Wednesday, September 2, 2009

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Aug. 12 flood victims can request disaster loans (Kinston Free Press)

Posted: 01 Sep 2009 09:11 PM PDT

HAVELOCK — The U.S. Small Business Administration is making low-interest disaster loans available to area residents and business owners who sustained damage from the Aug. 12 flood.

A disaster loan outreach center will be set up at the Havelock Tourist and Event Center to issue loan applications, answer questions and explain the application process.

Hours will be from 8 a.m. to 4 p.m. Thursday and Friday and from 9 a.m. to 1 p.m. Saturday. The center will be closed for Labor Day but will operate from 8 a.m. to 4 p.m. Tuesday through Sept. 10.

More than 50 homes and businesses in Havelock had damage from the Aug. 12 storms, which dumped nearly 10 inches of rain on the city in about five hours. Parts of Brown Boulevard, McCotter Boulevard and Pineview Street were among the most flooded areas, but anyone in the area who had flood damage is eligible to apply.

No citywide damage estimate has been figured, but officials estimate the flooding caused at least tens of thousands of dollars in damage.

Gov. Beverly Perdue requested a disaster declaration from the SBA on Aug. 25. The declaration covers Craven, Carteret, Pamlico, Jones, Lenoir, Pitt and Beaufort counties.

Loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate, while homeowners and renters will be eligible for up to $40,000 in loans to repair or replace damaged or destroyed personal property.

Businesses and nonprofit organizations can borrow up to $2 million to repair or replace damaged real estate, machinery, equipment, inventory and other assets.

Money for mitigation, based on 20 percent of verified damage, to help residents take measures to minimize any potential future damage is also available.

Interest rates on the loans are as low as 2.750 percent for homeowners and renters and 4 percent for business owners, with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant's financial situation.

The filing deadline to return applications for physical property damage is Oct. 30. The deadline to return economic injury applications is May 31.

Those unable to get to the Havelock Tourist and Event Center can also call the SBA at 1-800-659-2955 from 8 a.m. to 6 p.m. Monday through Friday. Online, residents can apply at https://disasterloan.sba.gov/ela. E-mails can be sent to disastercustomerservice@sba.gov. Business loan appplications can be downloaded at http://www.sba.gov/services/disasterassistance.

Completed applications can be returned to the tourist center by Sept. 10 or mailed to the U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.



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