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North Carolina Small Business Administration Declares Disaster
WASHINGTON, Sept. 25 /PRNewswire/ -- Steven C. Preston, Administrator of the U.S. Small Business Administration (SBA), today declared a disaster due to damage caused by Tropical Storm Ernesto that occurred on August 31, 2006. Administrator Preston took this action following a September 18, 2006 request from Governor Michael F. Easley. The declaration covers Duplin and Jones counties, and the neighboring counties of Carteret, Craven, Lenoir, Onslow, Pender, Sampson and Wayne in North Carolina. "We look forward to working with the state of North Carolina to make low- interest federal disaster loans available to homeowners, renters and small businesses," said Administrator Preston.
According to Frank Skaggs, Director of Disaster Field Operations Center - East, the SBA worked with state officials to survey damage in the area even before the governor's request. "Once we have identified local facilities in the declared counties, we will be able to provide one-on-one assistance to those affected by the disaster," Skaggs said. Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property. Businesses of any size and private non-profit organizations may borrow up to $1.5 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses only, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage. Individuals and businesses unable to visit SBA in person may obtain information and loan applications by calling toll-free (800) 659-2955. Hearing impaired individuals may call (800) 877-8339. The filing deadline to return applications for property damage is November 24, 2006. The deadline to return economic injury applications is June 25, 2007.
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