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Disaster Press Releases

SBA’s Deadline for Physical Damage Disaster Loan Applications in North Carolina is June 7

ATLANTA – The U.S. Small Business Administration reminds homeowners, renters, businesses and non-profit organizations of the deadline to submit disaster loan applications for damage caused by severe storms and tornadoes that occurred on March 28, 2010. The deadline to file an application for physical damage is June 7, 2010.

Disaster victims that sustained physical damage in Davidson and Guilford counties and the adjacent counties of Alamance, Davie, Forsyth, Montgomery, Randolph, Rockingham, Rowan, Stanly and Stokes in North Carolina are eligible to apply.

The SBA offers loans up to $200,000 to repair or replace disaster damaged primary residences. Homeowners and renters are eligible for loans up to $40,000 to replace personal property such as furniture, appliances and clothing. Loans to businesses of all sizes and non-profit organizations are available up to $2 million to repair or replace disaster damage to real estate, machinery, inventory and equipment.

SBA Economic Injury Disaster Loans (EIDLs) are available to small businesses, and most private non-profit organizations of all sizes to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.

Interest rates are as low as 2.625 percent for homeowners, renters 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

To obtain a loan application or program information, call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech and hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m.; Saturday and Sunday from 9 a.m. to 5:30 p.m. EDT or send an e-mail to disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA Web site at www.sba.gov/services/disasterassistance. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155. Victims may apply for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/.

The filing deadline to return applications for physical property damage is June 7, 2010. The deadline to return economic injury applications is January 7, 2011.

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For more information about the SBA’s Disaster Loan Programs, visit our website at www.sba.gov/services/disasterassistance
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Release Number: 
10-391, NC 12112/12113
Release Date: 
Friday, May 7, 2010
Contact: 
Michael Lampton 404-331-0333
Related State: 
North Carolina
Field Operations Center: 
East