North Carolina businesses and residents affected by severe storms and tornado on Jan. 9,
are eligible to apply for low-interest disaster loans from the U.S. Small Business Administration, SBA
Administrator Isabel Casillas Guzman announced today.
Administrator Guzman made the loans available in response to a letter from Governor Roy Cooper on
Jan. 30, requesting a disaster declaration by the SBA. Businesses and residents in the declared area can now
apply for low-interest disaster loans from the SBA. The declaration covers Catawba County and the adjacent
counties of Alexander, Burke, Caldwell, Iredell, and Lincoln in North Carolina.
“The SBA is strongly committed to providing the people of North Carolina with the most effective and
customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal
disaster loans,” said Guzman. “Getting businesses and communities up and running after a disaster is our
highest priority at SBA.”
To assist businesses and residents affected by the disaster, the SBA will open a Disaster Loan Outreach
Center (DLOC), in Catawba County, at 9 a.m. Monday, Feb. 5:
Customer Service Representatives will be available at the Center to answer questions about the disaster
loan program and help individuals complete their applications.
“Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disasterdamaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said
SBA’s North Carolina District Director Michael Arriola.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most
private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet
working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available
regardless of whether the business suffered any physical property damage.
Loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate.
Homeowners and renters are eligible for loans up to $100,000 to repair or replace damaged or destroyed
personal property.
Applicants may be eligible for a loan amount increase of up to 20 percent of their physical damages, as
verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or
storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from
future damage.
Interest rates are as low as 4% for businesses, 3.25% for nonprofit organizations, and 2.688% for
homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and monthly
payments are not due, until 12 months from the date of the initial disbursement. Loan amounts and terms
are set by the SBA and are based on each applicant’s financial condition.
Applicants may apply online and receive additional disaster assistance information at sba.gov/disaster.
Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email
disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are
deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay
services.
The filing deadline to return applications for physical property damage is April 1, 2024. The deadline to
return economic injury applications is Nov. 1, 2024.
Disaster Loan Outreach Center (DLOC)
Catawba County
Catawba County Emergency Services
100 Government Drive
Newton, NC 28658
Opening: Monday, Feb. 5, 9 a.m. to 6 p.m.
Hours: Mondy – Friday, 9 a.m. to 6 p.m.
Saturdays, 10 a.m. to 2 p.m.
Closed: Sundays
Permanently Closes: Monday, Feb. 19 at 4 p.m.
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