Category: SBA

November 7th, 2018 by newbernpostadmin

Here are some SBA numbers for the State and local area:

Statewide

• FEMA Referrals: 98,665

• Dollars Approved: $267,658,400

• Over 90 percent of approved loans were awarded to homeowners and renters

Carteret County

• FEMA Referrals: 7,809

• Dollars Approved: $29,090,400

Craven County

• FEMA Referrals : 8,543

• Dollars Approved: $46,745,800

Jones County

• FEMA Referrals: 1,361

• Dollars Approved: $11,476,300

Lenoir County

• FEMA Referrals: 982

• Dollars Approved: $1,732,100

Onslow County

• FEMA Referrals: 15,746

• Dollars Approved: $31,224,800

Pamlico County

• FEMA Referrals; 1,193

• Dollars Approved: $5,551,900

Here is the list of disaster recovery centers that are operating:

• Craven County

Old Rite-Aid Building

710 Degraffenreid Avenue

New Bern

Rue 21 Clothing Store

537 Hwy 70 West, Suite 103

Havelock

• Jones County

County Civic Center

794 Highway 58 South

Trenton

• Pamlico County

Grantsboro Town Hall

10628 NC Hwy 55E

Grantsboro

• The Small Business Administration (SBA) offers low-interest, long-term federal disaster loans for businesses of all sizes, non-profits, homeowners,  and renters. Those had property damage from Hurricane Florence and/or Michael should first register with FEMA. If referred to SBA by FEMA, it is important to complete a disaster loan application. Completing the disaster loan application is an important part of the disaster recovery process.

• Homeowners may apply for disaster loans up to $200,000 to repair damage to their primary residences. Homeowners and renters may apply for disaster loans up to $40,000 to repair or replace their personal belongings including the contents of their homes and cars. The interest rate for homeowners is as low as 2.0% with terms up to 30 years.

• Businesses may apply for disaster loans up to $2 million to repair or replace business assets such as buildings, inventory, and supplies. Businesses may also apply for working capital to help pay the bills they would have been able to pay if the hurricane had not happened.

• Do not wait on an insurance settlement before submitting a SBA loan application. Applicants can begin the recovery immediately with a low-interest SBA disaster loan. The loan balance will be reduced by your insurance settlement if you receive one. SBA loans may be available for disaster-related car repairs, clothing, household items and other expenses.

There are three ways to apply:

1 Online at disasterloan.sba.gov

2 In person at a disaster recovery center

3 By phone, 800-659-2955

Posted in Hurricane, New Bern, SBA

November 7th, 2018 by newbernpostadmin

The U.S. Small Business Administration (SBA) is encouraging those affected by Hurricane Florence from Sept. 8 through Oct. 8, 2018 in North Carolina to submit their completed applications, even if they have not settled with their insurance company.

“Waiting to file an SBA application could cause unnecessary delays in receiving disaster assistance, and survivors may miss the application deadline. Returning the loan application is an essential part of the disaster recovery process,” said Kem Fleming, director of SBA Field Operations Center East.

If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA will consider making a loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay their SBA loan.

Physical disaster loans are available to businesses of all sizes, non-profit organizations, homeowners and renters to repair or replace disaster-damaged property, including contents and automobiles. Economic Injury Disaster Loans are available for small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes having difficulties meeting operating expenses because of the disaster.

Interest rates are as low as 3.675 percent for businesses, 2.5 percent for non-profit organizations and 2 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 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.

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.

Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoan.sba.gov.

Additional details on the locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov. Completed applications should be returned to a center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. For more information about SBA recovery assistance, visit www.sba.gov.

The SBA has extended the deadline to apply for physical disaster damages in North Carolina. Businesses and individuals with physical damages caused by Hurricane Florence on Sept. 7 – 29, 2018, should apply for SBA low-interest disaster loans before the Dec. 13, 2018 deadline.

Posted in FEMA, Hurricane, New Bern, SBA

November 7th, 2018 by newbernpostadmin

The U.S. Small Business Administration (SBA) has extended the deadline to apply for physical disaster damages in North Carolina. Businesses and individuals with physical damages caused by Hurricane Florence on Sept. 7 – 29, 2018, should apply for SBA low-interest disaster loans before the Dec. 13,

The disaster declaration covers the North Carolina counties of Anson, Beaufort, Bladen, Brunswick, Carteret, Chatham, Columbus, Craven, Cumberland, Duplin, Durham, Greene, Guilford, Harnett, Hoke, Hyde, Johnston, Jones, Lee, Lenoir, Moore, New Hanover, Onslow, Orange, Pamlico, Pender, Pitt, Richmond, Robeson, Sampson, Scotland, Union, Wayne and Wilson; for economic injury only in the contiguous North Carolina counties of Alamance, Cabarrus, Caswell, Dare, Davidson, Edgecombe, Forsyth, Franklin, Granville, Martin, Mecklenburg, Montgomery, Nash, Person, Randolph, Rockingham, Stanly, Stokes, Tyrrell, Wake and Washington; and the contiguous South Carolina counties of Chesterfield, Dillon, Horry, Lancaster and Marlboro.

