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Deadline to Apply for SBA Loans in North Carolina Coming Up

Written by kwmlaw on . Posted in Kelly & West News.

Oct. 9, 2012 is the deadline to apply for a loan from the Small Business Administration (SBA) for economic disaster as a result of the drought and excessive heat throughout 2011 in North Carolina. The loans are available to:

  • Small businesses
  • Small agricultural cooperatives
  • Small business engaged in aquaculture
  • Most private non-profit organizations of all sizes

Loans can range up to $2 million, interest rates of 3 percent, for private-non-profit organizations and $2 million, interest rates of 4 percent, for small businesses. Terms will be up to 30 years.

Loans will be awarded based upon the applicant’s:

  • Size
  • Type of activity it is engaged in
  • Financial resources

The money is provided by the SBA’s Economic Injury Disaster Loan program to eligible farm-related and non-farm related businesses that were hurt by the drought.

Small businesses from the following counties are eligible for the loans:

Alamance, Beaufort, Bertie, Brunswick, Bladen, Camden, Carteret, Caswell, Chatham, Chowan, Columbus, Craven, Cumberland, Dare, Davidson,  Duplin, Durham, Forsyth, Franklin, Gates, Granville, Greene, Guilford, Halifax, Harnett, Hertford, Hoke, Hyde, Johnston, Jones, Lee, Lenoir, Martin, Montgomery, Moore, Nash, New Hanover, Northampton, Onslow, Orange, Pamlico, Pasquotank, Pender, Perquimans, Person, Pitt, Randolph, Richmond, Robeson, Rockingham, Sampson, Scotland, Stokes, Tyrrell, Vance, Wake, Warren, Washington, Wayne and Wilson.

Source: Sacramento Bee

To speak with a North Carolina injury lawyer contact Kelly & West today.