On Apr. 2, SBA made disaster aid available to NC drought victims.
SBA disaster loan program activated in North Carolina by drought start Nov. 1, 2023.
Made Economic injury disaster loans (EIDLs) available to certain small businesses.
Eligibility
Primary NC counties of Cherokee, Clay, Cleveland, Gaston, Lincoln, Macon, and Swain.
Neighboring NC counties of Burke, Catawba, Graham, Haywood, Iredell, Jackson, Mecklenburg, Rutherford; GA counties of Fannin, Rabun, Towns, and Union.
SC counties of Cherokee, Oconee, York and TN counties Blount, Monroe, Polk, Sevier.
EIDLs up to $2 million are available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this drought disaster.
Eligibility is based on size of the applicant, type of activity and its financial resources.
These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the drought disaster not occurred.
Deadline
Completed EIDL applications must be submitted to SBA by Nov. 25, 2024.
