Loans available for recent NC flooding relief

cjarvis@newsobserver.comSeptember 5, 2012 


Patricia Brown and her ten-year-old grand daughter Rachel Massey walk back to their home past waterlogged items from discarded from the first floor the apartment behind them on Franklin Street in downtown Roanoke Rapids, N.C on Saturday August 25, 2012. Water from heavy rain, brought more than four feet of water into the building behind them.


Disaster-assistance loans from the U.S. Small Business Administration are available for losses sustained in the flash flooding that damaged parts of Halifax and Northampton counties on Aug. 25, the governor’s office announced Wednesday.

An outreach center will open Friday at a senior citizens center in Roanoke Rapids, through Sept. 13. Loans of up to $200,000 are available to homeowners to repair and replace land, and homeowners and renters can apply for loans of up to $40,000 for personal property.

Businesses and nonprofit groups can borrow up to $2 million for damage. Interest rates are exceedingly low.

The storms flooded dozens of roads and more than 75 homes and businesses. It closed a portion of Interstate 95, and sent more than 50 people to shelters. No one was killed or suffered life-threatening injuries, the governor’s office reported.

The amount of damage, however, was not enough to trigger the release of Federal Emergency Management Agency funds. The SBA loans were made available after Gov. Bev Perdue declared a disaster and asked for the financial help.

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