A U.S. Small Business Administration Disaster Loan Outreach Center will open Friday at the Senior Center at 701 Jackson Street in Roanoke Rapids to help individuals complete their applications, answer questions about the disaster loan program and explain the application process. It will be open from 9 a.m. to 6 p.m. on weekdays through Thursday, Sept. 13, and 9 a.m. to 1 p.m. on Saturday, Sept. 8. The centers will be closed Sunday, Sept. 9.
Loans up to $200,000 are available through the SBA to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters also are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.
Businesses and non-profit organizations may borrow up to $2 million for physical damage. Working capital loans are also available to small businesses and most private non-profit organizations.
Interest rates are as low as 1.688 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Individuals and businesses unable to visit the center can apply via the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or apply online at https://disasterloan.sba.gov/ela/.
Storm victims in Halifax and Northampton Counties who do not qualify for a federal loan may be eligible for a state grant of up to a maximum of $31,400 to help pay for housing and other essential needs.
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