212013Jul

SBA Offers Disaster Assistance to North Carolina Residents

DISASTER NEWS

Loans for Homeowners, Renters and Businesses of All Sizes

SBA Disaster Assistance – Field Operations Center- East – 101 Marietta Street, NW, Suite 700, Atlanta, GA 30303

Release Date: July 17, 2013 Contact: Michael Lampton

Release Number: 13-636, NC 13663/13664 Email: Michael.Lampton@sba.gov

Phone: (404) 331-0333

SBA Offers Disaster Assistance to North Carolina Residents

Affected By Severe Storms and Flooding

WASHINGTON – North Carolina residents and businesses affected by severe storms and flooding on

June 30 can apply for low-interest disaster loans from the U.S. Small Business Administration, SBA

Administrator Karen G. Mills announced today.

Administrator Mills made the loans available in response to a letter from

Gov. Pat McCrory on July 11, requesting a disaster declaration by the SBA. The declaration covers

Orange County and the adjacent counties of Alamance, Caswell, Chatham, Durham and Person in

North Carolina.

“The SBA is strongly committed to providing the people of North Carolina with the most effective and

customer-focused response possible to assist homeowners, renters, and businesses of all sizes with

federal disaster loans,” said Administrator Mills. “Getting businesses and communities up and running

after a disaster is our highest priority at SBA.”

“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed

real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace

damaged or destroyed personal property,” said Frank Skaggs, director of SBA’s Field Operations

Center East in Atlanta. SBA’s customer service representatives are available at the Disaster

Loan Outreach Center to answer questions about the disaster loan program and help individuals

complete their applications.

The Center is located in the following community and is open as indicated:

Orange County

University Mall North Carolina

201 S. Estes Drive, Suite A10

Chapel Hill, NC 27514

Hours: Monday, July 22 – Thursday, July 25 from 9 a.m. to 6 p.m.

Closing: Thursday, July 25 at close of business

-more“

Businesses and non-profit organizations of any size may borrow up to $2 million to repair or

replace damaged or destroyed real estate, machinery and equipment, inventory, and other

business assets,” said Lynn Douthett, SBA’s North Carolina district director.

The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real

estate and/or leasehold improvements, as verified by SBA, to make upgrades that lessen the risk

of property damage by similar future disasters.

For small businesses, small agricultural cooperatives, small aquaculture businesses and most

private non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans

(EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available

regardless of whether the business suffered any physical property damage.

Interest rates are as low as 1.875 percent for homeowners and renters, 2.875 percent for

non-profit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts

and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure

website at https://disasterloan.sba.gov/ela/.

Individuals and businesses unable to visit the center may also obtain information and loan

applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339

for the deaf and hard-of-hearing), or by emailing disastercustomerservice@sba.gov. Loan

applications can also be downloaded at http://www.sba.gov/. Completed applications should be

returned to the center or mailed to: U.S. Small Business Administration, Processing and

Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return applications for physical property damage is September 13, 2013. The

deadline to return economic injury applications is April 15, 2014.

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For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov/disaster.