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
“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:
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
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 firstname.lastname@example.org. 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.
For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov/disaster.