ATLANTA – The U. S. Small Business Administration (SBA) announced today the Business Recovery Centers will be closed on Monday, Oct. 11 in observance of the Columbus Day holiday. The Centers will resume regular hours on Tuesday, Oct. 12. SBA established the Centers for businesses, homeowners, renters and nonprofit organizations to apply for low-interest disaster loans for damages caused by remnants of Tropical Storm Fred from Aug. 16-18, 2021 in any of the declared North Carolina counties.
The Centers are open as follows.
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SBA Business Recovery Center Haywood County Haywood Community College Room 3021 Waynesville, NC 28786
Hours: Monday – Friday, 9 a.m. – 6 p.m. Closed: Saturday and Sunday Closed: Monday, Oct. 11, in observance of Columbus Day
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SBA Business Recovery Center Buncombe County A-B Tech Enka Campus Suite 1054 Candler, NC 28715
Hours: Monday – Friday, 9 a.m. – 6 p.m. Closed: Saturday and Sunday Closed: Monday, Oct. 11, in observance of Columbus Day
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SBA Business Recovery Center Transylvania County Blue Ridge Community College – Brevard Campus Applied Technologies Building, Office #216 Brevard, NC 28712 Hours: Monday – Friday, 8 a.m. – 4:30 p.m. Closed: Saturday and Sunday Closed: Monday, Oct. 11, in observance of Columbus Day
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Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. All visitors to the BRCs are encouraged to wear a face mask. |
Businesses and residents may meet with SBA representatives one-on-one for answers to questions and help submitting loan applications. Residents are encouraged to submit their loan applications for physical damages even if they have not settled with their insurance company.
SBA disaster loans can cover the difference between an insurance settlement and what is needed to fully recover. If a survivor has not settled their insurance claim, SBA will consider making a loan for the total loss up to its loan limits. The insurance settlement will be used to reduce or repay the loan.
“Waiting to file an SBA application could cause unnecessary delays in receiving disaster assistance and survivors may miss the Nov. 8 application deadline for physical disaster loans. Submitting the loan application is an essential part of the disaster recovery process,” said Kem Fleming, director of SBA Field Operations Center East.
Physical disaster loans are available to businesses of all sizes, nonprofit organizations, homeowners and renters in the primary counties of Buncombe, Haywood, and Transylvania in North Carolina. Economic Injury Disaster Loans (EIDL) are available to small businesses and most nonprofit organizations in the primary counties and in the following adjacent counties: Henderson, Jackson, Madison, McDowell, Rutherford, Swain and Yancey in North Carolina; Greenville, Oconee and Pickens in South Carolina; and Cocke and Sevier in Tennessee.
“Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said SBA’s North Carolina District Director Mike Arriola.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers EIDLs to help meet working capital needs caused by the disaster. EIDL Loan assistance is available regardless of whether the business suffered any physical property damage.
“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Kem Fleming, director of SBA’s Field Operations Center East in Atlanta.
Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain, or retaining wall to help protect property and occupants from future damage caused by a similar disaster.
Interest rates are as low as 2.855 percent for businesses, 2 percent for nonprofit organizations and 1.563 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Applicants may also apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration #17155 before the filing deadline.
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 emailing DisasterCustomerService@sba.gov. Loan applications may be downloaded at sba.gov/disaster. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is Nov. 8, 2021. The deadline to return economic injury applications is June 8, 2022.
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About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit sba.gov.