The U.S. Small Business Administration has issued a disaster declaration for eight counties in North Carolina affected by Tropical Storm Chantal, enabling residents to apply for low-interest loans.
Governor Josh Stein announced the approval of the disaster declaration, which covers Alamance, Caswell, Chatham, Durham, Granville, Orange, Person, and Wake counties.
This declaration allows homeowners, renters, and business owners to apply for financial assistance to recover from the severe flooding caused by the storm.
“This declaration will help families and business owners across central North Carolina who are still reeling from the severe flooding caused by Tropical Storm Chantal,” Stein said. “I want to thank the Small Business Administration for swiftly approving this request. North Carolinians are resilient and will get through this together.”
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Eligible homeowners and renters can borrow up to $500,000 for repair or reconstruction costs of their primary residence. Additionally, loans of up to $100,000 are available to cover expenses related to damaged or destroyed personal property, including clothing, furniture, cars, and appliances.
Businesses and nonprofits may borrow up to $2 million to repair or replace property, including real estate, inventory, and equipment. Applications for SBA disaster loans can be submitted online through the MySBA Loan Portal or at other locally announced locations.
The State Emergency Response Team has been working with local officials since July 5, providing information, resources, and support. Governor Stein declared a State of Emergency on July 16 to facilitate state and federal recovery assistance.
Residents with damage and debris cleanup needs can contact Crisis Cleanup at 910-218-1569 by August 1 for assistance with muck out, downed tree removal, and general debris removal.
WATCH: FEMA funds new warning sirens along Caldwell County creek after Helene disaster