SBA Disaster Assistance for NC Update
The U.S. Small Business Administration (SBA) announced on October 22 its plans to expand assistance to the disaster declaration in North Carolina for businesses and residents affected by Hurricane Florence on Sept. 7 – 29, 2018.
The disaster declaration covers the counties of Anson, Beaufort, Bladen, Brunswick, Carteret, Columbus, Craven, Cumberland, Duplin, Greene, Harnett, Hoke, Hyde, Johnston, Jones, Lee, Lenoir, Moore, New Hanover, Onslow, Orange, Pamlico, Pender, Pitt, Richmond, Robeson, Sampson, Scotland, Union, Wayne and Wilson in North Carolina which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury
Disaster Loans: Alamance, Cabarrus, Caswell, Chatham, Dare, Durham, Edgecombe, Franklin, Martin, Mecklenburg, Montgomery, Nash, Person, Randolph, Stanly, Tyrrell, Wake and Washington in North Carolina.
Businesses and private non profit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other businesses assets. For small business, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non profit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. This type of assistance is available whether the business suffered any physical property damage or not.
Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoan.sba.com
To be considered for all forms of disaster assistance, applicants should register online at
DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable,
applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video
Relay Services should call 800-621-3362.
The filing deadline to return applications for physical property damage is Nov. 13, 2018. The deadline to return economic injury applications is June 14, 2019. To learn more about the SBA disaster assistance programs, visit their website.
**Content taken from the SBA News Release 10/22/18**