• 43°

Federal loans available for flood damage starting today

Staff report
Residents of Cabarrus, Rowan and Stanly counties who had flood damage last week are eligible for low interest federal disaster loans.
Small Business Administration Acting Administrator Sandy K. Baruah announced the loans are available after a letter from Gov. Mike Easley requested a disaster declaration by the SBA.
The declaration covers Cabarrus and Mecklenburg and the adjacent counties of Gaston, Iredell, Lincoln, Rowan, Stanly and Union in North Carolina and Lancaster and York counties in South Carolina.
“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate,” said Frank Skaggs, director of SBA’s Disaster Field Operations Center in Atlanta.
Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. “The SBA’s customer service representatives will be on hand at the Disaster Loan Outreach Center to issue loan applications, answer questions about the SBA’s disaster loan program, explain the application process and help individuals complete their applications,” he said.
The Cabarrus County center is at the Old Cabarrus County Sheriff’s Office at 25 Corban Ave., Concord, and will be open starting today, from 8 a.m. to 5 p.m.
Regular hours will be Monday through Friday, 8 a.m. to 5 p.m.
Lee Cornelison, SBA’s North Carolina district director, said, “Low-interest federal disaster loans are available to homeowners, renters, businesses and nonprofit organizations of all sizes whose property was damaged or destroyed by the severe storms and flooding.”
Interest rates are as low as 2.875 percent for homeowners and renters, and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based upon each applicant’s financial condition.
You can also get information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), Monday through Friday from 8 a.m. to 9 p.m., Saturday and Sunday 9 a.m. to 6 p.m.
You can also e-mail requests to disastercustomerservice@sba.gov.

Comments

Comments closed.

Local

Bell Tower Green renamed to honor Stanbacks; Nancy Stanback receives key to city

Business

Commissioners green light additional houses at Cherry Treesort in China Grove

Education

A.L. Brown will hold in-person, outdoor graduation

Local

Granite Quarry awards FEMA contract for Granite Lake Park

Local

City to vote on apartment developments, final phases of Grants Creek Greenway project

High School

High school football: North receiver McArthur a rising star

Columnists

Carl Blankenship: Pollen and prejudice make their return

News

Harris pitches $2.3T spending plan on trip to North Carolina

Nation/World

Murder case against ex-cop in Floyd’s death goes to the jury

Crime

Sheriff’s office: Man takes deputies on chase with stolen moped

Coronavirus

Afternoon, evening COVID-19 vaccination clinic planned Thursday

Crime

Concord man charged with woman’s murder in drive-by shooting

Ask Us

Ask Us: Have city, county elected officials received COVID-19 vaccine?

Local

City gives away nearly 100 trees during ‘We Dig Salisbury’ event

Local

Political Notebook: Bitzer expects most ‘Trump-like’ candidate to be favorite in state’s Senate race

Crime

Blotter: Concord man arrested in Rowan for indecent liberties with children

Coronavirus

Half of US adults have received at least one COVID-19 shot

Nation/World

Police: FedEx shooter legally bought guns used in shooting

News

Hester Ford, oldest living American, dies at 115 … or 116?

Local

Size of pipeline spill again underestimated in North Carolina

BREAKING NEWS

Kannapolis Police searching for suspect who fled scene of homicide

Education

RSS superintendent talks district’s future, strategic plan survey

News

Complaints and fines pile up against unpermitted landfill in southwest Rowan County

College

Catawba baseball: Crowd comes out to say goodbye to Newman Park