NC 13977 - SBA Offers Disaster Assistance to Residents of North Carolina Affected by Tornadoes, High Winds and Severe Storms

WASHINGTON – North Carolina residents and businesses affected by the tornadoes, high winds and severe storms on April 25 can apply for low-interest disaster loans from the U.S. Small Business Administration, SBA Administrator Maria Contreras-Sweet announced today.
Administrator Contreras-Sweet made the loans available in response to a letter from Gov. Pat McCrory on May 9, requesting a disaster declaration by the SBA.  The declaration covers Beaufort, Pasquotank and Perquimans counties, and the adjacent counties of Camden, Chowan, Craven, Gates, Hyde, Martin, Pamlico, Pitt and Washington 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 Contreras-Sweet.  “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 Centers are located in the following community and open as indicated:
Beaufort County                                                         
Beaufort County Health Department
1436 Highland Drive
Washington, NC  27889
Opens:  Friday, May 16 at 9 a.m.
Hours:  Friday - Thursday from 9 a.m. to 6 p.m.; Closed: Sunday
Closing:  Thursday, May 22 at the close of business
Pasquotank County                                                    
Pasquotank County Cooperative
Extension Office
1209 McPherson St.
Elizabeth City, NC 27909
Opens:  Friday, May 16 at 9 a.m.
Hours:  Friday - Thursday from 9 a.m. to 6 p.m.; Closed: Sundays
Closing:  Thursday, May 22 at the close of business
Perquimans County                                                    
ARPDC/Albemarle Comm. Bldg.
512 South Church Street
Hertford, NC  27944
Opens:  Friday, May 16 at 9 a.m.
Hours:  Friday - Thursday from 9 a.m. to 6 p.m.; Closed: Sundays
Closing:  Thursday, May 22 at the 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 SBA North Carolina District Director Lynn Douthett.
Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA, to make improvements that help prevent the risk of future property damage caused by a similar disaster.
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 2.188 percent for homeowners and renters, 2.625 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
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 Loan applications can also be downloaded at 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 July 14, 2014.  The deadline to return economic injury applications is February 16, 2015.
Release Number: 
Release Date: 
Friday, May 16, 2014 - 4:00am
Michael Lampton
Related State: 
North Carolina
Field Operations Center: