Raul Anaya, Bank of America President, Business Banking, and President, Greater Los Angeles.

On July 7, it will be six months since the fires broke out in Los Angeles. Back in January, I (along with many others) observed in despair as our communities endured unimaginable devastation. I’m a 20-year Angeleno, and at Bank of America, I serve as President of Business Banking and President of Greater Los Angeles, so this was personal. I have friends, neighbors and colleagues whose lives were permanently altered. And like many businesses, Bank of America experienced disruption due to the fires, including the complete loss of two financial centers in Altadena and the Pacific Palisades.

In addition to dealing with our own losses, we felt a responsibility to support our community and its broader recovery efforts. Government agencies and nonprofit organizations play crucial roles in the immediate aftermath of natural disasters, but recovery also hinges on the active participation of the business community. When businesses use their entrepreneurial skills, collaborate effectively and contribute resources, they can greatly help communities heal. Here is what we've learned from responding to the aftermath of the LA fires and other natural disasters nationwide—and how businesses can contribute to a community’s resilience.

Prioritize Immediate Needs

In the wake of a natural disaster, quick and decisive action to meet people’s immediate needs is crucial. Aid can include donating funds to reputable organizations. For example, Bank of America granted $1 million to the American Red Cross and $500,000 to the LA Regional Food Bank to help victims access food, water and shelter.

Beyond that, businesses can organize companywide food drives, volunteer as teams at local shelters or partner with others to maximize their collective impact. Here in Los Angeles, public-private partnerships such as LA Rises committed millions of dollars to response efforts in the days after the January fires.

Equally important is fast and clear communication with customers and employees. People are struggling and stressed, and it is important that messaging makes their lives easier and resources are readily accessible.

Transition From Relief To Recovery

When people lose their homes and businesses to natural disasters, they are thrust into the overwhelming process of navigating insurance claims, understanding disaster relief programs and making choices about rebuilding, relocation and financial recovery. These are not decisions they should make in haste.

This is another moment when the business community can help. Working across all sectors—public, private, nonprofit, faith-based, academia and grassroots community-building—is imperative to moving from triage solutions to long-term recovery. We have had operations in LA for over 110 years, so we’re able to help our clients connect with community groups, civic and faith leaders and other private-sector entities that provide valuable resources and guidance.

As a financial institution, we also understood that we could help people get back on their feet by providing access to capital that would alleviate financial pressures. To help small businesses impacted by the fires, we provided seed capital to the Greater LA Area Chamber of Commerce to launch their first-ever small business disaster relief fund, which provides small grants, equity-based financing and access to our network of Community Development Financial Institutions.

Employees are another top priority. Once they have overcome the initial shock and devastation, they can consider how to proceed into the future. We immediately provided temporary housing to our impacted employees. As days and weeks turned into months, we provided our LA employees with access to insurance and construction experts, arming them with the knowledge to make complex decisions during a high-stress time.

Transcend The Obvious

By applying existing skills and resources to new challenges, the private sector can make significant, unique contributions. For example, a logistics company known for efficient supply chains might optimize the distribution of donated goods, while a technology firm might use its data analytics expertise to target aid distribution.

In the aftermath of a natural disaster, banks traditionally offer grants, loans and forbearance options for customers. But given our vast expertise and deep LA connections, we soon realized that, as a company, we could bring other important elements to the table.

In April, we invited a dozen small businesses impacted by the fires to showcase their products during the highly anticipated U.S. Women’s National Soccer Team match against Brazil at SoFi Stadium. They shared their stories and products with tens of thousands of fans in attendance, and we also covered the costs of televised marketing and in-stadium halftime promotions to help boost business.

Natural disasters are a stark reminder of our shared vulnerability. While the public sector and elected officials may be the face of recovery and rebuilding efforts, they cannot do it alone. Business leaders across all sectors should think about collective impact and what they can bring to the table. I have spent my entire career working with the business community, and I believe it will be critical in LA’s next great chapter.

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