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Helene Cashflow Loans Will Be Ready for Release in Near Future, Treasurer Briner Says

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The Department of State Treasurer (DST) is poised to begin approving loans this month from a $100 million program created to help local governments still reeling from the ravages of Hurricane Helene, State Treasurer Brad Briner announced at today’s Council of State meeting.


“Our staff has performed Herculean work in short order to build the architecture of the cashflow loan program from the ground up. We are eager to begin approving loans later this month to potentially more than 140 local governments that were shattered by Helene. They have shown irrepressible grit as they continue to pick up the pieces. These loans will give them a cash infusion sorely needed to accelerate the road to recovery,” Treasurer Briner said. 


Local governments must provide damage assessments to the N.C. Department of Emergency Management no later than Feb. 14, as detailed in an earlier memo. Those assessments will be used to calculate loan amounts. Once the loan amount is determined, the governing board of impacted local governments will need to vote to approve acceptance of the loans. 


The cashflow loan program was created under the Disaster Recovery Act of 2024. The General Assembly designated DST to administer the program. The first loans could be issued as soon as Feb. 24. 


DST is partnering with the N.C. League of Municipalities and the N.C. Association of County Commissioners on how to distribute the loans, and to keep local governments apprised of deadlines and requirements. 

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