Gov. Roy Cooper’s request for a catastrophe declaration for homeowners of properties and small companies broken in a 5.1 magnitude earthquake centered close to Sparta was accepted by the U.S. Small Enterprise Administration on Friday.
The declaration authorizes low-interest catastrophe loans to homeowners of properties and companies in Alleghany County and the adjoining counties of Ashe, Surry and Wilkes, in addition to Grayson County, Va., broken within the Aug. 9 earthquake.
SBA catastrophe loans present as much as $200,000 apiece to householders and as much as $2 million apiece to enterprise homeowners for repairing and/or changing broken property. Owners and renters are eligible for loans as much as $40,000 to restore or exchange broken private property.
“This SBA approval will provide much-needed help to our homeowners and small businesses who are coping with structural damage from this strong quake,” stated Cooper. “Additionally, I have signed a state disaster declaration to provide state-funded assistance for those who don’t qualify for SBA aid.”
About 500 buildings in Alleghany County had been listed as broken within the preliminary evaluation. An SBA harm evaluation survey discovered that 43 buildings suffered harm equal to greater than 40% of every constructing’s value. This included 38 properties and 5 companies.
Particular person state help grants can be found for individuals who don’t qualify for an SBA low-interest catastrophe loan,
SBA Financial Harm Catastrophe Loans for working capital wants associated to the earthquake can be found to small companies, no matter whether or not bodily property harm occurred.
A catastrophe restoration heart will open Monday afternoon in Sparta to obtain functions for help. Name 336-372-2999 to make an appointment.