USA. North Carolina residents affected by recent tornadoes eligible for SBA disaster assistance

Monday, 20 November 2006

Steven C. Preston, Administrator of the U.S. Small Business Administration (SBA) announced that low-interest disaster loans will be made to North Carolina residents affected by the tornadoes that occurred November 15 - 17, 2006.

Administrator Preston took this action following a November 17 letter from North Carolina Governor Michael Easley requesting a disaster declaration by SBA. The declaration covers Columbus County and neighboring counties of Bladen, Brunswick, Pender and Robeson in the State of North Carolina and the contiguous counties of Dillon and Horry in the State of South Carolina.

"We look forward to working with North Carolina and the people affected by the tornadoes to make SBA disaster loans available to homeowners, renters and businesses," said Administrator Preston.

Frank Skaggs, Director of Disaster Field Operations Center East said, "Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property. SBA customer service representatives will be on hand at the following Disaster Loan Outreach Center to issue loan applications, answer questions about SBA's disaster loan program, explain the application process and help individuals complete their applications."

The Center will be located in the following community and will open as indicated:
Columbus County
Riegelwood Baptist Church
101 Cornwallis Road (at the intersection of Highway 87 and Cornwallis Road)
Riegelwood, NC  28456
Opens:  Saturday, Nov. 18; from 12 noon to 5 p.m.
Open:   Monday - Saturday; from 9 a.m. - to 5 p.m.
Closed:  Thursday, Nov. 23 for Thanksgiving
The Center will remain open Monday through Saturday from 9 a.m. to 5 p.m., until further notice.

Lee Cornelison SBA's North Carolina District Director stresses, "These low-interest Federal disaster loans are available to homeowners, renters, businesses of all sizes and private, non-profit organizations whose property was damaged or destroyed by the incident."

Businesses of any size and private non-profit organizations may borrow up to $1.5 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses only, 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 property damage.

Individuals and businesses unable to visit SBA in person may obtain information and loan applications by calling toll-free (800) 659-2955. Hearing impaired individuals may call (800) 877-8339.

The filing deadline to return applications for property damage is January 1, 2007. The deadline to return economic injury applications is August 8, 2007.

Last Updated ( Monday, 20 November 2006 )