Our thoughts go out to all impacted by last week’s devastating storms caused by Hurricane Helene in southwest Virginia, western North Carolina and eastern Tennessee. The VBA has been in touch with our peers in those two states as well as bankers in southwest Virginia to see what type of assistance is needed. You can read a press release shared by the community banks of Southwest Virginia here.

State Loan Program to Assist Helene Impacted Agriculture Small Businesses

Governor Glenn Youngkin announced a disaster microloan program for farmers and agricultural and forestry small businesses located in counties affected by Hurricane Helene through a partnership of the Virginia Small Business Finance Authority (VSBFA) and the Tobacco Region Revitalization Commission.

A total of $6M is available through the Agriculture Disaster Microloan Program and will provide loans ranging from $5,000 to $50,000 to cover various disaster-related needs directly resulting from Hurricane Helene. Funds are first-come, first-served and applications will be accepted through December 31, 2024.

Applications and additional information, including eligibility and loan terms, can be found here or by contacting the VSBFA at 804-786-1049.

Please see below for a list of ways to support recovery efforts.

• United Way SWVA Regional Disaster Relief Fund: United Way of Southwest Virginia has activated this fund to assist those impacted by the flooding.
• North Carolina Bankers Association Foundation Hurricane Helene Relief Fund: Contributions to this fund will benefit bank employees who’ve suffered property damage and losses from the storm. Contributions may be made by U.S. mail to N.C. Bankers Association, 3601 Haworth Drive, Raleigh, NC 27609. NCBA will also collect contributions via ACH/wire. Please reach out to accounting@ncbankers.org for electronic payment information.
  • Other ways to directly support western N.C. communities can be found here. (Axios.com)
• Tennessee Bankers Association Disaster Relief Fund: Contributions to the TBA Disaster Relief Fund, administered by The Community Foundation of Middle Tennessee, will go directly to support those most impacted. 
• Red Cross: Contributions to the Red Cross will support those impacted by the storm. You can also call (804) 345-1212 to learn more about ways you can help and follow the American Red Cross Virginia Region on Facebook for more information.
• Please email the VBA’s Monica McDearmon if you have bank employees who were directly impacted by the storm.

Please contact Monica McDearmon with any questions or to share other ways that Virginia bankers can help support the recovery efforts.