Release Number: 10-03 NC
Contact: Mike Ernandes, Public Information Officer
704-344-6588
ASHEVILLE – The U.S. Small Business Administration announces it will hold two outreach events on March 24, 2010 to discuss the availability of low-interest disaster loans and counseling for businesses financially impacted by the October 25, 2009 Interstate 40 rock slide.
As a result of the November 24, 2009 disaster declaration, SBA began offering economic injury disaster loans (EIDLs) to help meet working capital needs caused by the disaster. Eligible entities may qualify for loans up to $2 million. Interest rates are 4 percent for businesses and small agricultural cooperatives and 3 percent for non-profit organizations; terms are up to 30 years.
These loans are available to small businesses, small agricultural cooperatives and most private non-profit organizations in Buncombe, Haywood, Henderson, Jackson, Madison, Swain, and Transylvania Counties in western North Carolina; and Cocke and Sevier Counties in eastern Tennessee. SBA determines eligibility for the loans based on the size and type of business and its financial resources. Additionally, the SBA sets the loan amounts and terms based on each applicant’s financial condition.
“The SBA remains committed to providing small businesses and non-profits in western North Carolina assistance to recover from the effects of the rock slide. That is why we gathered our SBA partners to create this special forum,” said Lynn Douthett, Acting District Director for the SBA’s North Carolina District Office in Charlotte.
Applicants can learn about the disaster loan program, ask questions, and set up appointments with counselors from the Small Business and Technology Development Center who can assist in preparing their loan applications.
The outreach events will take place at the following locations and times:
Buncombe County | Haywood County |
Asheville-Buncombe Tech Community College Simpson Lecture Hall -Thomas W. Simpson Bldg. Main Campus 340 Victoria Road Asheville, NC 28801 |
Clyde Town Hall 8437 Carolina Blvd. Clyde, NC 28721 |
Open: Wed., March 24 from 10 a.m. - 11:30 a.m. | Open Wed., March 24 from 2 p.m. - 3:30 p.m. |
“We encourage all businesses seeking working capital funds as a result of the disaster to attend this event and learn about SBA economic injury disaster loans (EIDLs),” said Director Frank Skaggs of SBA’s Disaster Field Operations Center in Atlanta. “EIDLS provide a unique opportunity for affected applicants to obtain disaster loan funds to keep the business operational.”
The filing deadline is August 24, 2010. Applications and program information are available by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), Monday through Friday from 8 a.m. to 6 p.m. EDT or by sending an e-mail to disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA Web site at www.sba.gov/services/disasterassistance. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155.
Victims may apply for disaster loans from SBA’s secure Web site at https://disasterloan.sba.gov/ela/.
Download the event flyer.
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