Local News

Loans available for Sandy victims on NC coast

Posted November 9, 2012

— The U.S. Small Business Administration is providing low-interest loans to victims of Hurricane Sandy in North Carolina, officials said Friday.

The loans are available to homeowners and businesses in Dare, Currituck, Hyde and Tyrrell counties who suffered property damage from the storm.

An SBA Disaster Loan Outreach Center will open Wednesday in Kill Devil Hills to explain the loan application process, answer questions and help people complete their applications. The center will be at the Thomas Baum Senior Center, 300 Mustian St., and will be open from 8:30 a.m. to 5 p.m. weekdays through Nov. 19, and from 10 a.m. to 2 p.m. on Saturday, Nov. 17.

Loans of up to $200,000 are available to repair or replace damaged or destroyed real estate. Homeowners and renters are also eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.

Dare County was the only North Carolina county that met the threshold for a SBA disaster declaration, but the agency's policy enables residents and business owners in contiguous counties to also apply for financial assistance.

Storm victims in Dare County who don't qualify for a federal loan might be eligible for a state grant of up to $30,400 to help pay for housing and other essential needs. The state grants were made available as a result of Gov. Beverly Perdue's disaster declaration for the county.

2 Comments

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  • Six String Nov 9, 7:03 p.m.

    By all means, let's get the overreaching and inept government out of our lives. Then we won't have to deal with these messy low interest long term loans. Let's privatize everything so you can pay higher interest rates that go to the lender's bottom line profits. Hey, maybe these folks can get a second mortgage from the bank on their non-existent home.

  • whatelseisnew Nov 9, 6:52 p.m.

    "Storm victims in Dare County who don't qualify for a federal loan might be eligible for a state grant of up to $30,400 to help pay for housing and other essential needs. "

    Another example of how the Government sticks it to the middle class.