Applications for the third round of interest-free Helene cashflow loans now open

Local municipalities affected by Hurricane Helene have another chance to apply for assistance through the Helene Cashflow Loan program.

North Carolina State Treasurer Brad Briner announced on Thursday that the third round of $51.5 million in funding can now be distributed, thanks to the passage of The Disaster Recovery Act of 2025- Part II, which was signed into law on June 27.

The State Treasurer’s office administers the Cashflow Loan program.

“This is money they otherwise would have had to wait for extended periods of time to get from the federal government,” Briner said in a press release. “The Cashflow Loan program has been successful since its implementation just a few short months ago. Communities in need now have nearly $100 million in hand and already being used in their recovery work.” 

The second round of loans using the remaining $34.4 million from the $100 million cashflow loan program under SB 382, Disaster Recovery Act of 2024, which became law in December, was distributed in June.

More than $73 million was distributed in February in the first round of interest-free loans. A total of $97 million has been loaned in the past six months.

A full list of local governments receiving loans in Round 2 can be found here.

One of those recipients, Maggie Valley, Haywood County, received over $216,700.

While that will help, the town has a long road ahead. The initial damage assessments of Maggie Valley post-Helene estimated costs of about $4.7 million. Most of the initial damage was sewer-related or damage to parks near Jonathan Creek. Several creeks that flow into the valley also overflowed, causing damage that required cleanup, which also accounts for initial damage costs. 

Mayor Mike Eveland previously told Carolina Journal that Maggie Valley’s cash flow situation is currently stable, thanks to the state’s financial assistance. We received a low-interest loan from the Department of Environmental Quality (DEQ) for $2,575,000, which must be repaid over the next five years. 

Maggie Valley also received a $200,000 grant from DEQ to support engineering work. However, that amount only covered a single project — and it’s already been fully used. Still, while limited, town leaders say the grant was helpful.

See also: Maggie Valley faces a long road to recovery from Hurricane Helene

Round 2 of the Helene Cashflow funds administered by the State Treasurer’s office was set aside the same month at the request of local governments who needed more time to assess damages and get their paperwork completed. Many local governments requested additional funding due the extent of their damages, ongoing cleanup and cashflow needs while seeking resources through more traditional means, like FEMA.

The loans must be repaid in five years.

As with the first two rounds, local governments wishing to participate will need to complete a worksheet. Information on how to do that can be found here.

The deadline to apply is Aug. 15.

The post Applications for the third round of interest-free Helene cashflow loans now open first appeared on Carolina Journal.

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