything left behind, except for a few goods she had on the top floor of the establishment. She estimates the value of her loss to be several million dollars.

“I couldn’t even get there the next morning because debris and fallen trees blocked the roads. When I finally reached, everything from top to bottom was on the ground and wet,” Palmer recalled.

The storm forced her to close the location permanently, resulting in her three former employees being out of a job.

For Palmer, the loss was fourfold. Her rented home in Black River was also extensively damaged, resulting in the destruction of furniture and personal items valued at millions of dollars. The impact extended to her husband, Zepheniah, who operated a furniture business and her son, Damor, whose phone business was also located on High Street in Black River. Their losses were similarly significant. The combined effect of the damage compounded the challenges she faced in rebuilding her life and livelihood.

“It’s just Jesus I lean on for me to be in my right mind,” she said, reflecting on the emotional toll of the experience.

Determined to restart, Palmer pivoted her operations to Junction, St Elizabeth, approximately 25 miles from her original location, where her son was able to provide space for her and her husband to resume their businesses.

Palmer pointed out that the business is beginning to pick up at the new location.

“A lot of our customers from Black River found us because they have nowhere else to go to shop, except in Junction or Santa Cruz,” she said, adding that some of her suppliers in Kingston and Montego Bay donated supplies and provided goods on credit.

A long-standing client of JN Bank Small Business Loans for close to 25 years, Palmer turned to the institution for financial assistance to fast track her recovery.

“I had nobody else to turn to. JN supported me. I really feel good knowing they were there for me, as they have been over the years,” she said, adding that representatives from JN Bank Small Business Loans visited her former and new locations to check on her.

Palmer was one of many whose plight the organisation swiftly responded to, Jacqueline Jeffers, client relations manager at JNSBL outlined, noting that disasters often threaten the survival of small businesses.

“Whenever there is a disaster, business owners are frequently forced to suspend operations for extended periods as a result of damaged premises and equipment and loss of stock as in the case of Mrs Palmer. Some will also struggle to meet ongoing expenses, such as rent, utilities and salaries,” Jeffers explained.

“Our priority in these times is to help our clients get back on their feet as quickly as possible. In Palmer’s case, we restructured an existing short-term loan by extending the repayment period and increasing the value of the loan to enable her to restock the business. We further supported her recovery by providing a long-term loan for over two and a half years to help stabilise the business as it rebuilds.”

According to Jeffers, the financial assistance provides immediate relief for clients.

“Our role goes beyond lending. We see ourselves as partners to small business owners, especially when they are dealing with difficult and uncertain circumstances. Immediately after the hurricane, we visited our clients to provide guidance on available support options and identify practical solutions to help them begin the recovery process as quickly as possible.”

Although the losses were significant, Palmer related that her faith and the timely financial support helped her move forward.

“When I look back, I see how God provided right away. That’s what keeps me going,” she maintained.

Palmer encourages other entrepreneurs not to give up.

“There is hope. If you have a loan with a company, go in and talk with them. Don’t sit and say ‘I’m out of business’. Push your way,” she advised.