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SBA Offers Disaster Assistance to NC Small Businesses Economically Impacted by Coronavirus (COVID-19)

SBA Offers Disaster Assistance to North Carolina Small Businesses Economically Impacted by the Coronavirus (COVID-19)
 
ATLANTA – The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to North Carolina small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced today. SBA acted under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, to declare a disaster following a request received from Gov. Roy Cooper on March 17, 2020.
 
The disaster declaration makes SBA assistance available in the entire state of North Carolina; and the contiguous counties of Fannin, Rabun, Towns and Union in Georgia; Cherokee, Chesterfield, Dillon, Greenville, Horry, Lancaster, Marlboro, Oconee, Pickens, Spartanburg and York in South Carolina; Blount, Carter, Cocke, Greene, Johnson, Monroe, Polk, Sevier and Unicoi in Tennessee; and Brunswick, Carroll, Chesapeake City, Danville City, Grayson, Greensville, Halifax, Henry, Mecklenburg, Patrick, Pittsylvania, Southampton, Suffolk City and Virginia Beach City in Virginia.
 
“SBA is strongly committed to providing the most effective and customer-focused response possible to assist North Carolina small businesses with federal disaster loans. We will be swift in our efforts to help these small businesses recover from the financial impacts of the Coronavirus (COVID-19),” said Administrator Carranza.
 
SBA Customer Service Representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the application process.
 
“Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus (COVID-19) since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred,” said Carranza.
 
“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing,” Carranza added.
 
Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.
 
The deadline to apply for an Economic Injury Disaster Loan is Dec. 18, 2020.
 
For more information about Coronavirus, please visit: Coronavirus.gov.
 
For more information about available SBA resources and services, please visit: SBA.gov/coronavirus.
 
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.



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La SBA ofrece asistencia en caso de desastre a las pequeñas empresas de North Carolina afectadas económicamente por el Coronavirus (COVID-19)
 
Atlanta - La Agencia Federal para el Desarrollo de la Pequeña Empresa (SBA) por sus siglas en inglés, ofrece préstamos federales de bajo interés para capital de trabajo a las pequeñas empresas de North Carolina que sufren un daño económico sustancial como resultado de la enfermedad del coronavirus (COVID-19), anunció hoy la administradora de SBA, Jovita Carranza. SBA actuó bajo su propia autoridad, según lo dispuesto por la Ley de Asignaciones Suplementarias para la Preparación y Respuesta ante el Coronavirus que fue firmada recientemente por el Presidente, para declarar un desastre a raíz de una solicitud recibida del Gobernador Roy Cooper el 18 de marzo de 2020.
 
La declaración de desastre hace que la asistencia de SBA esté disponible en todo el estado de North Carolina; y en los condados contiguos de Fannin, Rabun, Towns y Union en Georgia; y Cherokee, Chesterfield, Dillon, Greenville, Horry, Lancaster, Marlborro, Oconee, Pickens, Spartanburg y York en South Carolina; Blount, Carter, Cocke, Greene, Johnson, Monroe, Polk, Sevier y Unicoi en Tennessee; Brunswick, Carroll, Chesapeake City, Danville City, Grayson, Greenville, Halifax, Henry, Mecklenburg, Patrick, Pittsylvania, Southampton, Suffolk City y Virginia Beach City en Virginia.
 
"SBA está firmemente comprometida a proporcionar la respuesta más eficaz y centrada en el cliente posible para ayudar a las pequeñas empresas de North Carolina con los préstamos federales para catástrofes. Seremos rápidos en nuestros esfuerzos para ayudar a estas pequeñas empresas a recuperarse de los impactos financieros por la enfermedad del coronavirus (COVID-19)", dijo la Administradora Carranza.
 
Los representantes de servicio al cliente de SBA estarán disponibles para responder preguntas sobre el programa de préstamos para desastres por daños económicos de SBA y explicar el proceso de solicitud.
 
"Las pequeñas empresas, las organizaciones privadas sin fines de lucro de cualquier tamaño, las pequeñas cooperativas agrícolas y las pequeñas empresas de acuicultura que han sido afectadas financieramente como resultado directo de la enfermedad del coronavirus (COVID-19) desde el 31 de enero de 2020, pueden calificar para recibir préstamos para desastres por daños económicos de hasta 2 millones de dólares para ayudar a cumplir con las obligaciones financieras y los gastos de funcionamiento que podrían haber sido satisfechos si el desastre no hubiera ocurrido", dijo Carranza.
 
"Estos préstamos pueden ser usados para pagar deudas fijas, nómina, cuentas por pagar y otras cuentas que no pueden ser pagadas debido al impacto del desastre. Los préstamos para desastres pueden proporcionar una ayuda económica vital a las pequeñas empresas para ayudar a superar la pérdida temporal de ingresos que están experimentando", añadió Carranza.
 
