The SBA offers disaster assistance in the form of low-interest loans to businesses, renters, and homeowners located in regions affected by declared disasters. The SBA approved Governor Roy Cooper’s request to open up the disaster loan program to North Carolina businesses affected by COVID 19.
Three-Step Process
Step 1: Apply for the loan
Apply online or by mail. As a small business, you can apply for a maximum loan of $2 million for economic injury.
Step 2: Loan processing decision
SBA reviews your credit before conducting an inspection to verify your losses. An SBA verifier will estimate the total loss to your business. A loan officer works with you to provide all the necessary information needed to reach a loan determination.
Step 3: Funds Dispersed
A case manager will be assigned to work with you to help you meet all loan conditions. They will also schedule subsequent disbursements until you receive the full loan amount.
Application Materials
- Completed and signed application.
- Tax Information Authorization
- Tax Returns
- Schedule of Liabilities
- Personal Financial Statement
- Other documentation may be needed. SBA will assist your unique case.
Phone numbers: 1-800-659-2955 or (TTY) (800) 877-8339
