Thursday - October 21, 2021
SBA Economic Injury Disaster Loans available in North Carolina
Written by Josh Zach   
Tuesday, 15 September 2015 12:27

RALEIGH, NC -- The U.S. Small Business Administration (SBA) announced on Tuesday that federal Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations located in North Carolina as a result of excessive heat and drought beginning on May 1.

This disaster declaration includes the following counties: Anson, Brunswick, Cleveland, Columbus, Gaston, Henderson, Mecklenburg, Polk, Richmond, Robeson, Rutherford, Scotland, Transylvania and Union in North Carolina.

Under this declaration, the SBA's Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster.  With the exception of aquaculture enterprises, SBA can not provide disaster loans to agricultural producers, farmers, or ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.

The loan amount can be up to $2 million with interest rates of 2.625 percent for private nonprofit organizations and 4 percent for small businesses, with terms up to 30 years.  The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.

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 sending an email to This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Loan applications can be downloaded from the SBA's website at www.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.

Completed loan applications must be returned to SBA no later than May 9, 2016.

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

 
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