8 NC Counties Eligible for Federal Loans After US Small Business Administration Declares Disaster from Chantal

North Carolina Gov. Josh Stein announced Saturday that the U.S. Small Business Administration (SBA) approved his request for an administrative disaster declaration for several counties impacted by Tropical Storm Chantal.

More than 10 inches of rain in some areas on July 6 triggered massive flooding in Alamance, Caswell, Chatham, Durham, Granville, Orange, Person, and Wake counties. The storm is linked to six North Carolina deaths, including four drivers and two Jordan Lake boaters.

Homeowners, renters, and business owners in the eight counties mentioned above may be eligible for federal financial assistance in the form of low-interest disaster loans, according to a news release from Stein’s office.

“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 in the news release. “I want to thank the Small Business Administration for swiftly approving this request. North Carolinians are resilient and will get through this together.”

Eligible homeowners and renters may borrow up to $500,000 for repair or reconstruction costs for their primary residence.

Loans of up to $100,000 are available to cover expenses related to damaged or destroyed personal property, including clothing, furniture, cars, and appliances.

Eligible 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 may be submitted online using the MySBA Loan Portal at https://lending.sba.gov or other locally announced locations. Contact the SBA’s Customer Service Center by email at [email protected] or by phone at 1-800-659-2955 for further assistance. People who are deaf or hard of hearing or have a speech disability can dial 7-1-1 to access telecommunications relay services.