BRUNSWICK COUNTY — Tomorrow will be the last day Brunswick County residents can get assistance from the Small Business Administration at its outreach center.
Brunswick County residents, businesses, and nonprofits affected by Potential Tropical Cyclone from Sept. 16 to 20 are eligible to apply for low-interest disaster loans from the SBA. The federal agency opened the disaster loan outreach center on Oct. 19 to assist with disaster loan applications, accept documents, and provide updates on an application’s status.
The center is located at Town Creek Park Community Building (6420 Ocean Highway E); it permanently closes at 12 p.m. (noon) on Friday, Nov. 1. It is open until 6 p.m. on Thursday. Walk-ins are accepted, but you can schedule an in-person appointment at the SBA Disaster Loan Outreach Center in advance.
Following the closure, applicants may continue to apply online at sba.gov/disaster.
According to the SBA, interest rates are as low as 4% for businesses, 3.25% for nonprofit organizations, and 2.813% for homeowners and renters, with terms up to 30 years.
Interest does not begin to accrue, and monthly payments are not due, until 12 months from the date of the initial disbursement. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
On Oct. 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, applications will continue to be accepted and processed.
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