Onslow and Carteret counties received $450,000 in disaster assistance loans from the Small Business Administration. SBA officials are helping businesses impacted by Hurricane Irene to complete loan applications.
At the Carteret County Planning Building, a disaster loan outer each center has been started and it will remain open from 8 a.m. to 5 p.m. till Friday. Matthew Young, Public Affairs Specialist of SBA, asked people to get their applications completed within this week as after that the agency will close.
Till now, Onslow County has been issued 558 home loan applications out of which only 55 received applications. Of these, just nine have been approved for total of $110,100 in advance. In Onslow, 108 applications have been issued and just five received the applications and none approved till date. Carteret County is also eligible and 579 home loan applications have been issued for the county. Out of these 579 applications, the recipients are 80 and just 14 applications have been approved totaling to an amount of $330,600. However, 147 SBA loan applications have been issued to Carteret businesses and just seven received and non approved to-date.
SBA disaster loans cater to serve homeowners, renters, non-profit organizations and businesses that are affected by disaster storms. But to receive grants, a completed SBA loan application is necessary to find grants from Federal Emergency Management Agency (FEMA). The SBA loan applications need to be completed and returned so as to be considered for FEMA and state assistance.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com