Over $2.6 Million Approved in SBA Disaster Loans for North Carolina Residents; Agency Urges Return of Applications

ATLANTA, Sept. 22, 2011 /PRNewswire-USNewswire/ -- The U. S. Small Business Administration has approved more than $2.6 million in Disaster Assistance Loans for residents and business owners in North Carolina affected by Hurricane Irene that occurred on Aug. 25 - Sept. 1, 2011.

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"Currently, 82 home and business disaster loans have been approved in the amount of $2,696,100 for affected victims," said Frank Skaggs, director of SBA's Field Operations Center East in Atlanta.  "We are pleased to be able to get these loans approved so residents and businesses in the disaster area can start to rebuild and resume their normal lives.  With the Oct. 31 deadline approaching, I encourage anyone who has not completed their disaster loan application to do so and return it as quickly as possible."

The SBA offers low interest disaster loans to disaster victims for physical losses up to its loan limits.  The agency can increase approved loans for protective measures to lessen similar future damages.  Additionally, small businesses and most private nonprofit organizations can obtain loans for unmet working capital needs.  To be considered for assistance from the SBA, those affected by the disaster need to apply by the deadline.

The disaster declaration covers counties of Beaufort, Bertie, Brunswick, Camden, Carteret, Chowan, Craven, Currituck, Dare, Duplin, Edgecombe, Gates, Greene, Halifax, Hertford, Hyde, Johnston, Jones, Lenoir, Martin, Nash, New Hanover, Northampton, Onslow, Pamlico, Pasquotank, Pender, Perquimans, Pitt, Tyrrell, Vance, Warren, Washington, Wayne and Wilson in North Carolina, which are eligible for Physical and Economic Injury Disaster Loans from the SBA.  

EIDLs are also available to small businesses, and most private non-profit organizations in the neighboring counties of Bladen, Columbus, Franklin, Granville, Harnett, Sampson and Wake in North Carolina; Horry County in South Carolina; and Brunswick, Greensville, Mecklenburg, Southampton and the Independent Cities of Chesapeake, Suffolk and Virginia Beach in Virginia.

To be considered for all forms of disaster assistance, those affected by the disaster must first call FEMA at 1-800-621-FEMA (3362) or 800-462-7585 (TTY) for the deaf and hard-of-hearing or register online at www.disasterassistance.gov.

The deadline to return SBA applications for physical property damage is October 31, 2011.   The deadline to return applications for economic injury is May 31, 2012.

For information about Disaster Recovery Centers, the SBA Disaster Loan Program, to apply online, or obtain business application forms visit www.sba.gov/services/disasterassistance, or call the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing).  Loan application forms can also be downloaded from www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

Those affected by the disaster may also apply for disaster loans electronically from SBA's website at https://disasterloan.sba.gov/ela/.

For more information about the SBA's Disaster Loan Programs, visit our website at www.sba.gov.

Contact: Michael Lampton
Phone:  404-331-0333

SOURCE U.S. Small Business Administration