SBA disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters to cover uninsured losses from the disaster. Interest rates are as low as 3.675 percent for businesses, 2.5 percent for private nonprofit organizations, and 2.0 percent for homeowners and renters. Loan terms can be up to 30 years.

Economic injury disaster loans are also available to provide disaster related working capital to small businesses and most private nonprofit organizations. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoan.sba.gov.

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.

Additional details on the locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to disastercustomerservice@sba.gov.

The filing deadline to return applications for physical property damage is Dec. 13, 2018. The deadline to return economic injury applications is June 14, 2019.

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 www.sba.gov.

Posted in Craven County, Economy and Employment, FEMA, Housing, Hurricane, New Bern, SBA

November 7th, 2018 by newbernpostadmin

Survivors of Hurricane Florence who apply for disaster assistance from FEMA may be contacted by the U.S. Small Business Administration with information on how to apply for a disaster loan.

SBA offers low-interest disaster loans to businesses of all sizes, private nonprofit organizations, homeowners and renters. Next to insurance, SBA low-interest disaster loans are the primary source of funds for real estate property repairs and replacing contents destroyed during Hurricane Florence.

Homeowners may borrow up to $200,000 from SBA to repair or replace their primary residence. Homeowners and renters may borrow up to $40,000 to repair or replace personal property. Businesses may borrow up to $2 million for any combination of property damage or economic injury.

There’s no obligation to accept a disaster loan, but survivors may miss out on the largest source of federal disaster recovery funds if they don’t submit an application.

These disaster loans cover losses not fully compensated by insurance or other resources. Survivors should not wait for an insurance settlement before submitting an SBA loan application. They may discover they were underinsured for the labor and materials required to repair or replace their home. An SBA low-interest disaster loan can cover the gap.

If survivors have not settled with their insurance agency, SBA can make them a loan for the full amount of their losses. They can then use their insurance proceeds to reduce or pay off the SBA loan.

By law, both FEMA and SBA cannot duplicate benefits of other agencies or organizations.

If applicants don’t qualify for a loan, SBA will refer them back to FEMA and they could be considered for other FEMA grants under Other Needs Assistance.

Examples of Other Needs Assistance that do not depend on completing the SBA application include:

  • Disaster-related medical and dental expenses.
  • Disaster-related funeral and burial expenses.
  • Increased cost of child-care expenses.
  • Miscellaneous items, such as smoke detectors and weather radios.
  • Other serious disaster-related needs not covered by insurance or other sources.

Some types of ONA that do require an SBA loan application include:

  • Personal property replacement.
  • Moving and storage fees.
  • Financial help with disaster-caused vehicle repair or replacement expenses.

In planning their recovery, survivors should give themselves the widest possible set of options. Submitting the application makes it possible to be considered for additional grants, and if they qualify for a loan they will have that resource available if they choose to use it.

Information about low-interest SBA disaster loans, application forms, and where to get help with an application are available online at SBA.gov/disaster. Survivors may also call 800-659- 2955 or 800-877-8339 (TTY) or email DisasterCustomerService@sba.gov. Applicants may Apply Online for Disaster Loan Assistance, or at any disaster recovery center.

The centers serve as one-stop shops for survivors who need one-on-one help. Survivors can visit any center for assistance. To find center locations and current hours, download the FEMA mobile app in English, the FEMA mobile app in Spanish, the ReadyNC app, or visit FEMA.gov/DRC. SBA has staff at all centers to provide one-on-one assistance to homeowners, renters and businesses of all sizes.

You can watch an online video in American Sign Language that explains the Reasons to Apply for an SBA Loan.

For more information on North Carolina’s recovery from Hurricane Florence, visit ncdps.gov/Florence and FEMA.gov/Disaster/4393. Follow us on Twitter: @NCEmergency and @FEMARegion4.

Posted in FEMA, Hurricane, New Bern, SBA

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