*This is a U.S. Small Business Administration (SBA) notice. Brunswick County is not responsible for the accuracy of this information. For the latest information, please visit the SBA website or contact the SBA directly.
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SBA release date: October 18, 2024
WASHINGTON – North Carolina businesses and residents affected by the severe storms and flooding that occurred between September 16 and 20 are eligible to apply for low-interest disaster loans from the U.S. Small Business Administration, the SBA Administrator said. Isabel Casillas Guzman made the announcement today.
Administrator Guzman made the loan available in response to a letter from North Carolina Governor Roy Cooper on October 15 requesting a disaster declaration from the SBA. Businesses and residents in declared areas can now apply for low-interest disaster loans from the SBA.
The declaration includes Brunswick County and the neighboring North Carolina counties of Columbus, New Hanover, and Pender. and Holly, South Carolina.
“SBA is strongly committed to providing North Carolinians with the most effective and customer-focused response possible to assist businesses, homeowners, and renters of all sizes with federal disaster loans. ” Guzman said. “Getting businesses and communities up and running after a disaster is a top priority for the SBA.”
SBA will open a Disaster Loan Outreach Center (DLOC) to help businesses and residents complete disaster loan applications, receive documentation, and provide updates on application status. Walk-ins are accepted, but you can schedule an appointment in advance at the SBA Disaster Loan Outreach Center. The business hours of each center are as follows.
Brunswick County Disaster Loan Assistance Center (DLOC)
Location: Town Creek Community Building, 6420 Ocean Hwy E, Winnabow, NC 28479
Date: Saturday, October 19th, 11 a.m. to 2 p.m.
Business hours: Monday to Friday, 9am to 6pm
Wednesday, October 30th, 9 a.m. to 5 p.m.
Saturday, 10am to 2pm
Closed: Sunday, Tuesday, October 29th
Permanently closed: Friday, November 1st, 12:00 p.m.
New Hanover County Disaster Loan Assistance Center (DLOC)
Location: Carolina Beach City Hall, 1121 N Lake Park Blvd, Carolina Beach, NC 28428
Date: Monday, October 21st, 11 a.m. to 6 p.m.
Business hours: Monday to Friday, 9am to 6pm
Saturday, 10am to 2pm
Closed: Sunday
Permanently closed: Monday, October 28th, 4:00 p.m.
“When disaster strikes, our Disaster Financing Outreach Center is key to helping business owners and residents get back on their feet,” said Francisco Sanchez Jr., assistant administrator in the Small Business Administration’s Office of Disaster Recovery and Resilience. Ta. “At these centers, people can connect directly with our experts to apply for disaster loans and learn about all the programs available to rebuild and move forward on the recovery journey.”
Businesses and private nonprofit organizations can borrow up to $2 million to repair or replace real estate, machinery and equipment, inventory, and other business assets damaged or destroyed in a disaster.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations, the SBA provides Economic Injury Disaster Loans (EIDLs) to meet disaster-induced working capital needs. I am. EIDL assistance is available whether or not a business has sustained property damage.
Loans of up to $500,000 are available to homeowners to repair or replace damaged or destroyed properties. Homeowners and renters are eligible for loans of up to $100,000 to repair or replace damaged or destroyed personal property.
Applicants may be eligible for a loan amount increase of up to 20% of the bodily injury amount as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include safety chambers and storm screens, sump pumps, French drains and retaining walls to protect the property and occupants from future damage.
“SBA’s disaster loan program has the important benefit of an opportunity to incorporate measures that can reduce the risk of future damage,” Sanchez said. “Take advantage of the opportunity to work with contractors and mitigation experts to strengthen your assets and request additional SBA Disaster Loan funds for these proactive improvements.”
Interest rates are as low as 4% for businesses, 3.25% for nonprofits, and 2.813% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue and no monthly payments occur until 12 months after the first payment date. Loan amounts and loan terms are set by the SBA and are based on each applicant’s financial situation.
On October 15, 2024, it was announced that the Disaster Loan Program was fully disbursed. Although we cannot issue new loans until Congress appropriates additional funds, we remain committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses receive support when funding becomes available.
Applicants are encouraged to submit their loan application for review promptly in anticipation of future funding.
For more information and to apply online, visit sba.gov/disaster. Applicants may also contact SBA’s Customer Service Center by calling (800) 659-2955 or emailing Disastercustomerservice@sba.gov for information regarding SBA disaster assistance. If you are deaf, hard of hearing, or have a speech impairment, please dial 7-1-1 for telecommunications relay services.
The deadline for returning property damage claims is December 16, 2024. The deadline for returning economic injury claims is July 15, 2025.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps advance the American dream of business ownership. As the single go-to resource and voice for small businesses backed by the power of the federal government, the SBA helps entrepreneurs and small business owners start, grow, and expand their businesses, recover from a declared crisis, and more. We will provide you with the resources and support you need to do so. disaster. We provide services through an extensive network of SBA field offices and partnerships with public and private organizations. For more information, please visit www.sba.gov.
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