SBA Disaster information from the North Carolina District Office

September 19, 2018
LeiLani Cooper

SBA will open a Business Recovery Center (BRC) tomorrow in Greenville, NC to assist business owners. Three documents are attached include the Presidential Fact Sheet and BRC location information.

Some of you may have already received this information.  I’m sending this to all our SBA partners as many people evacuated to places around the state. Also, many businesses are closed and/or do not have power.  Please refer

The disaster declaration covers Beaufort, Brunswick, Carteret, Craven, New Hanover, Onslow, Pamlico and Pender counties in North Carolina which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Bladen, Columbus, Duplin, Hyde, Jones, Lenoir, Martin, Pitt, Sampson and Washington in North Carolina; and Horry in South Carolina.

Here is some additional information:

North Carolina Disaster Assistance

North Carolina’s leading resources for small and midsize business are collaborating with partners to provide recovery assistance to NC businesses impacted by Hurricane Florence. Assistance includes help with developing recovery strategies as well as access to capital needed to support immediate cleanup costs and longer-term recovery from physical damage and economic losses. By accessing this website, you will have all available resources to assist in your disaster recovery.

SBA Home and Property Loans

After a disaster declaration has been made, SBA offers affordable financial help to homeowners and renters in declared disaster areas. You don’t need to own a business. Help is available in the form of low-interest, long-term loans for losses not fully covered by insurance or other means.

You may borrow up to $200,000 to repair or replace your primary home to its pre-disaster condition. But you can’t use the loan to upgrade or add on to the home, unless required by building authority or code.

In some cases, SBA may be able to refinance all or part of a previous mortgage (not to exceed $200,000) if you meet the conditions below:

  •    You can’t have credit available elsewhere (as SBA determines).
    •             Your must have substantially damaged property (as SBA determines).
    •             You intend to repair or replace the damaged property.

SBA considers refinancing when processing each application. They may also be able to increase the loan up to 20 percent of the confirmed physical losses (not to exceed $200,000). You could use the increase to make improvements that may help protect your home from future disasters. Examples of improvements include retaining walls, seawalls, sump pumps, safe rooms, and storm shelters.

Second homes or vacation properties are not eligible. Qualified rental properties may be eligible for assistance under the business disaster loan program.

You may be able to borrow up to $40,000 to replace damaged or destroyed personal property. This may include the following: clothing, furniture, appliances, cars, other personal property.

You may not use the loan to replace extremely expensive or irreplaceable items. This may include the items such as antiques, collections, pleasure boats, recreational vehicles.

General Program Requirements

To qualify for SBA disaster assistance, you must have physical damage to your primary home in a declared county.

Application Process:  If you’re a homeowner or renter, you must first apply with FEMA.  You may apply to FEMA online on DisasterAssistance.gov. If you want to apply by phone, please call the FEMA Helpline:

  • 1-800-621-FEMA (3362)
    •             711 or VRS 1-800-621-3362
    •             TTY 1-800-462-7585

To apply for an SBA disaster loan, you may apply online at any time using the SBA’s Disaster Loan Application. To get personal, one-on-one help from an SBA representative, you may also apply in person at one of the centers below:

  • FEMA Disaster Recovery Center (DRC)
    •             SBA Disaster Loan Outreach Center

To find a center near you, or for help to apply by mail, contact our Customer Service Center. If you prefer to mail your application to SBA, please use the following address: Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155.

SBA Business Disaster Loans

The SBA Express Bridge Loan Pilot Program (EBL)

The EBL loans can offer financial assistance and help eligible small businesses located in communities impacted by Presidentially-declared disasters while the small businesses apply for and await long-term financing including through SBA’s direct Disaster Loan Program, if eligible.

  • The maximum gross loan amount under the EBL Pilot Program is $25,000.
  • EBL loans can only be made by SBA Express Lenders. Eligible small businesses are those that were located, as of the date of the applicable disaster, in the Primary Counties that have been Presidentially-declared as disaster areas, plus any Contiguous Counties. The small business must have been operational when the declared disaster commenced, and must meet all other 7(a) loan eligibility requirements.
  • SBA Express Lenders may make loans under the EBL Pilot Program only to eligible small businesses that had an existing banking relationship with the SBA Express Lender.
  • The maximum maturity for an EBL loan is seven years. As the borrower, you may be required to pay down or pay off the EBL loan if you are approved for long-term disaster financing (including an SBA direct disaster loan) that allows proceeds to be used for EBL loan reimbursement.
  • EBL loans for a particular disaster must be approved within six months after the date of the applicable Presidential disaster declaration.
  • If you have an existing relationship with the lenders listed below, they may offer the SBA Express Bridge Loan program. We recommend contacting your SBA representative at the following lenders.

