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Disaster loan center opens for August 5 flood victims
FOR IMMEDIATE RELEASE
Tuesday, August 23, 2011

Contact: Richard Daigle
Small Business Administration
404-895-7345   
 
CHARLOTTE, NC – Local residents affected by flash flooding on Aug. 5, 2011 can begin applying for low-interest disaster assistance loans starting today.
 
The U.S. Small Business Administration (SBA) will meet with homeowners, renters, businesses of all sizes and nonprofit organizations to determine eligibility for federal disaster loans. In response to a request from North Carolina Gov. Beverly Perdue, the SBA issued a flood-related disaster declaration covering Mecklenburg, Cabarrus, Gaston, Iredell, Lincoln and Union counties of North Carolina and Lancaster and York counties in South Carolina.
 
Mecklenburg County Disaster Loan Outreach Center
Hal Marshall Services Center, 2nd Floor
700 N. Tryon Street
Charlotte, NC 28202

Opening: Tuesday, Aug. 23, 2011
Hours: 10 a.m. to 6 p.m.
Remaining open: daily from Tuesday, Aug. 23 - Thursday, Sept. 1, 2011
Closed: Sunday, Aug. 28, 2011
Last day: Thursday, Sept. 1, 2011, closing at 6 p.m.
 
SBA customer service representatives will be at the temporary office in Charlotte for nine days to answer questions about the disaster loan program, explain the process, and help individuals complete their applications.
 
Types of loans
Home disaster loans: up to $200,000 for damaged structures. Homeowners and renters can borrow up to $40,000 for damaged personal property including vehicles. Interest rates are as low as 2.5 percent.
 
Business and eligible nonprofit organization disaster loans: up to $2 million for damaged structures and contents with additional loan money for qualifying improvements that lessen the risk of future flood damage. Interest rates are as low as 3 percent for nonprofit organizations and 4 percent for businesses.
 
Economic injury disaster loans: working capital needs for businesses and nonprofits affected by the flood.
 
Loans will be made for eligible losses not covered by insurance or other compensation. Loan amounts and terms are set by the SBA and are based on each applicant’s eligibility and financial situation.
 
Those unable to visit the Disaster Loan Outreach Center in person may contact the SBA:
1-800-659-2955 (Monday through Friday from 8 a.m. to 6 p.m.) or
1-800-877-8339 for deaf or hard of hearing (Monday through Friday from 8 a.m. to 6 p.m.) or
email: disastercustomerservice@sba.gov
website to download loan applications: https://disasterloan.sba.gov/ela/
 
Deadlines for filing loan applications:
                Property damage: October 18, 2011
                Economic injury: May 19, 2012