Agenda - 08-04-1993 - VII-C - Laserfiche WebLink

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Federal lenders _ ___ H tYr t coon By LISA REINERS (S I l • The Chapel Hill Herald l� HILLSBOROUGH — Represen- LENDERS FROM 1 r, tatives from the U.S. Small Busi- ness Administration- will pack A tornado that ripped number, 1-800-659-2955, to re- up their temporary Hillsbor- ( through Hillsborough's north- ceive an application in the mail. l ough office Wednesday and western side early Nov. 23 de- County Manager John Link I leave for another storm- stroyed or severely damaged 65 encouraged people to apply damaged area. homes and left many others even if they eventually may not Officers have been taking with minor damage, causing an need the loan. } loan applications from tornado estimated $2 million in. prop- "Individuals who apply don't victims for more than a week erty damage. Two people died have to follow through with the out of a Court Street office. in the storm. , loan," Link said. Some home- About 45 people have applied People who are still inter- owners waiting to hear from in- for the low-interest federal ested in applying for the loans surance companies ' or other d have until Feb. 1. County of- oan which are intended to loans, wlu loan sources should apply just �' PPYJ help homeowners and business ficials can help residents obtain to be safe, he said. owners rebuild or make repairs applications even after the of Businesses and homeowners after a natural disaster. . fice is closed, said Orange Coun- with other available credit may ' "We're being pulled out be ty Assistant Manager Albert Kit- be eligible for 8-percent loans, cause of the damage from . trell. but most SBA loans have a rate storms in the northeasterr. "We will have information of 4 percent. states," said supervisory loan of- necessary for. them to get ap- "We try to keep all our loans ficer David Dillworth. Homes plications on hand," Kittrell at 4 percent," Dillworth said. and businesses' in New York, , said. The limit for SBA homes is New Jersey, Connecticut, Rhode Dillworth said some people $100,000 for real estate and Island and Massachusetts were who may need the loans have $20,000 for damage to personal t damaged by severe storms last not yet applied. property, Economic injury loans weekend. Dillworth, one of four "There are still people who are available for people who - SBA workers assigned to Hills- have not contacted us," lost business because of the tor- borough, was the only one left Dillworth said. "I don't know nado. The deadline for applying in the office Monday afternoon. how many there are." for economic injury loans is f Dillworth said storm victims I Residents can call a toll-free Sept. 1. in the Northeast were in greater - - need of immediate SBA help than those here. please see LENDERS/2