Disaster loans offered for people impacted by severe storms
DURHAM (WTVD) -- Residents and business owners affected by the July 16 storm can now apply for low-interest disaster loans offered by the U.S. Small Business Administration.
READ MORE: Fallen trees litter the streets as storms roll through
The SBA has set up a Disaster Loan Outreach Center at Fayetteville Street Elementary School in Durham. Representatives are providing information on the loans, with interest rates as low 1.625 percent for residents to as low as 4 percent for business owners. Those eligible can apply at the center. Those who don't qualify for a loan can apply for a grant through NC Emergency Management.
Jalil Belmouloud owns Francesca's Caffe on Ninth Street in Durham and is still dealing with the aftermath of the storm. Repairs are being made after water leaked through the buckled ceiling.
"There was a lot of lost merchandise," he said. "I unfortunately do pastries and ice cream and some sandwiches and things like that so all that stuff I had to replace. Also my employees did not work for a couple of days."
Belmouloud says he had to close for two and a half days and it's cost him an estimated $10,000. Belmouloud says he doesn't want to take out a loan but said it could be helpful to many small business owners.
"It may benefit people and I think it's a great initiative for people who are right there. If it weren't for that they may not be able to move on."
Representatives will be at Fayetteville Street Elementary School until August 4 providing information.
INFORMATION:
Durham County
Fayetteville Street Elementary School
2905 Fayetteville St.
Durham, NC 27707
Opening: Thursday, July 28 at noon
Hours: Weekdays from 10 a.m. to 7 p.m.; Saturday, July 30 from 10 a.m. to 2 p.m.
Closed: Sunday
Closing: Thursday, Aug. 4 at 4 p.m.
