Deadline for SBA Loans for Uninsured Losses – Jan. 9

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Release date: Dec. 8, 2016
Release Number: 17-222, NC 14911/14912

The U.S. Small Business Administration (SBA) encourages homeowners and renters, businesses of all sizes, and private nonprofit organizations to apply for a disaster loan before the Jan. 9, 2017 deadline. Anyone in the declared counties in North Carolina with damages caused by Hurricane Matthew that occurred on Oct. 4 –24, 2016 should apply for the disaster recovery loan program.

The disaster declaration covers the counties of Anson, Beaufort, Bertie, Bladen, Brunswick, Camden, Carteret, Chatham, Chowan, Columbus, Craven, Cumberland, Currituck, Dare, Duplin, Edgecombe, Gates, Greene, Halifax, Harnett, Hertford, Hoke, Hyde, Johnston, Jones, Lee, Lenoir, Martin, Moore, Nash, Northampton, Onslow, Pasquotank, Pender, Perquimans, Pitt, Richmond, Robeson, Sampson, Scotland, Tyrrell, Wake, Washington, 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 and independent cities are eligible to apply only for SBA Economic Injury Disaster Loans: Alamance, Durham, Franklin, Granville, Montgomery, New Hanover, Orange, Pamlico, Randolph, Stanly, Union and Warren.

SBA disaster loans are available to cover uninsured losses from the disaster.  Interest rates are as low as 4 percent for businesses, 2.625 percent for private nonprofit organizations, and 1.563 percent for homeowners and renters.  Loan terms can be up to 30 years.

To be considered for all forms of disaster assistance, applicants should register online at www.DisasterAssistance.gov or download the FEMA mobile app.  If the 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.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov.

Loan applications can be downloaded from www.sba.gov/disaster.  Completed applications can be returned to a recovery center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to submit applications for physical property damage is Jan. 9, 2017. The deadline for economic injury applications is July 10, 2017.