Pender County businesses and residents may be eligible for SBA disaster assistance
PENDER COUNTY (WWAY) — The Pender County Office of Emergency Management announced today that the U.S. Small Business Administration has added Pender County to the disaster declaration in North Carolina affected by Hurricane Matthew that began Oct. 4.
“We’re in the recovery phase of this disaster,” said Tom Collins, Pender County Emergency Manager. “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.”
Collins said this includes Pender County’s small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and mores nonprofit organizations.
“The SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by Hurricane Matthew and the ensuing flooding along the Black River and Northeast Cape Fear River,” said Collins. “Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.”
According to the SBA, 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 up to $40,000 to repair or replace disaster damaged or destroyed personal property.
The SBA said interest rates are as low as 4 percent for businesses and 2.625 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.
”Eligible mitigation improvements may now include a ‘safe room’ or storm shelter to help protect property and occupants from future damage caused by hurricanes and flooding,” said Collins.
Filing deadline to return applications for physical property damage is Dec. 9. The deadline to return economic injury applications is July 10, 2017.
Pender County Emergency Management will post updates on the Facebook page at facebook.com/penderem and on the website www.penderem.com. If you need assistance call the EM office at 910- 259-1210.