Natural disasters in the U.S. are not unusual. This time it is flash flooding in Halifax and Northampton counties. The U.S Small Business Administration is again ready to make loans to overcome from the disastrous floods on Aug 25th.
A senior citizen center in Roanoke Rapids will act as outreach center. It will grant $200,000 to homeowners whose property got destroyed. For businesses too, extended loan support is available so that business properties can be restored and necessary replacement done. People staying on rent can ask for loans amounting to $40,000 while entrepreneurs can borrow up-to $2 million for damages. Above-all, the interest rate for loans is kept exceedingly low.
The storm that wreaked havoc in Halifax and Northampton counties caused extensive damage as it flooded dozens of roads including a portion of Interstate 95. More than 75 homes and businesses had to bear severe destructions and over 50 people had to find separate shelters to save themselves from the storm. However, no loss of life has been reported due to the storm but business properties did undergo extensive damages.
SBA loans are now made available to the disaster hit counties and the spigot got opened when Gov. Bev Perdue appealed for financial support from Fed after declaration of disaster.
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