SBA loans available
By Staff Reports
Published in News on June 19, 2017 7:36 AM
Small Business Administration loans are available for businesses and homeowners whose properties were damaged during by the straight line winds and severe storms that struck Sampson County on May 29.
Residents in adjacent counties -- Wayne, Duplin, Bladen, Cumberland, Harnett, Johnston and Pender -- who suffered storm damages also can apply for the loans.
There were no reports of any damages associated with that storm in Wayne County, said Mel Powers, Wayne County Office of Emergency Services director.
Gov. Roy Cooper Thursday announced that he has received the U.S. Small Business Administration disaster declaration he requested to help residents and business owners in southeastern North Carolina recover from the storm.
Interest rates are as low as 3.215 percent for businesses, 2.5 percent for nonprofit organizations, and 1.938 percent for homeowners and renters with terms up to 30 years.
Loan amount and terms are set by the SBA and are based on each applicant's financial condition.
North Carolina Emergency Management and SBA's customer service representatives will staff a Disaster Loan Outreach Center beginning today to answer questions about the disaster loan program and help individuals complete their applications.
The center will be open in the Sampson County Exposition Center, 414 Warsaw Road, Clinton.
The help center will be open today from 10 a.m. until 5 p.m., then again Saturday from 9 a.m. until 1 p.m.
It will be closed Sunday, June 18, but will be open from 8 a.m. to 5 p.m. Monday through Wednesday, June 19-21.
The final day will be from 8 a.m. to 3 p.m. Thursday, June 22.
Homeowners and business owners can apply to the SBA for low-interest federal loans of up to $200,000 to help them 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.
Storm survivors who do not qualify for the loans may be eligible for smaller state grants to help them replace essential belongings.
It was the second time in a week that severe storms impacted the county.
The level of damage did not meet the threshold for financial assistance from the Federal Emergency Management Agency.
Application may be made online using the Electronic Loan Application via SBA's secure website at https://disasterloan.sba.gov/ela.
Loan information and applications also may be obtained 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 [email protected].