News Flash

Indian Trail News

Posted on: July 15, 2019

Low-Interest Disaster Loans for June 6 Flooding and Wind Damage

  • Businesses and non-profits may borrow up to $2 million to repair or replace disaster-damaged/destroyed real estate, machinery, inventory, and other business assets.
  • Small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profits are eligible to apply for “Economic Injury Disaster Loans” to help meet working capital needs caused by the storms. regardless of whether or not they suffered physical damage.
  • Homeowners are eligible for loans of up to $200,000 to repair/replace damaged real estate. Homeowners and renters are eligible for loans up to $40,000 to repair/replace damaged or destroyed physical property.

Applicants may apply online using the “Electronic Loan Application” at DisasterLoan.SBA.gov, or call 1-800-659-2955.

In addition, the Office of North Carolina’s Ninth Congressional District (704-933-1148) can help answer general questions regarding these programs and connect constituents with appropriate resources.

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