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SBA seeks loan applications from winter storms

BOONE — North Carolina small businesses and nonprofits impacted by severe winter weather a year ago have a month remaining to apply for federal low-interest loans.

The U.S. Small Business Administration has issued a reminder that those who suffered economic losses as a result of the disaster must apply for loans before Dec. 27. Several counties in northwestern North Carolina received a disaster declaration for winter storms that occurred between December 2009 and February of this year.

The maximum loan amount for organizations that suffered substantial economic damage is $2 million. The loans have an interest rate of 3 percent for nonprofits and 4 percent for businesses.

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