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Rain-related disaster loans available

The U.S. Small Business Administration will be accepting applications until April 28, 2014, for economic injury disaster loans from small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations in the North Carolina counties bordering South Carolina.

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Millions of homeowners remain underwater on mortgages (access required)

As of Sept. 1, 10.7 million residential homeowners in the U.S. are deeply underwater on their mortgages and another 8.3 million homeowners are just about staying afloat. According to a report released on Wednesday by RealtyTrac, an Irvine, Calif.-based real estate analytics firm, the 10.7 million homeowners who are deeply underwater to begin this month – meaning they owe 25 percent or more on their mortgage than what their home is worth – is down from the 11.3 million deeply underwater homeowners reported in May.

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Parkway Properties to buy Los Angeles company, increase footprint in Texas (access required)

Parkway Properties, the owner of about 3.3 million square feet of office space in Charlotte, including the 46-story Hearst Tower, has agreed to buy Thomas Properties Group, based on Los Angeles, the companies announced Thursday.

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Subdivision approved after developer changes proposal (access required)

A proposed 440-home residential development that was vehemently opposed by residents of two counties became a proposed 338-home residential development that was endorsed by those same residents on Wednesday night. And after protest petitions were withdrawn that would have required a supermajority vote, the Kannapolis City Council voted unanimously to approve the River Pointe at Davidson development.

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Lowe’s names senior vice president (access required)

Lowe’s Companies, Inc. (NYSE:LOW) announced today that Michael P. McDermott will join the company as senior vice president and general merchandising manager- building and maintenance, a new position. McDermott will be responsible for the Lumber & Building Materials, Millwork, Hardware & Tools and Rough Plumbing & Electrical divisions.

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