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Gov. Perdue announces aid available for tornado survivors in Cherokee
Story Date: 3/13/2012
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Source: PRESS RELEASE, 3/12/12
Gov. Bev Perdue today announced that financial assistance is available for survivors of the tornadoes that struck Cherokee County March 3. The aid is a result of the governor’s request for a disaster declaration by the U.S. Small Business Administration.
“We are extremely fortunate there were no life-threatening injuries from these tornadoes,” Perdue said. “But many of these families and business owners in Cherokee County need our help to repair their homes and begin rebuilding their lives. Homeowners and renters who suffered damages from the severe weather can apply for low-interest loans or grants.”
A U.S. Small Business Administration Disaster Loan Outreach Center will open Tuesday in Murphy to help individuals complete their applications, answer questions about the disaster loan program and explain the application process. The center is located at the Employment Security Commission, 800 US Highway 64 West. It will be open from 9 a.m. to 6 p.m. on weekdays through Thursday, March 22, and 9 a.m. to 1 p.m. on Saturday, March 17. The centers will be closed Sunday, March 18.
Severe storms and tornadoes rolled across several western counties March 3, damaging more than 150 homes in Cherokee, Cabarrus and Mecklenburg counties. All three counties declared a local state of emergency the evening of the storms. Damage assessment teams from North Carolina Emergency Management and the SBA helped local officials survey the damage March 5-7. Those assessments in Cabarrus and Mecklenburg counties did not meet the threshold for a SBA disaster declaration since many of the homes were insured.
For a county to qualify, at least 25 homes and/or businesses that sustained major damage or were destroyed do not have adequate insurance to cover the losses. Fifty homes and businesses in Cherokee County with inadequate insurance had major damage or were destroyed. Mecklenburg had nine homes that fit that category; Cabarrus had five.
Loans up to $200,000 are available through the SBA to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters also are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.
Storm victims in Cherokee County who do not qualify for a federal loan may be eligible for a state grant of up to a maximum of $25,000 to help pay for housing and other essential needs. The state grants will be made available as a result of the governor’s disaster declaration today for Cherokee County.
Interest rates are as low as 2.063 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Individuals and businesses unable to visit the center can apply via the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or
https://disasterloan.sba.gov/ela/.
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