Federal disaster loans now available for NC businesses

Here's some important news for small business owners in Currituck County and throughout North Carolina.

From the U.S. Small Business Administration website:

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). 

• Loans are available to small businesses and private, non-profit organizations  to help alleviate economic injury caused by the Coronavirus (COVID-19).
   
• SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
   
• 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. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
   
• SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

View the Disaster Loan Fact Sheet

SBA Disaster Loan Assistance Application