SBA EXPRESS LENDERS – EBL ELIGIBLE

American National Bank
Aquesta Bank
Bank of America
Bank of Oak Ridge
Bank Rhode Island
BankUnited
Blue Ridge Bank
BB&T
Byline Bank
Centric Bank
Coastal FCU
Corning FCU
CresCom Bank
Entegra Bank
Fifth Third Bank
First Bank
First Financial Bank
First National Bank of Pennsylvania
First State Bank Nebraska
First-Citizens Bank & Trust Company
Georgia Banking Company
Independence Bank
JPMorgan Chase Bank
Live Oak Banking Company
North State Bank
Pinnacle Bank
Platinum Bank
PNC Bank, National Association
Radius Bank
Regions Bank
Skyline National Bank
Southern Bank and Trust Company
Spirit of Texas Bank, SSB
SunTrust Bank
Surrey Bank & Trust
TD Bank
The Bancorp Bank
The Park National Bank
Truliant FCU
United Community Bank
Wells Fargo Bank

SBA Business Loans

SBA offers affordable financial help to businesses and private non-profit organizations in declared disaster areas. Help is available in the form of low-interest, long-term loans for losses not fully covered by insurance or other means.

SBA’s disaster loans are the main federal assistance offered for the repair and rebuilding of non-farm, private sector disaster losses. This is the only SBA direct loan program and it is not limited to small businesses.

Businesses of all sizes as well as private non-profit organizations may borrow up to $2 million to repair or replace:

  • Damaged or destroyed real estate
    •             Machinery and equipment
    •             Inventory and other business assets

In some cases, SBA may be able to refinance all or part of a prior mortgage or lien. They may also be able to increase the loan up to 20 percent of the confirmed physical losses. You could use the increase to make improvements that reduce the risk of damage by future disasters. Examples of improvements include retaining walls, seawalls, sump pumps, safe rooms, and storm shelters.

The SBA offers Economic Injury Disaster Loans (EIDL) up to $2 million to help meet working capital needs caused by the disaster. Any of the following may qualify for EIDL:

  • Small businesses
    •             Small agricultural cooperatives
    •             Small businesses engaged in aquaculture
    •             Most private non-profit organizations of all sizes

EIDL help is available whether the business had any physical property damage or not.  The statutory limit for business loans is $2 million. This applies to the combination of all funding paid to a business and its affiliates for each disaster.

General Program Requirements

To qualify, your business or private, non-profit organization must have physical damage or economic harm and be located in a declared county.

Application Process

If you’re a homeowner or renter and want to apply for SBA assistance, you must first apply with FEMA.  You may apply to FEMA online on  DisasterAssistance.gov.

If you want to apply by phone, you may call the FEMA Helpline:
•             1-800-621-FEMA (3362)
•             TTY 1-800-462-7585
•             711 or VRS 1-800-621-3362

To apply with SBA, you may apply online at any time using SBA’s Disaster Loan Application.  To get personal, one-on-one help from an SBA representative, you may also apply in person at one of the centers below:

  • FEMA Disaster Recovery Center (DRC)
    •             SBA Disaster Loan Outreach Center
    •             SBA Business Recovery Center

To find a center near you, or for help to apply by mail, contact our Customer Service Center at 800-659-2955. If you prefer to mail your application to SBA, please use the following address: Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155

Program Contact Information

If you have questions on how to apply with SBA or want to find an SBA disaster center near you, contact our Customer Service Center:

You may also visit the SBA Disaster Loan page to learn more at www.sba.gov/disaster.

Eileen Joyce
Lead Economic Development Specialist
North Carolina District Office
6302 Fairview Road #300
Charlotte, NC 28210
U.S. Small Business Administration
704-344-6787
eileen.joyce@sba.gov