It is important to submit the SBA loan application

Survivors of Tropical Storm Fred in Buncombe, Haywood, and Transylvania counties applying for Federal Emergency Management Agency (FEMA) disaster assistance may be referred to the Federal Emergency Management Agency (FEMA). Small Business Development (SBA) with information on how to apply for a disaster loan. You must apply for a loan as soon as possible.

If your application is approved, you will not be required to accept the SBA loan, but if you do not apply, you may be ineligible for other possible forms of FEMA assistance.

For survivors, SBA disaster loans are the primary source of federal funds for disaster recovery. SBA offers low-interest, long-term disaster loans to businesses of all sizes, private nonprofit organizations, homeowners, and renters.

SBA disaster loans cover losses not fully covered by insurance or other resources. Survivors should not wait to settle insurance before submitting an SBA loan application. They might find that their insurance was insufficient for the deductible, labor, and materials needed to repair or replace your home.

You can apply for a loan online with the Electronic Loan Application (ELA) through SBA’s secure website at disasterloanassistance.sba.gov/ela/s/ or in person at an Emergency Recovery Center. Business. To request a paper application, call the SBA Customer Service Center at 800-659-2955 (800-877-8339 TTY) or email disastercustomerservice@sba.gov. There is no cost to apply for an SBA disaster loan.

SBA is operating two Business Recovery Centers, one in Haywood County and the other in Buncombe County.

• Haywood Community College Regional High-Tech Center, 112 Industrial Park Drive, Room 3021, Waynesville, NC 28786. Hours of operation are Monday through Friday, 9 am to 6 pm Closed Saturday and Sunday.
• AB Tech Enka, 1465 Sand Hill Road, Suite 1054, Candler, NC 28715. New hours are Monday through Friday, 9 am to 6 pm Closed Saturday and Sunday.
• Blue Ridge Community College, Brevard Campus, Applied Technologies Building, Room #216, 45 Oak Ridge Park Drive, Brevard, NC 28712. Hours are Monday through Friday, 8 am to 4:30 pm Closed Saturday and Sunday. (Open from September 28.)

Homeowners may be eligible for disaster loans in amounts up to $200,000 for structural repairs or reconstruction of their primary residence. SBA may also be able to help homeowners and renters with up to $40,000 to replace important personal property, including cars damaged or destroyed by the disaster.

SBA offers physical damage disaster loans in amounts up to $2 million to qualified businesses or private nonprofit organizations. Funds from these loans can be used for the repair or replacement of real property, machinery, equipment, fixtures, inventory, or improvements to leased properties. The deadline to submit applications for physical property damage is November 8, 2021.

Economic Injury Disaster Loans are offered to small businesses and most non-profit organizations in Buncombe, Haywood, Transylvania Counties, and the following adjacent counties: Henderson, Jackson, Madison, McDowell, Rutherford, Swain, and Yancey at North Carolina; Greenville, Oconee, and Pickens in South Carolina; and Cocke and Sevier in Tennessee. The deadline to submit Economic Injury Loan applications is June 8, 2022.