In a recent Ashe County Commission meeting, a representative from the Small Business Administration (SBA) shed light on crucial disaster recovery resources available to residents affected by Hurricane Helene. Speaking from Blowing Rock, the official emphasized the urgency of applying for disaster loans, with a looming deadline of April 27 for physical damage recovery loans.

The SBA offers two primary types of loans: physical damage loans and economic injury loans. Homeowners can receive up to $500,000 for real estate damage, while businesses may qualify for loans up to $2 million. Renters and homeowners can also access up to $100,000 for personal property damage. The economic injury loans are designed to help businesses maintain operations during the recovery phase, with similar loan limits.

The representative highlighted a significant issue: many applications have been withdrawn due to missing information, which could prevent applicants from receiving necessary funds. Residents were encouraged to follow up on their applications through the SBA portal or by contacting the agency directly.

Interest rates for these loans are set at 2.8% for homeowners, 4% for businesses, and 3.25% for non-profits. Notably, the SBA can provide additional funding for mitigation efforts, allowing homeowners to address risks such as landslides, even if they are unrelated to the initial damage.

For those considering relocation, the SBA also offers relocation loans, providing options for individuals looking to move closer to family or safer areas. The representative concluded by assuring attendees that all relevant information and resources were made available to the county clerk and commissioners, reinforcing the SBA's commitment to supporting the community during this challenging time.