La elegibilidad para los Préstamos para Daños Económicos por Desastre se basa en el impacto financiero la enfermedad del coronavirus (COVID-19). La tasa de interés es del 3.75 por ciento para las pequeñas empresas. La tasa de interés para las organizaciones privadas sin fines de lucro es del 2.75 por ciento. SBA ofrece préstamos con repago a largo plazo para mantener los pagos asequibles, hasta un máximo de 30 años y están disponibles para entidades sin capacidad financiera para compensar el impacto adverso sin dificultades.
 
Los solicitantes pueden presentar su solicitud en línea, recibir información adicional sobre asistencia en casos de desastre y descargar las solicitudes en https://disasterloan.sba.gov/ela. Los solicitantes también pueden llamar al Centro de Servicio al Cliente de SBA al (800) 659-2955 o enviar un correo electrónico a disastercustomerservice@sba.gov para obtener más información sobre la asistencia para desastres de SBA. Las personas sordas o con problemas de audición pueden llamar al (800) 877-8339. Las solicitudes completas deben enviarse por correo a la Administración de Pequeñas Empresas de los Estados Unidos, Centro de Procesamiento y Desembolso, 14925 Kingsport Road, Fort Worth, TX 76155.
 
La fecha límite para solicitar un Préstamo para Daños Económicos por Desastre es el 18 de diciembre de 2020.
 
Para más información sobre el Coronavirus, por favor visite: Coronavirus.gov.
 
Para más información sobre los recursos y servicios disponibles de SBA, por favor visite: SBA.gov/coronavirus.
 
Acerca de la Administración de Pequeñas Empresas de los Estados Unidos
La Administración de Pequeñas Empresas de EE.UU. hace realidad el sueño americano de ser propietario de un negocio. Como el único recurso y la única voz para las pequeñas empresas respaldada por la fuerza del gobierno federal, SBA otorga a los empresarios y propietarios de pequeñas empresas los recursos y el apoyo que necesitan para iniciar, hacer crecer o expandir sus empresas, o para recuperarse de un desastre declarado. Presta servicios a través de una amplia red de oficinas locales de SBA y de asociaciones con organizaciones públicas y privadas. Para obtener más información, visite www.sba.gov.



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U.S. SMALL BUSINESS ADMINISTRATION FACT SHEET – ECONOMIC INJURY DISASTER LOANS  
NORTH CAROLINA Declaration 16345 (Disaster:  NC-00115) Incident:  CORONAVIRUS (COVID-19) 
occurring:  January 31, 2020 & continuing 


All counties within the State of North Carolina; the contiguous Georgia counties of:  Fannin, Rabun, Towns, and Union; the contiguous South Carolina counties of:  Cherokee, Chesterfield, Dillon, Greenville, Horry, Lancaster, Marlboro, Oconee, Pickens, Spartanburg, and York; the contiguous Tennessee counties of:  Blount, Carter, Cocke, Greene, Johnson, Monroe, Polk, Sevier, and Unicoi; and the contiguous Virginia counties of:  Brunswick, Carroll, Chesapeake City, Danville City, Grayson, Greensville, Halifax, Henry, Mecklenburg, Patrick, Pittsylvania, Southampton, Suffolk City, and Virginia Beach City 
 
Application Filing Deadline: December 18, 2020 
Disaster Loan Assistance Available: Economic Injury Disaster Loans (EIDLs) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster.  These loans are intended to assist through the disaster recovery period. Credit Requirements: • Credit History – Applicants must have a credit history acceptable to SBA. • Repayment – Applicants must show the ability to repay the loan. • Collateral – Collateral is required for all EIDL loans over $25,000.  SBA takes real estate as collateral when it is available.  SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available. Interest Rates: The interest rate is determined by formulas set by law and is fixed for the life of the loan.  The maximum interest rate for this program is 3.750 percent.  Loan Terms: The law authorizes loan terms up to a maximum of 30 years.  SBA will determine an appropriate installment payment based on the financial condition of each borrower, which in turn will determine the loan term.   Loan Amount Limit:  The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster.  The actual amount of each loan is limited to the economic injury determined by SBA, less business interruption insurance and other recoveries up to the administrative lending limit.  SBA also considers potential contributions that are available from the business and/or its owner(s) or affiliates.  If a business is a major source of employment, SBA has the authority to waive the $2,000,000 statutory limit. Loan Eligibility Restrictions: Noncompliance – Applicants who have not complied with the terms of previous SBA loans may not be eligible.  This includes borrowers who did not maintain required flood insurance and/or hazard insurance on previous SBA loans. Note: Loan applicants should check with agencies / organizations administering any grant or other assistance program under this declaration to determine how an approval of SBA disaster loan might affect their eligibility. 

Refinancing: Economic injury disaster loans cannot be used to refinance long term debts. 
Insurance Requirements: To protect each borrower and the Agency, SBA may require you to obtain and maintain appropriate insurance.  By law, borrowers whose damaged or collateral property is located in a special flood hazard area must purchase and maintain flood insurance. SBA requires that flood insurance coverage be the lesser of 1) the total of the disaster loan, 2) the insurable value of the property, or 3) the maximum insurance available.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela.

Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.

Individuals who are deaf or hard-of-hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.