ATLANTA – The U.S. Small Business Administration announced today the opening of a Business Recovery Center at the Asheville Buncombe Technical Community College on Thursday, Sept. 16 at noon to assist all businesses and residents with one-on-one assistance in submitting a disaster loan application for remnants of Tropical Storm Fred on Aug. 16-18, 2021.
Physical disaster loans are available to businesses of all sizes, nonprofit organizations, homeowners and renters in the primary counties of Buncombe, Haywood, and Transylvania counties in North Carolina. Economic Injury Disaster Loans 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.
The location of both Business Recovery Centers (BRC) are as indicated below:
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SBA Business Recovery Center Haywood County Haywood Community College Room 3021 Waynesville, NC 28786
Normal Hours: Monday – Friday, 9 a.m. – 6 p.m. Closed: Saturday and Sunday |
SBA Business Recovery Center Buncombe County Asheville Buncombe Technical Community College Suite 1054 Candler, NC 28715
Opens: Thursday, Sept. 16 from noon to 6 p.m. Normal Hours: Monday – Friday, 9 a.m. – 6 p.m. Saturday from 10 a.m. – 2 p.m. Closed: Sunday |
Customer Service Representatives will be available at the BRC to answer questions about the disaster loan program and assist business owners, homeowners and renters in completing their applications. 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 BRC are encouraged to wear a face mask.
Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. 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 sump pump, elevation, French drain or retaining wall to help protect property and occupants from future damage caused by a similar disaster.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
Disaster loans up to $200,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace disaster-damaged or destroyed personal property.
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 apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://DisasterLoanAssistance.sba.gov/ela/s/ and should apply under SBA declaration # 17155, not for the Covid 19 incident.
To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app. If 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.
Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing) or emailing DisasterCustomerService@sba.gov. Loan applications can also be downloaded at sba.gov/disaster. Completed applications should be 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.